When it comes to poverty then, India, for a long time after Independence, has remained a poverty-stricken nation due to the exodus of wealth by the colonial powers. For a long time and still, India has been an agrarian nation where the majority of the population is involved in agricultural activities.
However, with the rise of urbanization in the country the modern banking solution has still not entered the rural areas, and many individuals are yet to be served with the basic banking system.
Microfinance is the tool through which the...
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