EmergenceofMFIsandthegrowthofMicrofinanceSectorinIndia.docVIP

Emergence of MFIs and the growth of Microfinance Sector in India On 12th July 2002, Prime Minister Atal Behari Vajpayee outlined an eight point agenda to push the economy on a growth path of eight percent during the 10th plan. Mr. Vajpayee assured that it would be government’s endeavour to ensure that “ the poor and the unorganized sector have access to savings, credit and insurance services”. This statement itself is a great boost to the microfinance sector, as one can see the changing perception of the people influencing the policies, toward it. However, it is still a beginning and to make