Micro Finance will be strengthened: Rajashekaran

Thiruvananthapuram, June 20 (UNI) Stating that the country's Micro Finance Project was one of the largest micro financing programmes in the world, Union Minister of State for Planning M V Rajasekharan today said the Micro Finance Project would be strengthened in the coming years.

Inaugurating a workshop on micro credit here, he said about two million households in the country were covered under the project and women contributed on a large scale.

He said micro entrepreneur women not only contributed to the national income but also created reliable social safety nets.

Kudumbasree units in Kerala were the best example, he pointed out.

While delivering his keynote address, Kerala Planning Board Vice Chairman Prabhat Patnaik said the high interest rate, transactional rate and recovery rate in the micro credit system were the biggest problem faced by this sector.

UNI