Role of microfinance in empowering women of minority religion

Since the ancient period, women are under the paws of inequality in our socio-economic environment. There was a few number of women in the elite society who were considered as the path finders of women development in that specific period but the other parts of women especially from the backward communities were completely neglected and underestimated in the society in comparison to their men-counterparts. All these invite gender inequality and as women are taken as the builders of socio-economic development of any society, human civilization seems to face tremendous trouble in its sustainable development. In this context, Minority women have been found to suffer more than the other groups. They have lowest literacy rate and lowest work participation rate as well as negligible participation in political activities. As weaker section of the society, women from Minority face insecurity. In India, the growth of minorities is found to be lower in comparison to other sections not only in rural but also in urban area. Hence, to equalize the social position of women in respect of men, Government, Non-Government Originations (NGO), Banks and other authoritative institutions have taken various steps like encouraging poor women clubbed under Self Help Groups (SHGs) wherefrom they can avail of the means of their sustainability. The assisting organisations can also provide training, basic education of daily life, skill, support to enhance health and hygiene related matter, financial strength for self-employment etc. The effect of SHGs ultimately brings Women Empowerment, the way to enrich women from all perspectives in socio-economic-culture views. It is the process which assists women to realize their identity, capacity, strength and power and its application in day-to-day life in various spheres like decision making, family planning, free them from irrelevant customs, tradition, practices and prejudices. In the same line, the empowerment is also associated with the entrepreneurial self-reliance through participation in policy making and planning process which can be enjoyed by SHGs.

This paper presents a review of available literature relevant to the study based on the role of Microfinance for Women Empowerment particularly focused on Minority Religion.