Democracy and economic empowerment of women: A microfinance perspective

In democratic setup, the equality in law and justice is of everyone's right, and that also presumes equal treatment to every individual. But the growing evidence of malpractices towards ‘women’ claims otherwise to admit so. The lacuna is with ‘dependency nature’ of women on male members and that again mainly for economic needs. As ‘economic factor’ is the key, in most of the progress, thus women of our society are yet to be empowered. So, they need to be economically empowered first, which will be generating other empowerment and the ‘microfinance’, is a best approach to cope with. So, an attempt has been made in this paper to highlight the role of microfinance towards economic empowerment of women in democratic setup of our country and this study has been made, based on secondary data. The study reveals that, microfinance plays pivotal role in reaching the client's needs as well as developing the levels of awareness among the women, recognising its positive impact and leading the ignorant clusters towards empowerment. But, yet we have miles to go and some care is needed to improve the credit limit, delivery mechanism etc. to strengthen the system and to meet the gap.