An Analytical Study of Micro Finance as a Tool of Women Empowerment in India: Examining the Impact of Microfinance on Women Empowerment in India

Abstract

Banks were nationalized four decades ago with the hope and promise that their products and services would reach the poor and provide benefits to stable themselves. But that goal is not even close to being met today as expected previously. With 52,000 plus commercial bank branches, 14,522 plus branches of regional rural banks and 100,000 plus cooperative bank branches, the country is teeming with institutions that should be able to meet the credit needs of the people. Consider these numbers 75 plus million households in India depend on moneylenders to meet financial needs almost 90 percent of the people in rural India have no access to insurance and other related investment and security things. Economic activity from this small beginning have enormous self-importance in their reliability and honesty, they also repay the loans quickly by maintaining the dignity and keep away themselves from default by this way they can keep expanding their profit base until they do not need the loans any longer. With the help of Microfinance women in India got an opportunity to become change agent. This helps them to explore new horizons and new dreams in their area.