IMPACT OF MICROFINANCE BANK ON ECONOMIC DEVELOPMENT OF RURAL AREA POPULACE (A CASE STUDY OF LEGEND MICROFINANCE BANK INISA)

This study critically looked into the impact of Micro-finance Bank on Economic Development Of Rural Area Populace, using Legend Micro Finance Bank, Inisa Osun State as a case of study. The view was to ascertain the impact of Microfinance Bank on Economic Development with reference to the organization under study. The contents of this research work were presented in five chapters. The study put together related literature on the topic. Both Primary and Secondary data were extremely made use of. Tables, simple percentages and absolute numbers were the tools used in analyzing the data collected from the analysis. It was discovered that the firm under study has impacted so much on the Development of Rural Area Economic through proactive programs and strategies in developing and advancing the growth of Rural Areas. Based on these and other findings, recommendations were made which includes: The need to have a policy that will have its clear vision and mission. It will help to have a well focused professional management, diverse and professional board that will have the policy at heart. There is also the need to have an impartial; quick and simple approval and disbursement procedures that will support innovation and ensure the achievement of financial self-sufficiency. Economic environment should be made conducive, government should improve the present state of infrastructure.