A Study On The Role Of Microfinance In Enhancing Financial Inclusion Amongst The Urban Poor In Mumbai City

Abstract

Financial inclusion is a critical component in addressing economic inequality and promoting sustainable development. This research examines the role of microfinance in enhancing financial inclusion among the urban poor in Mumbai. The study analyses how microfinance institutions (MFIs) contribute to expanding access to financial services, reducing dependency on informal lending, and empowering economically weaker sections of society. Through primary data collection and secondary literature review, this paper evaluates the effectiveness of microfinance in improving financial stability, promoting entrepreneurship, and fostering economic growth among Mumbai's low-income communities.