• Rishabh Agrawal

The present study evaluates the impact and sustainability of group-based microfinance programmed, primarily focused on low-income groups and micro-enterprises. In India, providing them with access to essential financial services that were previously beyond their reach. This research paper investigates the awareness and impact of microfinance services on these marginalized communities. The study encompasses a comprehensive analysis of various microfinance institutes (MFIs) and their role in fostering financial inclusion through microloans, savings, and insurance products. Employing both qualitative and quantitative methods, the research explores the extent of awareness among low-income groups about microservices and assesses the socio-economic impacts of these services on their lives. Findings indicate that while there is a significant positive impact on income stability, employment opportunities, and empowerment, awareness levels remain varied across different regions and demographics. The paper concludes with policy recommendations aimed at enhancing the outreach and efficacy of microfinance services, ensuring that they contribute more effectively to the socio-economic upliftment of India’s low-income population.

Financial inclusion, Low-income groups, Microfinance Institutes (MFIs), Socio-economic, Empowerment.

"Microfinance in India: Awareness and Impact of its Financial Services on Low-Income Groups", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 6, page no.c411-c421, June-2024, Available :http://www.jetir.org/papers/JETIR2406253.pdf

"Microfinance in India: Awareness and Impact of its Financial Services on Low-Income Groups", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 6, page no. ppc411-c421, June-2024, Available at : http://www.jetir.org/papers/JETIR2406253.pdf