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After achieving Independence in 1947, the Government of India and
the Reserve Bank of India (RBI) have made concerted efforts to
provide the poor with access to credit. Despite the phenomenal
increase in the physical outreach of formal credit institutions in
the past several decades, the rural poor continue to depend on
informal sources of credit. Institutions have also faced
difficulties in dealing effectively with a large number of small
borrowers, whose credit needs are small and frequent and their
ability to offer collaterals is limited. Besides, cumbersome
procedures and risk perceptions of the banks leave a gap in serving
the credit needs of the rural poor. It is in this context that
micro credit has emerged as the most suitable and practical
alternative to the conventional banking in reaching the hitherto
unreached poor population. Micro credit enables the poor people to
be thrifty and helps them in availing the credit and other
financial services for improving their income and living standards.
The Self-help Group (SHG)-Bank Linkage Programme was formally
launched in the year 1992 as a flagship programme by National Bank
for Agriculture and Rural Development (NABARD) and aptly supported
by the RBI through its policy support. The Programme envisages
organisation of the rural poor into SHGs for building their
capacities to manage their own finances and then negotiate bank
credit on commercial terms. This book contains 13 well-researched
papers by experts on the subject which provide analytical
information on various aspects of the micro finance and its impact
on rural economy of India.
Since independence in 1947, numerous programs and schemes in India
have been launched and massive amounts spent for the development of
rural areas. However, the overall socio-economic conditions of
rural people continue to be unsatisfactory. Rural India is still
marked by many disadvantages, such as a high incidence of poverty,
unemployment, illiteracy, malnutrition and related diseases, poor
infrastructure, and more. The failure is chiefly due to the faulty
implementation of development and welfare programs. The enactment
of the Right to Information (RTI) Act 2005 was a landmark in the
history of administration in India. The new legislation has brought
sensitivity, responsibility, and accountability to the development
process in the rural areas. The RTI Act is path-breaking in
controlling corruption and delays in the implementation of
government sponsored programs and in the functioning of public
authorities. This book contains papers by researchers and scholars,
who have studied the scope, the different provisions, the
strengths, and the shortfalls of the RTI Act. They offer valuable
suggestions to make the common man a partner in the development
efforts for rural India.
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