Evolution of Microfinance – A Literature Review
Keywords:
Microfinance, models, literature review, Self Help Groups, Joint liability groupsAbstract
Microfinance as a concept is not new. However, over a period of around 35 years the interpretation, delivery models, stakeholders have changed drastically. The base idea remains the same which is to uplift the poorest of poor. This paper delves into some of the literature which has been done on microfinance. The literature covered is not exhaustive by any means, which is also a limitation of this paper. However, the different models of microfinance and their delivery mechanisms have been covered. This is a conceptual paper and the main aim is to collate the existing literature in microfinance to identify the research gaps for further study. Though there has been extensive study on microfinance there are few research papers which have compared existing microfinance models. This research gap needs to be exploited further and the authors would be working in this direction in future.
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