Journey of Microfinance in India

Exploring the Historical Context and Impact of Microfinance in India

Authors

  • Rakesh Kumar Research Scholar

Keywords:

microfinance, India, micro credit, informal credit groups, susus, chit funds, Rotating Savings and Credit Associations, ROSCAs, tontines, pasanaku, hui, informal financial institutions, Nigeria, Ghana, West Africa, Bolivia, China

Abstract

The concept of micro credit is not new. It existed in every society in one form or other. Many informal credit groups have been operating in many countries for several years like the susus in Nigeria and Ghana, chit funds and Rotating Savings and Credit Associations (ROSCAs) in India, tontines in West Africa, pasanaku in Bolivia, hui in China etc. It is believed that initially, the informal financial institutions emerged in Nigeria dating back in the fifteenth century.

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Published

2017-07-01

How to Cite

[1]
“Journey of Microfinance in India: Exploring the Historical Context and Impact of Microfinance in India”, JASRAE, vol. 13, no. 2, pp. 255–257, Jul. 2017, Accessed: Jun. 01, 2025. [Online]. Available: https://ignited.in/index.php/jasrae/article/view/6797

Issue

Vol. 13 No. 2 (2017): Journal of Advances and Scholarly Researches in Allied Education (JASRAE)

Section

Articles

How to Cite

[1]
“Journey of Microfinance in India: Exploring the Historical Context and Impact of Microfinance in India”, JASRAE, vol. 13, no. 2, pp. 255–257, Jul. 2017, Accessed: Jun. 01, 2025. [Online]. Available: https://ignited.in/index.php/jasrae/article/view/6797