A Study of Impact of Microfinance through Self Help Group on Women Empowerment

Abstract

Micro Finance is emerging as a powerful instrument for poverty alleviation in the new economy. In India, micro finance scene is dominated by Self Help Groups (SHGs) Bank Linkage Programme, aimed at providing a cost effective mechanism for providing financial services to the unreached poor. This research study highlighted the Performance and Current Status of SHGs in Solapur Distinct, analyze the present Financial, Socio-Political Psychological Changes of Self Help Group members in Solpaur District. The study was basically Descriptive and Qualitative type of research design, however some of the part of the study is also explorative. Explorative design is used for exploring the theory of women empowerment and concept of Self Help groupand Microfinance, Linkage banking structure in India and NGO s. Descriptive design was used to study in detail the demographics and socio-economic profile of Self Help Group members, functioning of SHGs, Improvement in members due to SHG , level of empowerment among the members, etc. Simple random sampling method was used for selection of SHG Members (Sample Size 375) and Selected Linkage banks, NGO s are those working as a felicitator of Selected Talukas of SHG s members from Sample Size. The study proves that SHGs plays powerful models for women empowerment of below poverty line of women groups as there is significant increase in Financial, Social Political and Psychologically status of women through microfinance in Solapur District. The study reveals that there is significant relationship between Microfinance and Women Empowerments through SHGs both the aspects have seen growth and positive change. Also, there is significant increase in Financial, Social Political and Psychologically status of SHG members through microfinance in Solapur District, were as Linkage Banks and NGOs played a crucial role for uplifting empowerment level of women in SHG of Solapur District.