Role of Microfinance in Women Empowerment

Microfinance with SHG is playing an important role in the family, social, economic, cultural, and educational development of women in rural areas. Therefore, there is an urgent need for self-help groups for the all-around development of women as well as women's empowerment. The main objective of microcredit is to enable women to get financial assistance without any collateral or proof of income. In the present study, the 310 respondents were selected in the Ahmednagar District, Maharashtra State. The sample size was selected by using a purposive sampling method. For the present study, primary data were collected with the help of pre-planned interviews and a well-structured questionnaire from the respondents. The main objectives of the present study are: To study the socio-economic status of women in Ahmednagar District and to assess the role of microfinance in women empowerment. After the study, we found there is a need for microfinance and self-help groups for women's empowerment because it is necessary to empower women and bring them into the stream of empowerment, as it is said that if women develop, the whole family will develop. Self-help groups and microfinance are playing an important role in women's empowerment.