Impact of Financial Inclusion in the Development of MFI and SHG: A Case Study of Allahabad District

Abstract

Access to financial facilities has been familiar as a main facet of growth and more importance is given to prolonging financial services to poverty families as the lack of education and awareness desired to recognize financial facilities that are obtainable to them. The lack of fiscal access confines the range of facilities and credits for domestic and enterprises. Although there is some indication that approaches is refining but still there are several issues which have influenced the access to financial facilities.
Some investigation are completed on the financial inclusion with selected microfinance, Islamic microfinance studies, progress of financial inclusion. A limited studies has been analysed the influence of financial inclusion of Indian through the development of MFI’s and SHG’s. With this backdrop, this study is an effort to find the status of financial inclusion among the Muslim minorities of Eastern Uttarpradesh.
the study deals with a limited number of households and focused on the socio- demographic details, occupational and vocational status, profile of income, expenditure, accessibility of financial inclusion, pros and cons of Islamic microfinance, pros and cons of government bank and perception toward Islamic microfinance among the Muslim population in Allahabad city.