Author 1 :- Saurabh Harkut ( Research Scholar )
Author 2 :- Dr. Junaid Hassan ( Assistant Professor )
The present research primarily aims to elucidate the function of microfinance as a mechanism for financial inclusion and economic growth. Financial inclusion, which is having access to meaningful and cheap financial goods and services that suit people's requirements, has been shown to be successful in ending poverty and promoting long-term development. Microfinance has been very important in helping those with low incomes and those who are down on their luck have access to money. The present research used Exploratory Research to assess the influence of microfinance on Financial Inclusion and Economic Development. The research utilizes secondary data sourced from published publications and journals. The primary aim of the study is to assess the influence of microfinance on poverty alleviation, development, and financial inclusion; to comprehend the operational framework of microfinance; to pinpoint its limitations; to highlight effective practices and future recommendations for microfinance practitioners; and to investigate innovations in microfinance, including technology-driven methodologies and alternative financial models. The research may enhance the current literature by elucidating the function of microfinance in economic growth and financial inclusion. The study's findings may assist policymakers, practitioners, and stakeholders in formulating and executing optimal strategies for the efficient operation of microfinance organizations.
