A Study on Socio Economic Impact of Microfinance on Women Self Help Group in Mahesana District

Abstract

Microfinance is an important financial tool for poor people. The main aim of microfinance and self-help group is to reduce poverty, women’s empowerment and improve the social and economic status of women. In India half of the population is measured as female. They are not able to take part in any social and economic activity. They are also not able to take a decision in the family and able to express their view in the family. They are highly dependent on their husbands. Self-help group through microfinance made an attempt to overcome this limitation. Microfinance and SHG are important tools for poor people to meet their urgent financial needs. This study evaluates the socio-economic impact of microfinance on women self-help group in the rural area of Mahesana district.
The study has been done by many authors in many countries like Bangladesh, Pakistan, India, Nepal, and many other countries to find the socio-economic impact of microfinance on women self-help group. There have been many studies those reveal the results that there is a positive impact of microfinance in the reduction of poverty, women empowerment, and improvement in the socio-economic condition of SHG members. India is divided geographically into two parts; one is urban India and second in rural India. It is observed that in rural India, women are highly dependent on their family especially husband as a need of era it reveals that women should be self-independent, empowered, and get relief from poverty and dependency. This study is a decent attempt in this era.