As a founder of Aid India, Vikram (Vik) Uppal has engaged in microfinancing activities in India. Vikram Uppal has devoted his time and resources to raising capital that could be used to help underprivileged residents of India.
Microfinance is the provision of loans or other financial services to low-income communities. Many individuals with limited means do not have the financial flexibility to procure a loan through traditional banking means. Microfinancing provides borrowers with the opportunity to raise cash for their farms, homes, or other areas that require investment or development. These microfinance loans typically are issued with favorable loan terms to help individuals to improve their financial standing.
Although microfinancing lends money to people with limited financial means, it is seen as a wise investment by the financial sector because of the high likelihood that these loans will be repaid. Microfinance is seen as a way to infuse cash flow into underdeveloped areas and communities.
