Role of Microfinance in Human Development and Women Empowerment

Microfinance is the provision of financial services to low income people by group lending schemes and promoting self employment. To those who lacked access to banking and related services. The Human development concept sees ‘income’ as “means” of development rather than as the “end” and includes all aspects of life, including social, political and cultural development. Income is treated as a major indicator of economic empowerment. Micro finance plays a significant role in improving the status of Self Help Group and of the members and their families by improving their overall standard of living. Present study assesses the role that Micro Finance plays in Human development.