Microfinance Commerce !!

In any country, poor is always considered a backward clan ignored by everybody in the society. But things are now changing, now big corporate houses start reliasing the potential of this poorest clan and how economic they can be in achieving their financial target. There are corporates which are targetting these people as potential buyers of their goods, but their are some Corporates , NGO and MFC which are empowering these poor to uplift themselves from poverty, these institutions are referred as Microfinance Institutions.

Nobel laureate, Muhammad Yunus, founder of Grameen bank who empowered millions of poor bangladeshis, most of them women, by giving them smaller loans, the loan amount may ran into billions. According to his philosophy, poor people are less susceptible defaulters and pay their loans on time. Though he started his institute as social venture, but it resulted in a very successful business venture.

Another important figure in Microfinance is Vikram Akula, founder of SKS MicroFinance, he left high posh job in america and landed in India to micorfinance impoverished people in India.

Micofinance not only provide a platform for poor but it also create small enterprenuers. Though Microfinance is coined keeping social aspect rather than a capitalist aspect, but a really turned out to be money spinners for banks. Now no banks can ignore these important sect, there are coming and coming in big way to tap these potential customers.

Thanks&Regards,

Mohit Kumar