Microfinance​

Nobel laureate Muhammad Yunus is the father of microfinance. The Self Employed Women's Association (SEWA) Cooperative Bank, which started its operations in Ahmedabad, Gujarat in 1974 for the upliftment of women , was the first microfinance institution in India. It was led by a social activist named Ila Bhatt. The aim of microfinance is to uplift the economically backward. It aims to inculcate the habit of saving among such people and to find self-employment. Kudumbashree units and self-help groups are an active presence in the field of microfinance in our country. These help in earning a regular income through small business ventures.