| In India, the share of rural population in total population was 74.3%in 1991 which decreased to 72.2% in 2001 census. It was only due to rapid industrialisation and the consequent mitration of rural opulation to urban areas. It may be possible in 2030 it will decline to 60%. In short the bulk of India's popolation lives in rural areas. Microcredit program which was heralded in 1992 with a modes pilot project of linking around 500 SHG. The microcredit program in India is now the largest in the world. Low income people has little access to financial services. Government of India through banking sector, NABARD is supporting for microfinance to these type of SHG along with the bancassurance program for overall development of the poor rural people. |