The Effect of Microfinance on Living Standards and Social Aspects of People in Alappuzha District of Kerala, India

C.V. Durgalashmi, Yadhu Raj and Dr.N. Ajith Kumar

Poverty reduction is one the main problems faced in underdeveloped and developing countries. Microfinance is a powerful tool, deployed in some of these countries, to mitigate poverty. This paper reports on an empirical study that explored the influence of microfinance on the standard of living and social aspects of people in India, where is marine products and agriculture are the major sources of income. Alappuzha, a district of the state Kerala, India was selected for this investigation, as major segment of microfinance stakeholders here depends on industries related to marine products and agriculture, for their livelihood. This study shows that microfinance has facilitated significant improvements in the standard of living and social aspect of neighborhood group(NHG)members, in Alappuzha district. However, the study indicates that there were no significant improvements on house hold developments for NHG members in Alapuzha through Kudumbashree.

Volume 12 | 03-Special Issue

Pages: 508-514

DOI: 10.5373/JARDCS/V12SP3/20201286