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@article{187876,
        author = {Dr. Minal N. Jhala},
        title = {Microfinance and Women’s Empowerment: A Pathway to Financial Independence and Social Transformation},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {12},
        number = {6},
        pages = {6927-6934},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=187876},
        abstract = {Women’s empowerment has become a central concern in India’s development discourse, particularly in the context of financial inclusion and poverty reduction. Microfinance, introduced primarily through Self-Help Groups (SHGs) and microfinance institutions (MFIs), has been championed as a tool to improve women’s access to credit, enhance their decision-making power, and foster social transformation. This paper critically examines the role of microfinance in empowering Indian women, focusing on economic independence, household decision-making, and collective action through SHGs. Drawing on theories of empowerment, feminist economics, and the capability approach, the study reviews empirical evidence from across India, including notable programs such as NABARD’s SHG-Bank Linkage Programme, SEWA’s microfinance initiatives, and Kerala’s Kudumbashree movement. The analysis highlights both the achievements and the limitations of microfinance. On the one hand, access to credit has enabled women to initiate micro-enterprises, contribute to household expenditure, and participate in community leadership. On the other hand, concerns persist around over-indebtedness, male appropriation of loans, and the persistence of structural barriers such as caste, education, and property rights. The paper concludes that while microfinance is a promising pathway to financial independence, its transformative potential can only be realized when combined with broader institutional reforms, gender-sensitive policies, and skill-building interventions.},
        keywords = {Women’s empowerment; Microfinance; Self-Help Groups (SHGs); Financial inclusion; India; NABARD; Kudumbashree; SEWA; Poverty alleviation; Gender equality.},
        month = {November},
        }