<p>The Economic Survey 2019-20 revealed that as of 2016, 97% of the borrowers from Microfinance Institutions (MFIs) were women.</p>.<p>The survey also highlighted that SC/ST and minorities accounted for around 30% and 29% of the borrowers.</p>.<p><strong>Follow live updates of Economic Survey 2019-2020 <a href="https://www.deccanherald.com/liveblog/economic-survey-2020-live-public-sector-firms-record-rs-175-lakh-crore-profit-in-fy19-799935.html" target="_blank">here</a></strong></p>.<p>"This shows that the loans given by these MFIs primarily cater to the marginal sections of the society," said the survey.</p>.<p>The United Nation’s declaration of Microfinance year in 2005 highlighted the role of MFIs in poverty alleviation. Some MFIs have transformed themselves into banks as well, the survey added. </p>
<p>The Economic Survey 2019-20 revealed that as of 2016, 97% of the borrowers from Microfinance Institutions (MFIs) were women.</p>.<p>The survey also highlighted that SC/ST and minorities accounted for around 30% and 29% of the borrowers.</p>.<p><strong>Follow live updates of Economic Survey 2019-2020 <a href="https://www.deccanherald.com/liveblog/economic-survey-2020-live-public-sector-firms-record-rs-175-lakh-crore-profit-in-fy19-799935.html" target="_blank">here</a></strong></p>.<p>"This shows that the loans given by these MFIs primarily cater to the marginal sections of the society," said the survey.</p>.<p>The United Nation’s declaration of Microfinance year in 2005 highlighted the role of MFIs in poverty alleviation. Some MFIs have transformed themselves into banks as well, the survey added. </p>