Bottom of the Pyramid Inclusion in Processes of Financial Inclusion an SHG Mode Over View of Rural Women's Empowerment

Empowerment is the catchword of development pundits the world over. This is especially so in the context of uplifting the socio-economic levels of the women of marginalized sections of northern India. The work participation of women is generally a very ignored and invisible port of the country's economy even though in a real time analysis it may well form its backbone. Many of the initiatives taken up to ameliorate the lot of the women have failed because these women had no share in the fruits of their labour. They hardly ever had any money in their hands. They had no purchasing power and virtually no decision making power either. The financial inclusion initiatives like Self Help Groups (SHGs) and micro Finance Institution (MFIs) through apex agencies like NABARD were provided to include these persons at the bottom of the development pyramid and consequently had far reaching implications. The author examines the genesis of these financial inclusion overtures to ascertain the actual gains made at the ground level not only in terms of economic empowerment of these rural women but also the incremental gains attained in improving their overall social status. This paper is being presented as a part of a forthcoming comprehensive book on the subject of Self Help Groups in North India.