MICRO-FINANCE AND ITS IMPACT ON POOR, THEIR LIVING STANDARD, EMPOWERMENT AND POVERTY REDUCTION

Abstract

Microfinance and to examine the impact of microfinance on the poor people of the society We for the most part compact our theory through customer's (the poor people, who obtained credit from microfinance establishments) point of view and develop our exploration in light of it. In this manner, the goal of this investigation is to demonstrate how microfinance functions, by utilizing group lending system for reducing poverty and how it influences the living standard (income, saving and so forth.) of the poor people. Microfinance, which is one of the devices utilized as a part of poverty reduction, has been with us since time immemorial. In Nigeria it is customarily established, while giving credit and money related administrations to the poor or low-salary workers. There are people with self improvement gatherings, pivoting investment funds and relationship with a few exercises helping members to leave poverty and so forth. The main aim of this research paper is to analyze the impact of microfinance on poor people regarding living standard, empowerment, and poverty reduction.