22
edits
Changes
no edit summary
*
<font size="3"><font size="3">Poverty in India has become urbanised. Urban poverty in India is over 25 percent; some 81 million people live in urban areas on incomes that are below the poverty line. At the national level, rural poverty remains higher than urban poverty.</font></font>
<font size="3"><font size="3">The Michael & Susan foundation extended it's hands to India in 2006 and since that it has been doing a great job in minimizing the urban poverty by taking steps that phenomenally benefit the urban poor people. Such as giving financial support aligning with the help of organizations like “JANALAKSHMI FINANCIAL SERVICES” .,a organization in Benguluru giving loans and showing a profitable way to urban women so that they stand on their own feet which indirectly supports the education of children and leads to the economical growth of the country.</font></font>
<font size="3"><font size="3">With the help of loans people can start small business that leads them to be connected with sustainable market-based profits</font>for this Michael and Susan partnering with a range of stakeholders, including governments, businesses, NGO s, implementation experts, community organizations and other philanthropies.</font><span style="font-size:medium"></span>
<font size="3">for this Michael and Susan partnering with a range of stakeholders, including governments, businesses, NGO s, implementation experts, community organizations and other philanthropies.</font>
<font size="3">Almost 10 years ago, urban microfinance was practically nonexistent in India. The reason? Potential investors and entrepreneurs believed existing models of group lending that were effective in rural communities couldn’t be replicated in urban communities.</font>
<span style="font-size:medium">Foundation always believed that with the right product, focus and passion, coupled with relevant approaches and aligned investors, new markets could be catalyzed. With that in mind, in 2006, they set out to start a strong urban microfinance industry through equity investments and grants to early-stage, high-potential Microfinance Institutions (MFIs) including early innovators Ujjivan and Janalakshmi. Today, the urban microfinance market in India has an estimated seven million clients.</span> <span style="font-size:medium">Promoting digital financial services because they increase access and inclusion while reducing costs.</span>
= Impact Achieved For Students and Campus =