Microfinance – A Tool For Poverty Eradication

This paper studies the need and success of Microfinance in Eradicating poverty, particularly, in India and in the world in general. Microfinance exists since time unmemorable, throughout the world, in many different forms. It is experienced that poor need microfinance (< $100) to uplift their families from the clutches of poverty and loan sharks. Not relying fully on the past, MFIs should monitor financing activities professionally, to optimize the funding. Economic and Social benefits of these activities till now, have proved to turn into more economic benefits in the long run.