Understanding the various dynamics of microfinance – a review of empirical research

Micro finance is an effective strategy for the socio- economic development of the poor, especially women. The aim of micro finance is to develop the savings habit and financial vision amongst the poor. The focus of Microfinance is to facilitate the shift from ‘induced development from the top’ to ‘initiated development from the bottom’. Micro finance is a programme for the poor and by the poor to mobilize the savings and use them to meet their financial needs, research studies on Microfinance are gaining importance. This Study makes an attempt to focus on understanding how Microfinance helps women Empowerment, poverty alleviation, improvement in the Standard of living and various other factors of Women Empowerment.An attempt was made to evaluate the various research studies on Microfinance, joint liability groups and allied fields.