American Research Journal of Business and Management

Microfinance refers to the practice of providing financial services to poor people to alleviate poverty, such as micro-credit, micro-savings or micro-insurance. Small loans are made to start their own business. Such loans are generating jobs and income. Starting with micro-credit, income from these businesses enables lenders to enjoy better accommodation, health care and education. They get hope for a better future when they earn additional income. International micro-loan repayment is higher than ninety five percent, allowing micro-finance institutions to turn over these funds to even more customers. Microfinance helps one to break the cycle of deprivation in a single generation itself by giving a hand up. It can be concluded from this study that the empowerment of women is greatly improved by microfinance. It is also noted that the Self-Help Groups can provide the expected benefits to rural women folk by providing training on soil conservation, social forestry, dairy production, fisheries, livestock, horticulture and other related activities.

Citation

Ali MS, Cook K. “Micro-Credit Programs for Empowering Women to Alleviate Poverty”. American Research Journal of Business and Management. 2020; 6(1): 1-5.