SOCIAL SECURITY THROUGH MICRO-INSURANCE IN INDIA

Abstract

Micro-insurance phenomenon is one of the most remarkable socio-economic developments of recent times. For a long time, the poor, because of their economic circumstances, were considered noninsurable and non-bankable. However, the "micro-insurance" and "micro-credit" phenomena have shown that the poor can be made insurable and creditworthy if they are organized in small groups. This clearly has deep connotations not just from a finance perspective but, more importantly, from the perspective of poverty mitigation