Abstract
Micro finance has gained significance and momentum during the last decade. India now occupies a significant place and a niche in global micro finance through promotion of the self-help groups (SHGs) and the home-grown SHG-Bank Linkage model. The Indian model offers promise and potential to address poverty as it is focused on building social capital through providing access to financial services. In the words of Nobel Peace Prize winner for the year 2006 Muhammad Yunus, “lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty. Micro credit is one such means. Development from below also serves to advance democracy and human rights”. Thus, the new concept of micro finance had emerged with self-help groups.
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