IMPACT OF MICROFINANCE ON WOMEN EMPOWERMENT

ABSTRACT

The present article tries to draw the attention on how microfinance had impact on women’s empowerment through SHG’s (Self Help Groups) and the work of NGO’s such as SEWA. The government and NABARD have recognized this and have emphasized the SHG approach and working along with NGO’s in the initiatives. Micro finance in India is still in nascent stage to create a massive impact in poverty alleviation. Considering the entrepreneurial environment women’s activities are very interesting as they have great source of knowledge and innovation.

Women are experienced in balancing and handling difficulties. The banks also play very important role by providing loans to SHG’s at an amazingly low interest rate and Self help groups can access loans from banks. Banks play a major role in empowering poor women by providing them dignity, self esteem and economic independence. Banks are also benefitted as their loans get repaid in the process. The women grow enormously self confident as they get to handle money by themselves. Once women are involved with SHG there is no question of looking back. SHG provides some of basic facilities like providing finance stability, children’s health, education; they strive to solve problems themselves. The focus on poor women in micro finance has a very positive impact especially in empowering them in decision making within the family and providing control and ownership to women entrepreneur. 

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