Assistant Professor,
Poverty has been degrading human lives since centuries. One of the greatest achievements of any economy is reduction of poverty. As we are aware, India's performance in the recent years has been among the best in the world. The prowess of India in IT, bio tech, pharmacy and various other manufacturing segments, in short India inc. is being recognized the world over. It is the money that rules the entire world. Empowerment is automatically achieved with financial stability. A number of different types of poverty alleviating strategies have been implemented by the government. One particular type micro credit, has been sweeping across in the south. Most microfinance institutions use some groups to distribute their services to their clients, referred to as Self Help Groups. SHGs are small thrift groups that make small interest bearing loans to its members mainly to encourage and inculcate savings discipline among the members. The results from these SHGs have been promising and have become an effective method of empowerment by alleviating poverty. This paper attempts to show how women in the rural areas are empowered in both quantitative and qualitative terms by joining and working in the SHGs. The status of women has generally improved as they have developed stronger confidence which has changed gender dynamics and their role in the household. In south India, significant improvements in fertility rates, female literacy, participation in development programmes and economic independence are evident.
