Microcredit Initiative of Grameen (MIG) was incorporated 0n 12 October 2007 under Section 25 of the Companies Act, 1956 (Under Section 08 of Companies Act 2014).
The Main objective of MIG is to undertake activities of creating and increasing employment and income earning opportunities for poor as well as improving their professional, vocational and managerial skills by providing them required training and credit facilities/loan for the purpose.
Despite remarkable growth of GDP in India more than one third of population reels under poverty. The Government of India and state Governments as also the financial institutions have undertaken a number of programmes to alleviate poverty. However much needs to be done as still a large section of the population continues to be under poverty.
To supplement efforts of Government of India and the state Governments to attain the inclusive growth encouraged MIG to walk on the micro credit path. The first branch of MIG was launched on 26 June 2009 in Thiruvananthapuram District in Kerala state.
Microcredit Initiative of Grameen (MIG) was incorporated 0n 12 October 2007 under Section 25 of the Companies Act, 1956 (Under Section 08 of Companies Act 2014).
