Socioeconomic Impact of Microfinance on Borrowers: A Case Study of NRSP Bank Minchanabad
The present study investigates impact of Microfinance (NRSP Bank) on socioeconomic status of Borrowers living in Minchanabad District, Pakistan. For this purpose, primary data of 60 respondents is collected through Questionnaire using Stratified random sampling technique. The study concludes positive influence of Microfinance on income, health, education of children, living standards and businesses of borrowers. The problems faced by borrowers are high interest rate and difficult procedure to apply for a loan.