Microfinance Institutions (MFIS) Outlook
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In the last two decades, the banking sector has undergone a paradigm shift. An important element of the banking sector transformation has been the emergence of micro-financing (MF) as an innovative savings and loan mechanism for the poor. MF emanated from inadequate social safety net for the vulnerable sections of society and the inaccessibility of the formal banking system. Self-help, savings and credit groups helped to streamline the existing credit delivery mechanism by increasing the outreach of credit and enhancing the viability of institutions in rural credit.