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This book underlines the significance of Need based Financial Products and more focused inclusive policy for the Urban Destitute and other marginal sections of the society “Beggars and Slum Dwellers” by banks and microfinance institutions in poverty alleviation. It undertakes a nuanced analysis of financial Instruments micro credit, micro saving, micro insurance, micro leasing and banking transfer system and non-financial services such as social intermediation, livelihood promotion and access to border market place. Given the diminished expectations on microcredit impact, the book highlights result from randomised control trial (RCT) based study from the city Lucknow, India. It argues that exclusive access to microcredit alone may not suffice in alleviating poverty on a mass scale and could pose a financial risk for poor house holds or households that over borrow. Poor people need finance to fulfil their basic needs, and the most desiring to get credit and financial products on suitable prices. There is a huge Mismatch between supply and Demand of Bank based financial products and schemes. This book is an investigation of two urban poor groups of Lucknow to understand Microfinance and its challenges in poverty alleviation in India.