A conceptual perspective on the impact of micro finance on women empowerment

Abstract

Equitable growth is a very important factor for the development of any nation. Traditionally, women in India have been not so privileged with regard to access for credit and financial services. The formal financial sector predominantly lends to the male populace and sometimes the women end up with challenges for credit. Globally, ~65% of people under poverty are women. Hence, this makes it more pertinent to provide credit to women to ensure that there is equitable growth. Microfinance achieves to bridge this gap by providing women clients with affordable credit to enable them to grow. This conceptual study is to understand the impact of Microfinance on women empowerment internationally amongst developing nations and the impact of Microfinance on women empowerment in India. This study revolves around understanding of key research done globally on important variables such as income savings on the economic empowerment and social empowerment variables such as impact of family decision making & freedom to state a few.