Gender Equality and Microfinance

Abstract

Microfinance is a type of Banking Service that is Provides to unemployed or Low Income Individuals or group who would otherwise have no other means of gaining financial service. Microfinance as the modern tool to combat Poverty for Rural development. Microfinance and self help group are effective in Reducing Poverty. Empowering women and creating awareness which finally result is sustainable development of the nation. The main Aim of Microfinance is to empower women. In 1990 the problems of women workers in unorganized sector’s fro bad to worse as most of the women who were engaged in various self employment activities have last their livelihood, Despite in Substantial contribution of women’s to both household and national Economy, their work is considered Just an Extension of household domain and remains non-monetized. In India’s Microfinance Scene is dominated by SHG as an Effective Mechanism for providing financial service to the unreached poor and also in strengthening their collective self help capacities leading to their empowerment. Rapid progress in SHG formation has now turned into an empowerment movement among women Across the country. Microfinance is necessary to overcome exploitation, create confidence for Economic Self Reliance of the Rural Poor Particularly among Rules women. Although no magic bullet. They are potentially a very significant contribution to gender equality and women’s empowerment. Through their contribution to women ability to earn an Income. These programs have potential to Initiate a series of virtuous spirals. Economic empowerment and social political empowerment.”