Role of Micro-Finance Banks & Institutions in Creating Self-Employment

Madhushree Sur

Abstract: It is very difficult in this competitive world to sustain one?s living. In fact it has become very critical to find out what to do and how to do? The question is- Are we able to sustain properly? The objective is to keep oneself aware of the surrounding environment and find out the suitable ways to keep oneself engaged along with some securities. We may find many individuals who are not interested to work under anyone. They want to pave their own path and achieve something of their own. But the major barrier while starting such venture is CAPITAL. Arranging capital for starting new venture is really a challenge. For entrepreneurs who don?t have financial support to start up with a business, micro-finance is the best option. At a low investment cost, it provides a source of financial services, insurance, loans and such other facilities to poor entrepreneurs who have no other options or who are not able to qualify for standard loan. Such facilities are provided by institutions that are named as Micro Finance Institutions. Such institutions may range from non- profit organizations to large banks. The current paper is concerned about the role that has been played by micro-finance in developing self- employment. The emphasis is on the previous developmental works as well as on the future implications. This work will help potential entrepreneurs to focus more on their mission. Such work will open up the scope of employment as well as creativity.

Keywords: Micro-Finance banks, Micro-Finance Institutions, Self-Employment