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Prelims

Nishi Malhotra (Assistant Professor, OP Jindal Global University)

Microfinance and Development in Emerging Economies

ISBN: 978-1-83753-827-0, eISBN: 978-1-83753-826-3

Publication date: 4 September 2023

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Citation

Malhotra, N. (2023), "Prelims", Microfinance and Development in Emerging Economies, Emerald Publishing Limited, Leeds, pp. i-xix. https://doi.org/10.1108/978-1-83753-826-320231009

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Emerald Publishing Limited

Copyright © 2023 Nishi Malhotra. Published under exclusive licence by Emerald Publishing Limited

Half Title Page

Microfinance and Development in Emerging Economies

Title Page

Microfinance and Development in Emerging Economies: An Alternative Financial Model for Advancing the SDGs

By

Nishi Malhotra

Assistant Professor, OP Jindal Global University

United Kingdom – North America – Japan – India – Malaysia – China

Copyright Page

Emerald Publishing Limited

Howard House, Wagon Lane, Bingley BD16 1WA, UK

First edition 2023

Copyright © 2023 Nishi Malhotra.

Published under exclusive licence by Emerald Publishing Limited.

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No part of this book may be reproduced, stored in a retrieval system, transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without either the prior written permission of the publisher or a licence permitting restricted copying issued in the UK by The Copyright Licensing Agency and in the USA by The Copyright Clearance Center. Any opinions expressed in the chapters are those of the authors. Whilst Emerald makes every effort to ensure the quality and accuracy of its content, Emerald makes no representation implied or otherwise, as to the chapters' suitability and application and disclaims any warranties, express or implied, to their use.

British Library Cataloguing in Publication Data

A catalogue record for this book is available from the British Library

ISBN: 978-1-83753-827-0 (Print)

ISBN: 978-1-83753-826-3 (Online)

ISBN: 978-1-83753-828-7 (Epub)

Dedication

I dedicate this book to my parents, sister and the Indian Armed forces. Above all I thank the almighty God and our priest for his blessings.

List of Figures and Tables

Chapter 1
Handicraft Industry in Nepal – Paradigms of Poverty
Figure 1. Reasons for Poverty.
Figure 2. Factors Impacting the Level of Poverty.
Figure 3. Sources of Poverty.
Figure 4. SDG (Sustainable Development Goals) Approach to Poverty.
Figure 5. Broad Definition of Poverty.
Chapter 2
Flower Industry and Village Community of Meghalaya
Figure 1. Social Capital in a Group Lending.
Figure 2. Systems View of Social Capital.
Figure 3. Social Capital Through the Institutionalisation of Shared Norms.
Figure 4. Operational Mechanism for Social Capital.
Figure 5. Information as Source of Social Capital.
Figure 6. Constituents of Social Contract.
Figure 7. Impact of Community Organisation on Development Through Social Capital.
Chapter 3
Digitisation of the Bombay Stock Exchange
Figure 1. Circular Flow of Economy.
Figure 2. Type of Financial Markets.
Figure 3. Role of Financial Literacy to Promote Inclusive Financial System.
Figure 4. Financial Inclusive System in India.
Chapter 4
Ingreso Solidaro – Digital Inclusion
Figure 1. Factors Impacting the Adoption of Digital Inclusion.
Figure 2. Factors Impacting the Adoption of Technology.
Figure 3. Use of PPI Instruments and Financial Inclusion.
Figure 4. Credit Card Usage and Financial Institution.
Figure 5. Debit Card Usage at ATM and POS.
Figure 6. Electronic Payment System.
Figure 7. Real Time Gross Settlement.
Figure 8. Technology Acceptance Model for Self-Help Groups Within the Framework of Dynamic Punctuated Equilibrium.
Chapter 5
The Cashless Economy of India
Figure 1. Vision of Digital India.
Figure 2. Vision of Digital India.
Figure 3. Benefits of e-Governance.
Figure 4. Policy Ecosystem for Regulation of Digital Transactions.
Figure 5. Total Digital Transactions in India.
Figure 6. UPI Transactions in India.
Chapter 6
Pradhan Mantri Jan Dhan Yojana
Figure 1. Financial Systems.
Figure 2. Inclusive Financial Systems.
Figure 3. Priorities in Inclusive Finance.
Figure 4. Challenges to the Inclusive Financial System.
Chapter 7
Rehman and His Self-Help Promoting Institute Is Helping to Form Self-Help Groups
Chapter 8
Mid-Day Meal Scheme – A Social Scheme
Figure 1. Social Policy and Its Importance for Modernisation.
Figure 2. Costs of Social Welfare.

Chapter 4
Table 1. Use of PPI Instruments and Financial Inclusion.
Table 2. Credit Card Usage and Financial Inclusion.
Table 3. Debit Card Usage at ATM and POS.
Table 4. Electronic Payment System.
Table 5. Real-Time Gross Settlement.
Table 6. Pradhan Mantri Jan Dhan Yojana Account.
Table 7. Pradhan Mantri Jan Dhan Yojana.
Table 8. Organisational Agility and Impact on Behavioural Dispositions.
Table 9. Models of Punctuated Equilibrium.
Table 10. Punctuated Equilibrium and Snow and Miles Typology for IS Alignment.
Table 11. Organisational Agility Through IT Alignment Through the Theoretical Lens of the Dynamic Punctuated Equilibrium Model.
Chapter 5
Table 1. Temporal Strategy – Description of Turn of Events in Digitisation.

List of Abbreviations

APES

Aadhaar Enabled Payment System

APMC

Agricultural Produce Market Committee

BHIM

Bharat Interface for Money

CBLO

Collateralized Borrowing and Lending Obligation

CMC

Computer Maintenance Corporation

CMIE

Centre for Monitoring Indian Economy

CPI

Consumer Price Index

CSC

Common Service Centres

DAY

Deendayal Antyodaya Yojana

FINTECH

Financial Technology

FPO

Follow on Public Offer

ICT

Information and Communications Technology

ILO

International Labour Organization

KYC

Know Your Customer

LPG

Liquefied Petroleum Gas

MFI

Microfinance Institution

MNREGA

Mahatma Gandhi National Rural Employment Guarantee Act

MYRADA

Mysore Resettlement and Development Agency

NABARD

National Bank for Agriculture and Rural Development

NACH

National Automated Clearing House

NEFT

National Electronic Funds Transfer

NFS

National Financial Switch

NHM

National Health Mission

NICS

National Institute for Career Service

NOFN

National Optical Fibre Network

NPCI

National Payments Corporation of India

NRLM

National Rural Livelihood Mission

PAC

Producer Agricultural Companies

RBI

Return on Investment

RBV

Resource Based View

ROI

Return on Investment

RUPAY

Rupee and Payment

SBLP

Self Help Group Bank Linkage Programme

SDG

Sustainable Development Goal

SEBI

Securities and Exchange Board of India

SHG

Self Help Group

SSDG

State Portal and State Service Delivery Gateway

SWAN

State Wide Area Network

TAM

Technology Acceptance Model

UID

Unique Identity Number

UN

United Nation

UNDP

United Nation Development Programme

VRIO

Value, Rarity, Imitability and Organization

About the Author

Dr. Nishi Malhotra has completed her PhD from Indian Institute of Management, Kozhikode in Finance, Accounting and Control in the domain of the Analysis of Self-help Group Bank Linkage programme. She has completed her MBA (full time) from MDI Gurgaon (Management Development Institute, Gurgaon) and BCOM (Hons) from Sri Ram College of Commerce, Delhi University. She has qualified for UGC NET in Commerce and has authored more than 16 research papers across various ABDC – B, and C category journals. She has also authored papers in the Journal of Human Values, Q1 and Scopus-listed journals. She is publishing a book with Emerald Publishing in the domain of Microfinance and published two academic reference books on income tax laws and cost accounting. She has been a topper throughout her school from Class II till Class XII.

Preface

This book talks about the issues developing economies face in achieving sustainable development goals of poverty reduction. Within the developmental paradigm of poverty reduction through microfinance, this book highlights the temporal shift in policy framework prescribed by the United Nations and World Bank to tackle the issue of poverty, with customisation for developing nations. This book highlights the uniqueness of the microfinance programme adopted by India in terms of the blend of democratic participation of the poor within the framework of self-reliance through the generation of profits. Various microfinancing initiatives aimed at promoting self-reliance through financial literacy, entrepreneurship, skill development and financial discipline enforced through monitoring and supervision are at the forefront of the success of these initiatives. This book, for the first time, discusses in detail the uniqueness of the innovative welfare schemes adopted by the Indian Government.

Acknowledgement

I dedicate this book to my parents; without their help, I would not have been able to publish this book. I want to thank the almighty for all the encouragement. Above all, I would like to thank the Government of India and the state of Kerala. Thanks to the Emerald Publishing team for making this possible. I am grateful for the outstanding support from Emerald. In particular, I would like to thank Lisa Goodrum – Commissioning Editor – Responsible Management.

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