BENEFITS, DECISION MAKING, WOMEN EMPOWERMENT AND PROBLEMS FACED BY SELF HELP GROUPS - A STUDY W.R.T. GADAG DISTRICT

सार

Indian economy is severely hampered by high frequency of poverty coupled with unemployment. To overcome this maladies microfinance is regarded as dire necessity which acts as drug curing the ailments. It has been viewed as a powerful tool capable of fighting against poverty through the services of micro finance initiatives like funds, protection, credit, insurance savings formation and empowering women. It has been accepted as successful model where the poor have no place in formal financial institutions (Swathi Sharma 2018). Innumerable studies like Kabeer (2005), Mayoux (2001), Otero, M. (1989), Pitt & Khandker (1996), Rehman (1988) found that microfinance is a good strategy to alleviate poverty, empower women and augmenting economic development.

The planners hitherto only concentrated on the development of rural poor. Like the rural poor the urban poor also wants upliftment from the clutches of money lenders, better education and health, employment and a decent life. Microfinance as a financial service can provide credit, deposit, insurance, savings and services. The urban population who are living ghetto and outskirts needs financial service as their income is hand-to-mouth, shaky, non-secure, and less access to traditional financial institutions.

Experts in the area of developmental economies are insisting the need of assessing inclusive economic growth (Dadhich, 2001, Sarangi, 2008). The significance for microfinance lies in the fact that formal financial institutions has not stood up by social responsibility of meeting the needs of urban poor due to the single factor that poor cannot provide collateral security. Women constitute 50% of population, but in no country they get their due rights (Pujari, 2012). The present study found that all characteristics of respondents are impacting micro finance. Impact measurement data provides change from husband and joint to wife indicating women empowerment. Further, the study also found benefits from microfinance which includes more income, more savings formation, increase in women empowerment, assisting in income generating activities (IGA) etc. Innumerable factors affect the women empowerment and ranking details shows improvement in savings creation, reduction in dependency in money lenders and more awareness of political system, voting and contest in elections.