Microfinance and rural development: A review of literature

In the context of rural development, the aim of this article is to examine the results of various studies in order to find out the impact of microfinance schemes and all initiatives of co-operative societies, NGOs, NABARD, Commercial banks etc. on the conditions of rural development.

for article purpose the researcher have taken several papers, studies and articles published in different journals, magazines and websites. The review was related basically of rural development.

After reviewing the literature the researcher got impressive results to some extent that the Grameen Banks, Co-operative societies, NGOs, SHGs as well as government have taken so many initiatives through many schemes like SGSY, RMK, PGMSY etc. to solve the finance problem of the rural poor. But still there are so any gaps and areas which need to be take care of.

further attempt can be made in those areas and those poor who are still deprived of these facilities or where still development is necessary. More areas should be searched where microfinance reach is necessary.