Essay Example on Impact Of Micro Finance On Women Empowerment

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Impact Of Micro Finance On Women Empowerment A Comparative Study Of Urban Rural Areas Beneficiary With Reference To Durg District Of Chhattisgarh 2 INTRODUCTION Over the last few decades hundreds of scheme and laws have been introduced for the betterment of women to make them socially economically and psychologically strong There is no denying fact that women are the backbone of any family and society We cannot progress any nation if we ignore their capabilities To build a strong nation the society has to be conductive and encouraging their efforts Indian Government is continuously supporting their Endeavour and that is why they are continuously promoting women empowerment Due to which various micro-financing program and SHGs has been introduced to support poor women for the sustainability of their livelihood 

Microfinance is a concept initiated by Md Yunus in the late 1970s with Grameen bank model of Bangladesh In India Microfinance sector is growing rapidly where this concept acts as a tool for improving the standard of living among poor Despite these efforts a majority of poor population are still excluded from various financial services To fetch this gap microfinance institution came with the concept to offer a wide range of financial services for providing small loans money transfer insurance and many more other facilities Microfinance Institutions are working to improve the economic and social status of Indian women In India gender in equality is a major problem Women face various gender-specific barriers in various areas like employment education health etc Though women empowerment is one of the major areas in which micro finance deals 



They solely target and deal with women living below the poverty level for a number of reasons to upgrade their economic and social condition Also women s living in rural india does not able to access even the basic amenities and due to this they feel absolute isolation but with the formation of self help group and coming up of various microfinance institute and other government initiatives Women are now achieving social economic and physical mobility in society Thus it becomes very crucial to understand the impact of micro finance on women empowerment this study aims to identify the affect of these schemes on empowering women and tries to find the prevailing gap in present system Also this study aims to provide corrective measures to fill this gap In late 1990s the concept of SHG came wherein it is an informal association of 12 to 20 small economically homogeneous groups of women This encourages their small saving The savings are kept in bank to get loans from bank through which they decide which women should get loan and at what rate what will be the repayment period and through this money they can undertake various income generating activities 2 1 WORKING OF SHG IN INDIA


There are no uniform rules and regulation of SHG and they may vary from group to group in India Some of the ways common in most of the SHGs are 1 Membership and group formation 2 Meeting 3 Maintenance of book and register 4 Minute book 5 Training 6 Auditing 7 SHG Bank Linkage 8 Collective risk taking 2 1 a PURPOSE FOR FORMATION OF SHG 1 SHG form a root to cultivate saving habit among group members 2 It brings an opportunity to choose the income generating activity and helps women s to become socially economically and financially independent 3 Enhances employment opportunity for women which may increase national output 4 To encourage economic participation by women which brings social change and it also leads to better position in family 2 2 OBJECTIVES OF STUDY As of 2011 Chhattisgarh is a resource rich state among one of the fastest developing states in india 17 years of its formation as compared to other states in India ranked 23rd in terms of social development like literacy rates human development index and gender development index The sex ratio in Chhattisgarh is one of the most balanced in India with 991 females per 1000 males 



The literacy rate of women in Chhattisgarh as per 2011 census is 60 5 whereas male literacy rate is 81 4 constituting a total literacy rate of 71 Most of the rural population are still facing lack of social development in state Poverty level in state is at extreme level in few districts like bastar and dantewada To alleviate this poverty government have taken various initiatives one among this is introducing micro finance program Keeping this in view below are the objectives of this study 1 To determine the awareness level among urban and rural beneficiary about microfinance program scheme 2 To identify the various challenges faced by micro finance institutions in implementing their program scheme 3 To identify the prevailing gap in system and to provide suggestions to Micro finance institutions NGOs Government organizations to overcome this gap 4 To determine the major factors which lead to slow growth rate of MFIs and to measure the credit outstanding of MFIs SHGs 5 To analyze the various self perceptual factors which lead to empowerment among urban and rural women beneficiaries through MFI SHGs 6 To identify the various socio economic and psychological indicators to measure and compare the condition of urban and rural women beneficiaries through MFI SHGs 3 RELATED LITERATURE REVIEW Various researchers across the globe had focused their interest in analyzing better financial systems related to faster and better credit facilities to the unprivileged and weaker sections of society especially among women Microfinance is one such concept



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