Impact Of Microfinance On The Socio - Economic Development In Chennai, India - An Empirical Study

Abstract

This paper analyses the impact of microfinance on the standard of living and the socio-economic development of the clients of microfinance living in the urban district of Chennai. It takes into consideration the effect of microfinance on the level of income, savings, entrepreneurial activity and the rate of interest charged by the moneylenders in this district. The statistical tool of Chi-square test has been used in order to determine whether the impact of microfinance on the recipients of microfinance is significant or not.