Browsing by Author "Moiz Akhtar , Divesh Dutt"

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An in-depth analysis of the impact of microfinance on agricultural revenue in Uttar Pradesh, India
(CRC Press, 2025) Moiz Akhtar , Divesh Dutt
Microfinance is the process of providing short-term loans to individuals, such as farmers and micro entrepreneurs, who want funds to meet their financial needs. Banks typically offer loans to the general public with collateral security and at a set interest rate. Because they lack assets to use as collateral, some people must borrow money from unofficial sources like pawnbrokers and other money lenders, who demand exorbitant interest rates. Therefore, it is necessary to educate the general public about microfinance and the loan process involved. Primary data was gathered in the district of Uttar Pradesh’s rural districts. Analysis of the income disparity between an agricultural farmer who borrows money from a microfinance institution and a farmer who does not borrow money from microloans companies. According to the study, farmers who received microfinance funding for their operations had statistically higher farm incomes than farmers who did not receive such funding. This suggests that borrowing money from microfinance institutions for farming operations would probably boost farmers’ incomes. The study also examined the average fluctuations in MFIs’ interest rates relative to those of non-micro financial institutions. It was discovered that, in comparison to other financial institutions, microfinance charged a lower interest rate.