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The origin of microfinance is quite absorbing. Microfinance, combines the strengths of both formal and informal systems of purveying, credit. Availability of hassle free credit in a systematic manner is the, unique feature of microfinance system. Microfinance in informal system, was in vogue in India in the form of chit funds, etc., since time, immemorial. It came into existence under formal system with the advent of, cooperative movement in India in the beginning of the last century. The, microfinance

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