Evolution of Microfinance in the Indian Economy
The expression microfinancing has its roots in the 1970s when organizations, such as Grameen Bank of Bangladesh with the microfinance pioneer Mohammad Yunus, were starting and shaping the modern industry of microfinancing. In India, the concept of microfinance first came into existence in 1974 when Mrs. Ela Bhatt started the Self-Employed Women’s Association (‘SEWA’) of…