Role of Microfinance as a Credit Market Instrument in the Development of Sme#x2019;s in Kashmir Division

Abstract

Microfinance refers to small savings, credit, insurance and remittance services extended to socially and economically disadvantaged segments of society. It is the provision of financial services to low income, poor and very poor self-employed people. These financial services generally don#x2019;t include savings and credit but also include other financial services such as insurance and payment services. Further, microfinance is a deliberate attempt made by the credit markets to improve the access to small deposits and loans for poor households neglected by major financial institutions