An empirical study on therole of micro finance in the empowerment of rural women through self- Help groups

Women's development has been a subject of great concern all over the world. The nation march towards the twenty first century upholds an era for reconstruction to entrance the quality of life of Indians. These efforts are pulsed through various measures namely Educational, Social, Political and Economic. The position of women in a society is an index of its degree of civilization. Emancipation of women is one of the generators of economic development and social progress. In India about ¾ th of the population still live in rural areas. In the rural sector 56 percent of males and 33 percent of the females are in labor force. About 66 percent of the female population in the rural sector is idle and un-utilized. The condition of women is bad since they suffer from gender discrimination, old social values and customs. Micro finance is recognized as a key strategy for addressing issue of poverty alleviation and women's empowerment. Access to financial services and the subsequent transfer of financial resources to poor women enable them to become economic agents of change. Women become economically self-reliant, contribute directly to the well being of their families, play a more active role in decision making, and are able to confront systematic gender inequalities.

Micro Finance has become a powerful tool for uplifting the economic condition ofasset less poor through group approach that ensures active participation and involvementof the beneficiaries in effective implementation of the Programme. Microfinance can playpivotal role in uplifting 30% of population in the Country living below poverty line. Nationalization of Commercial Banks, Formation of RRB's initiated SocialBanking but could not make much progress in this regard. People in Rural area face anumber of problems undertaking economic activities infact their freedom is restricted bysocial norms. In order to alleviate poverty emphasis has to be given on employmentgeneration and creating assets through micro enterprise activities. Micro Finance is a provision of thrift, credit, other financial services and productof very small amount to the poor in rural, semi-urban, urban areas for enabling them toraise their income levels and improve living standards. The major concern today is ever increasing poverty and there is urgent need toempower and enable the most neglected sections of the society through organized supportof all poverty alleviation programs. Considering the paucity of funds with the poor, theneed of the hour is to provide credit to the needy and enable them to undertake entrepreneurial activities however small, with the help of NGO's GO's and financial institutions through interest free and credit on easy terms. In views of this scenario the paper discusses the various issuesregarding Micro finance and its impact on Socio-economic life of the poor coveredunder the SHG-Bank linkage Programme in India.