Role of Micro Finance Institutions in Rural Development

India remains predominantly a rural economy, with 70% of its people living in rural areas and more than 52 percent of population depends on Agriculture and allied activities. Higher incidence of poverty and unemployment are main problems in rural India, It affecting the rural economy as well as the overall economy of the nation. The NSSO (59th round) estimates that nearly 50 percent of the cultivator households; mostly marginal farmers have virtually no access to credit. Hence Micro Finance Institutions are plays a key role in the overall economic and social well being of the county