Impact of Microfinance on Economic Empowerment of Rural Women in India: An Empirical Study
Keywords:Micro-finance, Women Empowerment, Economic empowerment, SHG (Self-Help-Groups), MFI (Micro Finance Institutions), NRLM (National Rural Livelihood Mission), India
The paper studies that how the micro financing delivered through Banks and MFI's have helped women to achieve economic empowerment in rural areas. In order to assess the impact of micro financing on rural women's economic empowerment, primary data was collected from 737 rural women through questionnaire personally administered by researcher. Descriptive research design has been followed. Multistage sampling, including random sampling and non-random sampling method, has been used. Out of four administrative divisions of Haryana, two divisions i.e. Gurgaon division and Rohtak division were sampled based on 50% proportionate random sampling. Out of 11 districts belonging to these two divisions, 6 districts were sampled using the criteria of 50% proportionate stratified sampling. Tabular, graphical and econometrical methods were followed to analyze the data.
Results show that micro financing has led to economic empowerment of rural women in India. Results of the Anova model, T-test showed that demographic factors like age, family income, had a positive and significant influence on economic empowerment of rural women availing micro financing.
Researcher has suggested that more emphasis should be given on development of entrepreneurial skills through training for income generating activities to the women along with provision of micro financing so that sustainable economic empowerment can be achieved for women in rural areas.
The paper recommends that the Government's micro financing scheme NRLM should be operational intensively in the districts where the reach of micro financing is limited.