clearly explains the essence of microfinance and its importance in the modern economy. Microfinance is a source of financial services and resources to the small entrepreneurs, villagers and less privileged section of the society. In December 2007, Forbes has brought out a special magazine on microfinance and has described microfinance as the next buzzword. Global Context and History The concept of microfinance is not something new. In fact, the history of the microfinance goes back as early as the 15th
(according to the World Bank reports), micro-finance can play a vital role in providing financial services to the poor and low income individuals. Microfinance is the form of a broad range of financial services such as deposits, loans, payment services, money transfers, insurance, savings, micro-credit etc. to the poor and low income individuals. The importance of micro-finance in the developing economies like India can not be undermined, where a large size of population is living under poverty and large
The experience across India and other countries has shown a robust potential of Microfinance to integrate with the development issues thereby significantly impacting the lives of poor. There are plenty of studies which narrate success stories of many microfinance initiatives across the world and the factors that contributed to its success. Robinson opined that microfinance services in general can help low-income people to reduce the personal risk of going default, improve management
involvement for the banks because in this way banks can search for direction to develop their services quality in order to keep their customers and request aggressive advantage by getting more loyal customers. 1.1 PROBLEM STATEMENT Keeping in view the importance of service quality and customer satisfaction, a study is considered to observe the shock of service quality as a self-determining variable on dependent variable i.e. Customer’s satisfaction 1.2 OBJECTIVE OF THE STUDY The objectives of research
polices that will reduce poverty gradually is the introduction to the topic of microfinance and
EFFECTS OF MICRO FINANCE SERVICES ON THE GROWTH OF MEDIUM AND SMALL ENTERPRISES CHAPTER ONE 1.0 INTRODUCTION 1.1Background of the study Promotion of MSE sector in Kenya is a viable and dynamic strategy for attaining the national goals which includes employment creation, balanced development between sector and sub sectors and poverty alleviation.This sector have been the means through which accelerated growth and rapid industrialization have been achieved.Koech(2011)
concern in Pakistan and many strategies including microfinance has been introduced to finish this poverty. In addition, microfinance is on its early stages in Pakistan. Although some researcher already conducted studies about microfinance in different cities but there is no comprehensive study regarding the impact of microfinance in district Nankana Sahib. This chapter will give some brief overview about Pakistan, poverty status and prevalence of microfinance in Pakistan. 4.1 Pakistan at a glance Pakistan
is having a beneficial impact on deposit and credit penetration. Although, the strength of causality weakens in case of credit penetration. The income level has a positive impact on both credit and deposit penetrations. The finding validates the importance of regional economic conditions on the betterment of financial inclusion. Further, the factory proportion and employee base are coming out to be significant variables indicating that income and employment generating schemes lead the public to be
meet the demands of lower and middle income group to meet their urgent need and daily needs. In additional, it also provides capital to small and medium businesses to finance their rolling capital. Abd. Ghafar and Nur Azura (2005) stated that the importance of pawnshop as a credit resource in Malaysia financial market is difficult to estimate because Bank Negara Malaysia does not take into consideration the credit given by the pawnshop in the domestic statistic on the
Introduction There are two concepts of working capital – gross working capital and net working capital. While gross working capital refers to a firm’s investment in total current asset net working capital means the difference between current assets and current liabilities Pandey (2004). According to Rose et al. (2000) a company’s working capital policy refers to the determination of an appropriate level for each of the component of working capital viz. cash, accounts receivable, inventories etc