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Research Journal of Humanities and Social Sciences
Year : 2019, Volume : 10, Issue : 2
First page : ( 568) Last page : ( 576)
Print ISSN : 0975-6795. Online ISSN : 2321-5828.
Article DOI : 10.5958/2321-5828.2019.00093.7

Urban Microfinance in India: Issues and Challenges

Ms. Sethi Vandana*

Associate Professor, Department of Economics, Motilal Nehru College (Morning), University of Delhi, Delhi

*Corresponding Author Email: vandanasethidu@gmail.com

Online published on 25 July, 2019.


With the rapidly growing rural urban migration and increasing settlement of the poor in the cities and town in search of avenues of livelihood, access to adequate and timely finance by urban poor has become an imperative need. This has resulted in shift from earlier total focus on rural poverty to a balanced view that includes urban poverty as well. Urban microfinance, thus has caught immense attention of the policy makers and financial institutions. The size of urban microfinance market has increased significantly and number of players has considerably expanded. With its growing coverage and outreach, urban microfinance has now become an important instrument of urban poverty alleviation. However, inspite of its huge growth potential, urban microfinance is not an easy market because of its diverse client profile, their expectation and variety of products and processes needed. The provision of financial services to the urban poor involves different approach as well as innovative and diverse financial products suitable to the needs of poor and migrant population. Urban areas, especially the big cities, pose various challenge and difficulties. It requires supportive policy, regulatory environment and suitable technology for the orderly growth of urban microfinance sector.



Microfinance, Urban poverty, Microfinance Institutions, Financial services.


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