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The Microcredit Foundation Of India And Poverty In India

1131 words - 5 pages

The Microcredit Foundation of India is a non- profit organization, and effective tool for alleviating poverty. The Microcredit Foundation has its base located in southern rural India. Microcredit works with just about everyone who needs their help; however their focus is women. Microcredit presents the women of rural communities with the opportunity to start a business. The services of micro credit are dedicated to creating a better stable economy, opportunities in the establishment of medium sized enterprises, and co-operative development. The Microcredit Foundation of India provides sufficient and affordable customer oriented funding and other financial services as well as consulting and training to the target groups. Microcredit also provides a means of successful social mobilization and empowerment program to lead the credit delivery, even the poorest of the poor stand to benefit from microfinance.
The mission is to have a system in which regular banks could make cheap loans in farming areas that would usually not possible for non-profit. Microcredit has successfully developed 95 rural branches of the bank. These branches successfully renewed and expanded the business of rural areas. It transformed rural banking into a distinct business activity with profit potential (The Swedish Microcredit Foundation). The interaction and the overlapping of financial activity have been increasing quite well in the for-profit organizations, formal financial sector and have been linked to other banks and business. Out of this overlapping and interaction which is now taking place between the for-profit and non-profit organizations is the reason the there are more opportunities in the rural area today then there were before Microcredit was around to give a helping hand to all who needed it.
Every company that was ever created or will ever be created has had an impact on the society the only question is whether that impact is a positive one or not. Microcredit firms had done well beyond what they have done for individual borrower. The Microcredit Company created products and services that facilitate greater access to new markets by involving the poor (The Swedish Microcredit Foundation). Unlike most of the organizations, which focus mostly on the rich and prosperous part of the society, microcredit focused on the poor and run-down part of the society. Instead of treating the poor as labor or hired help, microcredit saw them as creative entrepreneurs. Women were also involved in this whole process. As a matter of fact, women probably made up the largest part of the team. So not only is it inspiring the society with a stable economy, it’s also eliminating gender based discrimination.
The vast majority of the loans go to women because studies have shown that women are more likely to reinvest their earnings in the business and in their families. As families cross the poverty line and micro-businesses expand, their communities benefit. Jobs are created;...

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