Microfinance and Entrepreneurship in Urban South Asia

Microfinance(MF) has been a revolution and made its mark in the global financial system. It has been acknowledged as an integral part of economic development of any developing country irrespective of the extent of formalization of the sector. The scope of contribution of these micro enterprises may seem negligible in comparison to the enormous formal enterprises in the economic system of any developing country. But the success of MF interventions especially the group lending method - Self Help Group (SHG) model, is irrevocable. In developing economies, SHG is the standard mechanism through which MF services are delivered. And in South Asian countries, MF or Micro credit can be equated to the SHG model. These SHGs have helped urban and rural poor women in developing nations to realize their dreams, pursue a livelihood, obtain freedom from the clutches of a money lender and enjoy credit as a right like the affluent do. This book focuses on the role of Microfinance in inclusive growth in developing economies based on a cross cultural comparison of entrepreneurial behavioral dimensions in four South Asian countries – India, Bangladesh, Sri Lanka and Nepal.