It is a type of banking service provided to unemployed or low-income individuals or groups who have no access to other financial services. Under this, especially small amount is given to the people in the form of loan. It is refunded on a weekly or monthly basis. This loan is given to an individual or group. Many banks offer additional services such as loans on financial and vocational education, savings accounts as well as micro insurance products, and some other services. Microfinance aims to provide opportunities to the poor and low-income people to become self-reliant. At present there are many micro finance companies operating in rural areas. The special thing for you is that due to the arrival of many private sector companies and NGOs in this sector, job opportunities have increased a lot at every level.
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Education & Courses for Micro Finance
Most of the youth who want to get into this field should have at least B.Com or a graduate in Economics. In today’s time, most of the specializations are done in finance in the institutes teaching management. This is because of its increasing demand among the youth. Many courses in finance of six months to three years duration, diploma, PG diploma, graduation and master level are offered in many institutes. In this field you can do PG Diploma in Financial Planning and Management, Bachelor in Financial and Investment Analysis, BA.MA in Finance, BSc in Financial Accounting, PG Diploma in Financial Planning and Wealth Management and PG Diploma in Management and Financial Engineering courses .
Career Prospects in Micro Finance
You can get many career opportunities in this field. In today’s time many microfinancing companies are expanding their services. Microfinancing services in this sector are currently provided by various banks apart from NABARD and SIDBI of the Government of India. Which mainly includes SBI, Bandhan Bank, besides microfinance institutions SKS Microfinance, Janalakshmi Financial Services, Ujjivan Financial Services Ernst & Young, Bandhan, SKS, Microcredit Foundation of India etc. Where you can work in positions like Financial Advisor, Credit Analyst, Financial Analyst, Equity Research Analyst and Manager.
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Salary And Package In Micro Finance
After completing the course, if you join any company as a pressure, then you can get 20 to 25 thousand rupees per month in the beginning. On the other hand, when you have a few years of experience, then your salary can reach from 40 thousand to lakhs of rupees. Today there are many such professionals, who are earning up to 1.5 lakh rupees per month. Teachers and consultants also earn good income.
can from hereare courses
- Xavier School of Management, Jamshedpur (Xavier School of Management, Jamshedpur)
- Department of Financial Studies, New Delhi
- Indian Institute of Financial Planning, New Delhi (Indian Institute of Financial Planning, New Delhi)
- Delhi School of Business, New Delhi (Delhi School of Business, New Delhi)
- Banaras Hindu University, Varanasi
- Narsee Monjee Institute of Management Studies, Mumbai