Journal Press India^®

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In the contemporary world economy characterised by in-egalitarian tendencies, this paper tries to critically look at the transformations in the sphere of development finance. It tries to develop a critique against the nature of deregulation in the microfinance sector. It argues that there could be no substitute for state intervention in the macro economy towards the provision of public goods like education and health. At best, microfinance could play a supplementary role, and never the role of a substitute.

Keywords

Microfinance, Development, Deregulation

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