Selvaraj N, Balajikumar P and Alagukanna AS
Micro-credit is a critical antipoverty tool, a wise investment in human capital. When the poorest especially women receive credit, they become economic actors with power to improve not only their own lives, but in a widening circle of impact, the lives of their families, their communities and their relations. Microfinance helps the NGOs all over the world in alleviation of urban and rural poverty through promoting micro enterprises as a solution to the problem of unemployment and underemployment among the poor. In India also NGOs use this methodology for financing the poor. MYRADA in Karnataka and SEWA in Gujarat are the forerunners in the field in India. SEWA has promoted a cooperative bank exclusively for women and is engaged in financing income generating activities of women. Friends of WWB (FWWB) Ahmedabad, an affiliate of Women’s World Banking, New York, networks with NGOs giving financial assistance to women groups. The total value of assets includes movable and immovable assets owned by the respondents and their family members. The assets indicate the financial background of the respondents before availing credit. Assets of the respondents increased due to the additional income earned through new activities and savings.
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