Women Empowerment and Development through Microfinance

Microfinance is emerging as a powerful instrument for poverty alleviation in the new economy. In India, the emergence of liberalization and globalization in early 1990's aggravated the problem of women workers in unorganized sectors from bad to worse amongst of the women who were engaged in various self employment activities have lost their livelihood. Despite in tremendous contribution of women to the agriculture sector, their work is considered just an extension of household domain and remains non-monetised. The women empowerment has helped the women to enjoy a better status in this economy which contributes towards the general upliftment of the poor as whole. Economic empowerment results in women's ability to influence or make decision, increased self confidence, better status and role in household etc. Micro finance is necessary to overcome exploitation, create confidence for economic self reliance of the rural poor, particularly among rural women who are mostly invisible in the social structure.