Even after the 73 years of our Independence, India is still fighting with Poverty and unemployment. Probably these two problems have contributed in not achieving the strong and survived Economic system of the country. In spite of announcement of number of employment programmes and creating the various road maps for generating and motivating people towards the self originating employment, still India is not able to achieve the economic balancing situation. Perhaps the uncontrolled population is the biggest reason of the same. However due to this massive problem of unemployment and poverty, the other evils are also generating and making a disorder in whole economic and financial structure. These evils are Social Injustice, Disparity between wage structure and wealth Structure, Political misbalancing with regional economic imbalances, and poor fiscal position of the country. The poor employment Generation Mechanism of the country has helped in increasing the problem of the poverty more. In addition to number of other employment generator areas, microfinance has come out with a diversity of varied nature of employment generations. However Microfinance has not been clearly defined any there and there is a lot of difference in the definition of Micro Finance. For example if a Self Help Group grants a loan for an economic activity it is termed as micro finance however on the other hand, if a commercial bank gives the same kind of loan it would not termed as Micro Finance. However going beyond all this differences in opinion of Micro Finance is an activity done be any NGO. Hence loan given by NGO is termed as micro finance but if the Loan is given by any Market intermediary, then it is not treated as Micro Finance. The above study has been undertaken with the intention to come out with results of some objectives, such as the role of Micro Finance in Employment Generation, and how it cater the problem of adjusting the balance in poverty eradication. The study is undertaken by using various past studies, reports and research Papers, as well as using a preset Questionnaire to obtain opinion of different people from a sample of around 500 different class of persons.

KEYWORDS:  Microfinance, Poverty, Unemployment, Social Unbalancing, Poverty Eradication.