From Microfinance to Impact Finance: A Study on the Role of Financial Inclusion in Sustainable Rural Development in India

Assistant Professor, School of Management, Sanjeev Agrawal Global Educational University, Bhopal · 2025 · Journal of international commercial law and technology

Summary. India's rural economy has been excluded from growth due to limited access to formal finance. While microfinance addressed this gap, it faced criticism for high interest rates and over-indebtedness. The paper argues that impact finance—combining digital financial infrastructure with measurable social and environmental outcomes—offers a superior path. India's PMJDY program and digital payment systems increased financial inclusion, but microfinance's empowerment effects remain uneven. The authors conclude that integrating microfinance, digital finance, and impact investing through financial inclusion will accelerate rural economic development.

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@article{bhopal-2025-microfinance-impact-finance-study-role,
  title   = {From Microfinance to Impact Finance: A Study on the Role of Financial Inclusion in Sustainable Rural Development in India},
  author  = {Assistant Professor, School of Management, Sanjeev Agrawal Global Educational University, Bhopal},
  journal = {Journal of international commercial law and technology},
  year    = {2025},
  doi     = {10.61336/jiclt/25-01-135},
  url     = {https://doi.org/10.61336/jiclt/25-01-135}
}

TY  - JOUR
TI  - From Microfinance to Impact Finance: A Study on the Role of Financial Inclusion in Sustainable Rural Development in India
AU  - Assistant Professor, School of Management, Sanjeev Agrawal Global Educational University, Bhopal
JO  - Journal of international commercial law and technology
PY  - 2025
DO  - 10.61336/jiclt/25-01-135
UR  - https://doi.org/10.61336/jiclt/25-01-135
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Details

DOI

10.61336/jiclt/25-01-135

Countries

India

Regions

Asia

Categories

funding, broadband-and-digital, policy, general-innovation

Added

2026-06-01