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A study of micro finance service in women empowerment

A study of micro finance service in women empowerment

Abstract

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Gender discrimination is a persistent problem faced by women all over the world, which has led to the need to empower women for uplifting their status as recognized by millennium development goals. The present study focuses on the role of microfinance in empowering women and also acknowledges it’s significance in alleviating poverty. The researcher used qualitative approach and case study method for in depth analysis of the phenomenon in context of akhuwat, an interest free microfinance organization. It was recognized that microfinance brings about changes in women’s lives: household condition, family wellbeing and social status.

Keywords

microfinance, women Empowerment, poverty, interest free loan, micro credit, millennium development goals.

Introduction

Importance of microfinance institution in economy microfinance is the provision of a board range of financial services such as deposits, loans, payment service, money transfer, and insurance to poor and low-income household and their microenterprise. Micro finance services help the women’s in the rural for there development by providing them with small finance for starting up with their business. Microfinance’s provides loans and micro credit’s. It has helped in improving financial status socio-economic up gradation etc.

Objectives:

 To study and determine the factors influencing women empowerment.

 To analyse women’s perception on empowerment at the individual as well as group level.

 To create awareness with respect to laws, policies and programmes.

 Helping the poor women with small finances

 The government is concerned with any intervention efforts to improve the lives of its citizens.

Limitation

 The variation in the nature and importance of empowerment across context poses a challenge in terms of both consistency and comparability

 Dishonesty in answering some questions in brief that research may trace the questionnaire to interviewee

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 Lack of availability use of data across time, the subjective inherent in assessing processes, and the shifts in relevance of indicators over time

 Failure of understanding question impact of empowerment includes, behaviour and attributes that signify empowerment in one context often have different meaning elsewhere.

Hypothesis

H1 if there is a positive relation between child development and women empowerment then the individual status of the women will be increased because it helps in building self- confidence of women’s.

H2 if women get financial freedom then there will be significant impact on women empowerment.

H3 if the position of the women in the society is improved then the status will also have

Significant impact in the family and this happens because of microfinance services which help in development.

Literature Review

The impact of microfinance on empowerment of women, explained the problem faced by women while trying to access finance from microfinance institution, problems faced by women while conducting businesses and gave empirical studies of microfinance effects on women empowerment. Microfinance is all about finance services provided in name of small loans to the poor to start or expand their small business that may improve their living standard by improving earning capacity as well as empower women by enabling them to make economic decisions and alleviate poverty. Since the idea for present study originated through certain assumption, it was necessary to look in to the contemporary research finding in order to identify the gaps in existing literature. Micro-financing is available to poor entrepreneurs and to the low income households who have no collateral and lack access to standard bank loan.

Research methodology

There are various method but there are two method of research process to get the perfect research. They are qualitative and quantitative research method. These two method are tool for research process. But, research method should be selected as per the plan and objective of research for this research: both primary data and secondary source have been used. Primary data has been collected via social media survey. Similarly, secondary data have been collected from few books, articles, journals and thesis, research literatures as well as sources from internet. Internet sources cannot be 100% reliable thus the author limited the use of this to the web page link World Bank

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Limitation

 The variation in the nature and importance of empowerment across context poses a challenge in terms of both consistency and comparability

 Dishonesty in answering some questions in brief that research may trace the questionnaire to interviewee

 Lack of availability use of data across time, the subjective inherent in assessing processes, and the shifts in relevance of indicators over time

 Failure of understanding question impact of empowerment includes, behaviour and attributes that signify empowerment in one context often have different meaning elsewhere.

Appendices

1. Age

(20-29)

(30-39)

(40-49)

(50-59)

(60-69)

2. Education

1.has never attended school

2.upto primary school

3.upto secondary school

4.upto tertiary institution

5.upto university

3. martial status

1. married

2. single

3. divorced

4. widow

4. What is your main Occupation

1. Farming

2. Business

3. Service

4. Others

5. How much do you earn per month

1. Below 10000

2. Between 10000 to 20000

3. Between 20000 to 40000

4. Above 40000

6. How frequently do you take loan from MFIS

1. Every year

2. 6 month

3. After 2 yrs

7. What is your loan amount

1. 10000 – 40000

2. 41000 – 80000

3. 81000 – 112000

8. For what use loan was intended

1. Business

2. Buying Assets

3. Raw Material

4. Land

9. What is the period of the loan

1. Less than one year

2. 1 – 2yrs

3. 3 – 4yrs

4. 5 or more

10. Do you have any problem in assessing loan

1. Yes

2. No

11. If yes what was the problem

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1. Repayment pressure

2. High interest rate

3. Others

12. Which are the other credit facilities you assess to

1. Government service (LEAP , YEP)

2. Commercial / Central bank

3. Saving and Loan / MIF’S

4. Money Lender

13. Would you recommend other needy womens to take

Microfinance service

1. Yes

2. No

15. Does it really empowers women using the microfinance

Service

1. Yes

2. No.

16. Has the loan increased your working capital

1. Yes

2. No

17. Do you received training in business skill with the loan facility

1. Yes

2. No

18. Has the loan helped you to expand your business

1. Yes

2. No

19. How are client supposed to repay loan

1. Daily basis

2. Weekly basis

3. Monthly basis

20. What is your income per day/week/month

1. Before loan

2. After loan

Conclusion

The micro finance helps the poor to improve their standard of living and fulfilled their credit needs. A focus on lending to women is common in microfinance initiative as women registers higher repayment rates. It is linked to women empowerment and economic development by creating self-confident. They are categorized as an important borrower due to the capability of using small loans into wise investment instead of spending money on luxurious goods. They also have right to access capital who before were restricted to any financial autonomy. Therefore ambition of policy should be to encourage a large formation of SHGs.

Suggestion

 Microfinance institution should try to extend more credit facilities to client to expand their businesses since the study result confirmed that microfinance had a positive impact in empowering rural women.

 Policy decision has to be taken regarding the financing of grouping consisting of defaulters.

Bibliography

Reference

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