The Beneficial Influence of Micro Financing in boosting up the Women's Empowerment and Poverty Alleviation in India-- A Conceptual Study.

Abstract

Women's empowerment is a serious concern in developing nations. Since the empowerment of women is a fundamental factor in attaining the objectives of development and alleviating poverty, numerous initiatives have been undertaken to address this issue.. Microfinance institutions (MFIs) have emerged as key tools during the past few decades to combat poverty in general and women's empowerment in particular. As a result, a vast array of studies concentrate on the connections between MFI and women's empowerment. The research is scarce, though, when it comes to India's rural areas. In order to help MFIs and policymakers develop the connection between MFIs and women's entrepreneurship, the goal of this study is to analyse the role of MFI in women's empowerment in India. The empirical findings shed important light on the efforts made by RCDP to promote women's entrepreneurship as a means of empowering women and eradicating poverty. As a result, this article not only analyses the empowerment that women receive from microfinance, but also helps MFIs understand how important they are to the growth of the economy. The study is important for MFI practitioners as they create policies to encourage women's entrepreneurship and support their current female clients with effective training and supervision. This article outlines an NGO project that aims to provide microfinance to scheduled caste women employed in India's silk-reeling industry in order to empower them. It details the long-term effects of the project on their social and economic standing and emphasizes the drawbacks of excluding male relatives from any significant roles. It recommends modifications that may have been made to the initiative to make it more inclusive of males while still benefiting women. At the same time, it admits that the women's microbusinesses were unlikely to have been financially successful even if the men's opposition to the scheme had been overcome. This is because the project required the women to work together in a high-risk economic sector without a clear plan for how their work might be supported.