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ECONOMIC IMPACT OF MICROFINANCE SERVICE ON RURAL FARMERS
ABSTRACT: Microfinance service has more focus on the economic transition to support alleviating poverty through giving financial services to the poor. The main objective of this study was to explore the impact of microfinance service on rural farmers. The study collected the data related with socio-economic status of farmers. The study was conducted among the 385 farmers of Syangja district of Nepal. The study found the significant changed in income and expenditure of farmers after involving in microfinance services. The microfinance services had provided the skill based training for income generation as well as provided the loan facilities to promote the micro-scale business. Still, 36.4% farmer were poor as a national standard of poverty score card so there was need to implement the livelihood program to improve the socio-economic status of farmers.
KEYWORDS: Economic impact, Microfinance service, Rural farmers