Role of Microfinance as a Credit Market Instrument in the Development of Smeâ€™s in Kashmir Division

Dr. Suhaila Sikeen Khan

Role of Microfinance as a Credit Market Instrument in the Development of Sme’s in Kashmir Division

Dr. Suhaila Sikeen Khan * §

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§ Islamia College of Science and Commerce

Role of Microfinance as a Credit Market Instrument in the Development of Sme’s in Kashmir Division

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Abstract

Microfinance refers to small savings, credit, insurance and remittance services extended to socially and economically disadvantaged segments of society. It is the provision of financial services to low income, poor and very poor self-employed people. These financial services generally don’t include savings and credit but also include other financial services such as insurance and payment services. Further, microfinance is a deliberate attempt made by the credit markets to improve the access to small deposits and loans for poor households neglected by major financial institutions. Microfinance institutions do not require any collateral for their loans. In fact these MFI’s create incentives for each individual within the group to repay their loans.

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

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Not applicable for this article.

How to Cite This Article

Dr. Khan. 2021. "Role of Microfinance as a Credit Market Instrument in the Development of Sme’s in Kashmir Division". Global Journal of Management and Business Research, Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 21 (GJMBR Volume 21 Issue C2).

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GJMBR Volume 21 Issue C2

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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Classification

GJMBR-C Classification JEL Code: G21

Submission ReceivedJune 15, 2021
Peer Review Double Blind
Handling Editor
Accepted July 3, 2021
Published July 15, 2021

Version of record

v1.2

Issue date

March 19, 2021

Language

English

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