ISSN : 2349-6657

DIGITAL PAYMENT FOR MICRO FINANCE

N.USHA, V.S.BHARATHIPRIYA



Poverty exposes poor to unfavorable and uncontrollable circumstances, restricting them to avail services from formal banking sector. Imminent need for providing required financial services to needy for improvement in standard of living through an organized sector gave birth to microfinance in India. Microfinance based on philosophy of Grameen Bank of Bangladesh initiated by Dr. Mohammad Yunus, emerged to offer such resources and spectrum of financial services to poor. Microfinance institutions have come a long way in bringing a change by benefitting poor and underprivileged by providing access to capital. Further, digitization of microfinance institutions has emerged as the new wave and these institutions are persistently working on technology advancement to enhance efficiency and effectiveness.

E-filing,G-Pay,NEFT,Digitalization

13/11/2020

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