Mobile technology in microfi nance: empowering the unreachable
To study the impact of microfinance-plus services on the welfare of member households of microfinance, a multistage sampling technique was adopted in the selection of the units. The advocates of microfinance argue that the access to credit-plus services can help reduce poverty substantially through increased income and employment. Caste is one of the imperative characteristics that specify the social status of the households in the society. From the study, it is found that a considerable proportion of the sample households belong to other backward castes (OBCs), scheduled tribes (STs) and scheduled castes (SCs). The microfinance programme in the study areas has diversified the occupation of the member households. Social impact of the credit-plus services on the household economy was examined through the development of human and social capital. The social network plays a pivotal role in improving the economic, social, political and psychological life of the poor.