Dr. Amit K. Bhandari is presently an Assistant Professor in Economics at R. B. C. E College, Founder President of the Kalyani Institute of Applied Research, Training and Development (KIARTD) and a Research Fellow at IZA in Bonn. He received his PhD in Economics from the University of Kalyani in 2007. He began his career as an economist in the financial services industry. He is an active researcher, consultant and author in various development issues. Formerly a lecturer at the Indian Institute of Social Welfare and Business Management (IISWBM), he founded the independent non-profit research organization KIARTD. He has published a number of research papers in reputed journals and books. He has served as a project director for a number of government-funded research projects.

Dr. Ashok Kundu is Associate Professor in Economics at R. B. C. E College. He has a PhD in Economics from the University of Kalyani. Dr. Kundu has over 20 years of teaching and research experience in different academic institutions where he has taught subjects like macroeconomics, development economics and economic history. His main research interests are in the field of rural and agricultural development, rural finance, environmental economics and economic development. He has published a number of research papers and book articles. He served as a principal investigator in several research projects funded by national and international funding agencies.

Chapter 1: Structural Transformation of Rural Finance in India: A Critical Review.- Chapter 2: Risk Taking Behaviour in Financial Decision Making: A Village Level Study.- Chapter 3: Impacts of Caste, Risk, and Time Preference on Borrowing Behavior: A Case Study in West Bengal, India.- Chapter 4: Microfinance and Rural Entrepreneurship: An Assessment.- Chapter 5: SHGs for Poverty Alleviation? Perspectives from a Tamil Nadu Village under Rapid Economic Development.- Chapter 6: Achievements and Challenges of SHG-Bank Linkage Program in India: The Result of Village Surveys in Andhra Pradesh and Maharashtra.- Chapter 7: Synergistic Effects of microfinance through SHGs: A Study of basic Health and Primary Education indicators.- Chapter 8: For a Better World: Livelihood Security Measurement of the SHG Members.- Chapter 9: Public Spending and Rural Livelihood in India: A Study of MGNREGA.- Chapter 10: Factual Achievementof MGNREGA: Calls for an Optimal Planning using Fuzzy Logic.

Microfinance, risk taking behavior and rural livelihood are the three dominating issues in the rural financial landscape. Inadequate access to financial services is considered to be one of the main reasons behind inadequate economic opportunity and poverty in rural India. Microfinance has played a significant role in shaping the rural financial scenario. There is a need for micro-finance institutions to focus on a heterogeneous demand structure for the financial services provided to the rural poor. This book aims to provide an up-to-date and in-depth analysis of borrowing and risk taking behavior of rural people, which might help to design financial products and delivery of services in the rural market. It attempts to highlight and review the actual meaning, functions and challenges of microfinance through SHGs in the rapidly changing rural scenario and livelihood aspects of the group members. In addition, the present volume also investigates the effectiveness of government schemesto promote rural development. It is intended for those who are interested in understanding the grassroots reality of the Indian rural financial sector.