Author(s): Dipali Hasmukhbhai Gajjar*
Microfinance has been recognized as an important tool for fostering social and economic development, particularly in emerging economies like India. This paper explores the role of microfinance in promoting financial inclusion, poverty alleviation, and overall socio-economic development. A conceptual model is presented, which demonstrates how microfinance can address barriers to development through credit access, empowerment, and sustainable livelihoods. The paper also reviews the current state of microfinance in India, its challenges, and the opportunities for growth.
