Microfinance and Women Empowerment in Sehore, Madhya Pradesh, India
Akanksha Shrivastava *
Faculty of Agriculture Science and Technology, Madhyanchal Professional University, Bhopal, India.
Satwik Sahay Bisarya
Faculty of Agriculture Science and Technology, Madhyanchal Professional University, Bhopal, India.
*Author to whom correspondence should be addressed.
Abstract
Within the past years, women empowerment has drawn a considerable amount of attention that is given around the world especially in regions that are economically depressed. Madhya Pradesh is one of the poorest and least developed states of India and thus represents the conditions of women in this kind of socio-economic set up. Its poor positioning in the areas of public health, gender equality, and nutrition aggravates the need to improve the situation with regards to women empowerment. In this respect, microfinance has become one of the most important trends in empowering women to increase their access to financial opportunities, to examine self-confidence, to enhance the active involvement in decision making.
The micro finance programs are prepared to lend small amounts of money to women, particularly in the poor societies, to start self-employment activities. Such ventures do not only engage women in earning money but also give them an opportunity to support their families. In this regard, the concept of empowerment is complex. It is the capability of women to live in the society on equal grounds with men, earn access to power to guarantee them with dignity, economic independence, social recognition, ownership of properties and security. Microfinance is thus important in this process of making it revolutionary.
In Madhya Pradesh, women empowerment through joining the microfinance programs has been very significant. Such programs have improved the economic affairs of women making them gain more knowledge, they have improved their self-confidence, they have made them become more socially and politically aware. In addition, women have grown to be more organized, mobile all which have ensured that they contribute in household and community decision making. This transition has enabled women to break the usual gender roles and hence making a larger social change.
It is through the Non-Governmental Organizations (NGOs) that this transformation has been at the forefront. More than 120 NGOs in MP have taken the initiative of the formation of Self-Help Groups (SHGs) not only reaching hands offering financial assistance, but also nurturing the formation of social cohesion. Such SHGs are a facilitator of women empowerment in a collective manner and can group together, help one another and create social change in their locality. These endeavors have enabled the microfinance to prove in not only enhancing the financial status of women but also enable them to be empowered socially and politically.
Keywords: Microfinance, women empowerment, Self-Help Groups (SHGs), Madhya Pradesh, NGOs, Sehore