IMPACT OF MICROFINANCE ON WOMEN’S EMPOWERMENT

Abstract

Women's economic empowerment means the ability of women to participate in the markets equally with men. They play a valuable role in productive resources and control over their own time. They give their contribution equally to men in all spheres of life. Empowerment for women is very important for the growth of an economy. The objective of this study is to know about the impact of microfinance on women’s empowerment. For the collection of data, a convenience sampling technique is used. The survey was conducted in Panipat City, Haryana, India. A group of women from both rural and urban areas participated in the survey. The study highlights that MFI has a positive impact on various employment-generating activities for women which helps them for a better standard of living, self-confidence, and a better status in the community. Since this research was limited by survey scope (only one city) and small sample size, future researchers can address these limitations and further study the outcomes of microfinance on women’s empowerment.