Journal Press India^®

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This paper attempts to examine the influence of microfinance interventions on the poor living in India and Bangladesh. Both the countries have attracted the attention of the world towards the latest and effective means of combating destitution. The paper commences with a historical overview, evolution and a quick snapshot of the current status. In the second half of this paper, an impact analysis is undertaken to perceive the impact of microfinance interventions on poverty alleviation, financial inclusion, entrepreneurship, and social upliftment. An intensive discussion of a number of programs initiated by the microfinance institutions directed towards the social upliftment of the poor and their impact on the poor communities are presented in the paper. Finally, the study also presents suggestions and recommendations for maintaining sustainability of the sector to deal with dynamic and challenging environment. The relevance of innovative techniques like sand-boxing, credit plus products and capacity building are emphasised to assist the long-lasting economic growth and social well-being of poor in the region.

Keywords

Microfinance; Social upliftment; Grameen model; SHGs; Credit plus products; India; Bangladesh.

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