A Study on the Challenges faced by the Women in repayment of Micro Credit – Special reference to Merchant Bank, Batticaloa.

Abstract

A situation being unable to meet the minimum levels of income, food, health care, shelter and other essentials is known as absolute poverty (M.P.Todaro,S.C.Smith).  Over 40% of the world population lives on less than US $2 per day. According to the latest data, approximately 10% of the total population of Sri Lanka is living in poverty (Central Bank Report 2016). Extreme poverty shares in developing countries vary widely with regional figures ranging from 9% in East Asia and the pacific to 41% in Sub Saharan Africa. Poverty has serious impacts on the levels of living of the people.