MICROFINANCE, FINANCIAL INCLUSION & WOMEN EMPOWERMENT

Abstract

One strategy for promoting economic growth in the nation is microfinance, which is made possible by financial inclusion across all societal segments. To give a considerable proportion of society's vulnerable groups a financial safety net for survival as well as social empowerment, financial inclusion entails the extension of banking or financial services at an accessible cost. The majority of women in India, where they make up 48.53 percent of the population overall (according to the 2011 census), are denied opportunities and rights because of their financial dependence. This study examines how microfinance and financial inclusion can empower women by examining past research material, survey results, and creating a hypothetical model. One of the most significant hurdles to inclusion is a lack of trust in a formal bank or financial institution channel as a result of a lack of information. Microfinance offerings empower women by allowing them to earn cash via a variety of entrepreneurial activities.