Microfinance, Rural Women Entrepreneurs and Sustainable Development

Abstract

It is undeniable that the emergence of microfinance programme in India in the late 1990s led to a significant portion of rural poor women being able to link with banking services today. As SHG members, poor women now have access to bank deposits and loans. At present, more than 8 crore women are linked with microfinance institutions in India, and a total credit flow of Rs 17,342 crore has been generated within SHGs. Microfinance has a considerable role in encouraging women entrepreneurs to start small businesses in rural areas. In addition to farming and housework, rural poor women are now running small businesses. They work in a broad range of micro-enterprises, including baking, dairy farming, poultry farming, etc. Their contributions include an increase in family income, raising household savings, empowering women, reducing poverty, investing in children's health and education, housing, clean water, improved sanitation, creating new jobs, increasing GDP, and so on. In this way, women entrepreneurs have a great role in positive social change. Thus, the development of the country through rural poor women entrepreneurs is not just a temporary development, it is a sustainable development.