Impact of Microfinance on Women Empowerment

Microfinance has proved its importance in relation to poverty eradication, financial development, rural finance, banking and financial services in India. Though the India had philanthropic philosophy to help each other and grow together, microfinance helped the same in a more institutional and organised manner. Indiais a diverse country in every aspect of human life which applies to its poverty too. Each region of India has its own language of poverty. Microfinance also puts forward the movement of financial inclusion of women across the community. Microfinance has come forward as a ray of hope for the women who are supposed to be equally participating in financial inclusion. The impact of microfinance in the area of women empowerment in India is still neglected and less documented concept especially in the spectrum of research.The present article is an outcome of literature review which clearly indicates the impact of microfinance movement in the process of women empowerment. The article has utilized qualitative as well as quantitative aspect to explore the impact of microfinance in the process of women empowerment.