Impact of Microfinance on Self Help Groups in Developing Countries with special reference to India
Prof Mohi ud Din Sangmi, Prof Syed Javed Iqbal Kamili

Abstract
Microfinance across the globe has reached to a significant level and in India microfinance is also spreading very fast across Indian States consequently, the current study examines the impact of Microfinance on the socioeconomic conditions of the Microfinance beneficiaries in the Kashmir Division of J & K State India.The Swarge Gram Swarozgari Rojna (SGSY) program which was launched in the state in the year 1992 for poverty alleviation purpose and the creation of Self Help Groups (SHGs) was done in all the districts of J&K under this program. The present study made an attempt to examine the impact of microfinance on the Self Help Groups (SHGs) in the selected districts of India in Kashmir Division of J&K State. It is observed in this study that microfinance development has a significant impact on poverty alleviation of microfinance beneficiaries. Education dimension has gained significant progress in urban microfinance beneficiaries as compared to Rural Microfinance beneficiaries however; the scheme is equally poised in the Rural Urban areas of the Kashmir Division in respect of Poverty alleviation.

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