Emerging issues and prospects of micro finance (A case study of Udaipur)

The growth of microfinance in India has also to be seen in the light of financial sector reforms in India starting from 1991 and the global emphasis on commercialization of the sector. The financial sector reforms in India have focused on fostering a market based financial system by increasing competition and improving the quality of financial services. The new approach has been deeply influenced by the reorientation among international rural financial policy makers centering on concepts such as self-help, self sustained growth and institutional viability. This study is an small attempt to study the pattern of growth of Micro Finance in Udaipur for period (2001–2010), to document the problems and prospects of Micro Finance, to explore how far MFIs in Udaipur have been successful in strengthening the formal financial system in the process of nurturing rural poor and to identify & evaluate the level of satisfaction of customers.