Abstract
After We Got The Independence In 1947, Our Rural People Immensely Played The Important Role To The Economic Development Of Our Country. In The Recent Years, Both Government Of Tamil Nadu And Private Finance Institution Have Aided Them In All Possible Ways To Improve Their Livelihood By Giving Them The Numerous Opportunities, If Is Thing To Share That 60% People Of India Are Living Only In Rural Areas. The Poor People Get Loan From Micro Finance Institution But They Do Not Utilize The Money Properly Because Of Their Low Intellectuality And High Ignorance. So They Could Not Pay Their Due Amount On Stipulated Time And They Are Forced To Get The Money From Other Money Lender To Pay Off The Dues When The Agent Of Former Finance Institution Compelled Then To Pay Back The Same. ‘As Everyone Knows, The Nationalized Bank Give The Loan For Minimum 7% Maximum12% Interest Rate But Non BankingFinancial Institution Gives The Loan For Minimum12%To Maximum36%.So We Can Come To Conclude That Micro Finance institution Makes Adverse Effect To The Rural People. The Studies Aims to Proclaim That Micro Finance Institution Does Not Help To the Poor Rural People but Increases Their Poverty In Our Nation.
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