Role of Micro Finance in Poverty reduction: A case study of Khushhali Bank limited Larkana and Sukkur
| Main Authors: | Prof Dr Ambreen Khaskhelly –, Munawwar Kartio, Albeena Mirza, Aisaha Basheer Shah, Ms Tanveer Mustafa |
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| Format: | Article eJournal |
| Bahasa: | eng |
| Terbitan: |
, 2016
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| Subjects: | |
| Online Access: |
https://zenodo.org/record/3530279 |
Daftar Isi:
- This Research study is aimed at to elaborate the role of micro finance on poverty alleviation in Pakistan, a case study of Khushhali Bank of Pakistan was conducted. The objective of this research study is to shed light on the means which may cause the reduction in poverty, to uplift the standard of living of the poor on sustainable grounds and to augment the economic growth and development. Micro credit is basically an alternative of formal credit hence its role was evaluated. A close ended questionnaire was used as measurement tool to collect data from primary sources. The questionnaire contains several aspects like improvement in standard of life, loan sanctioning Turnaround Time, the rate of interest charged and what customers feel in terms of asset building, profitability and improvement of standard of life. It was concluded from this study that micro financing is relatively easy and quickly granted as compared to formal lending. Customers have easy approach and dealing environment is customer friendly. However rate of interest is quite high than that of commercial lending due to one reason that it comes in the purview of clean lending as no collateral is involved. Recommended that rate of interest should be reduced and amount of loan should be increased to cater the needs of poor and maturity should also be at least of one year from date of advance and in case of agri sector it should be not less than crop cycle. Moreover it is suggested that network of branches should be widened to cater the needs of masses living in rural areas.