IMPACT OF MICROFINANCE ON SMES IN RANCHI DISTRICT: AN ANALYTICAL STUDY

Author Name: 1. Yogendra Mahto, 2. Dr Nazia Abbas Abidi

Volume/Issue: 03/06

Country: India

DOI NO.: 08.2020-25662434 DOI Link: https://doi-ds.org/doilink/11.2024-58842866/UIJIR

Affiliation:

1. Research Scholar YBN University, Ranchi, Jharkhand, India.
2. Assistant Professor, YBN University, Ranchi, Jharkhand, India.

ABSTRACT

Microfinance has been recognized as a vital instrument in the promotion of entrepreneurship and economic development, particularly in emerging economies. This study analyzes the impact of microfinance on Small and Medium Enterprises (SMEs) in the Ranchi district of Jharkhand, India. By examining access to capital, employment generation, and women empowerment, this research provides insights into how microfinance contributes to the growth and sustainability of SMEs in Ranchi. The study employs a mixed-methods approach, including surveys and case studies, to understand the multifaceted effects of microfinance on SMEs. Findings reveal significant positive impacts, though challenges such as high-interest rates and financial literacy remain.

Key words: Microfinance, SMEs, Ranchi, Economic Development, Entrepreneurship, Employment Generation, Women Empowerment