Abstract:Micro finance is afacility of providing small loans to poor people to do their own business.India is developing country and its major portion is under poverty line. Indiansociety is also discriminated on the grounds of caste and gender.
Women don’thave equality with men. Their participation in family is negligible. They arenot given a fair treatment.
Micro finance facility empowered women to havetheir own business entity and earn for their family. When women areself-dependent and move out from their houses to earn their bread and butter,they are taken seriously by other members of the family. The purpose of thisresearch paper is to focus on impact of micro finance on women participation infamily.
Keywords:Micro finance, womenparticipation, family etc.Introduction:Microfinanceis a concept that is helping the poor to avail of and create opportunities foreconomic growth. In India, microfinance has fuelled the efforts of ruraldevelopment, women empowerment and wealth generation by providing small scalesavings, credit, insurance and other financial services to poor and low incomehouseholds. Microfinance thus serves as a means to empower the poor andprovides a valuable tool to help the economic development process. Micro-Financeservices have diversified over time into areas such as micro savings, microinsurance and several non-financial services. Women,therefore is a powerful part of social and economic setup of the country.
Inthe ancient period, they were treated as builds of the society and they ran thefamily successfully. Now in India, Women’s contribution to the industrialsector is rapidly growing in multidimensional basis. Government encourages thewomen as independent and self-sustainable persons in the society. Womenempowerment through self-help group constitutes an emerging and fast growingtrend towards social and economic development of the nation. Self Help Groups(SHGs) are one of the innovative and much needed schemes to accelerate thewomen entrepreneurship, women’s self-employment and women empowerment. LiteratureReview:Alka Srivastava (2005) published a paper on data collected from a microsample of women members of SHGs (Self Help Groups) in four Indian States -Bihar, Chattisgarh, Madhya Pradesh and Uttar Pradesh, which shows that throughmicro-finance based entrepreneurship, these women have been able to contributeto household finances, which led to some (though limited) decision making rolefor them in the household.
While there is a need to study the issue in a longertime frame, overall, we see that the picture is not devoid of optimism. Thecase studies (qualitative data) too provide grounds for hope, for instance,with respect to the role of women SHGs in the rescue of bonded labourers,assertion of dalit rights, and in tackling issues of domestic violence andalcoholismBali Swain and Wallentin (2007) investigated through survey method of 805 women who were member of a SHG and hadaccess to credit, and a smaller (156) control group of women who did not haveaccess to SHG or credit. They found a significant empowerment improvement from2000 to 2003 for the SHG group as opposed to the control group. Furthermore therespondents’ responses to fictive abuse were asked in order to measure theirindependent status in the household, as well as political participation bothlocally and regionally.
NABARD (2011) in his report “Status of Microfinance2009-10.Mumbai: NABARD” 76 per cent of the women members were able to interactwith officials and 28 per cent of the members were able to save in banks; theresult were seen in decision making in household matter, sending children to school,changing undesirable habits of their spouse, participating in Gram Panchayatelection. Access to bank credit after joining SHG (98 per cent) as compared tomere two per cent before joining, increase in income by undertaking incomegenerating activities, etc.’Mohapatra (2012) in his research paper titled “Empowerment of WomenAt House-Hold Level Through Self-Help-Groups- A Study Of Khordha District ofThe State of Odisha” studied in Odisha observed that SHGs contributed tosocioeconomic empowerment of women at household level.Sarkar & Baishya (2012) in his research paper titled “Impact ofMicrofinance in Women Empowerment of Assam” studied in Assam and results suggest that women’s accessto credit has a role in improving the household decision making capacity,workforce participation rate and control over resources and even political andlegal awareness, thereby opening/opportunity for greater empowerment of womenof Assam.
Sahoo Ansuman (2013) in his studyon “Self Help Group and Woman Empowerment: A study on some selected SHGs”highlighted that with the inception of Self Help Groups the women are nowtaking part in various dynamic activities and are at par with men. Women, haveasserted a venerable place in the family and the society and also theirdecision making power has enormously enhanced through SHGs.Rationale:Thisresearch paper contributed to the micro-finance and to understand theempowerment of women. The research helps to study the level of participation ofwomen in their family affairs. The rationale of the study is to explore theeffect of micro finance and how it helps in increase in women participation infamily.Objectives:To study the impact of micro finance on womenparticipation in family.
Researchmethodology:The study wasexploratory in nature mainly based on primary data to explore womenparticipation in family of Madhya Pradesh. Survey method was used to collectthe primary data of this empirical study. The sample of the study constitutedwomen self-help groups who are doing business by using micro finance. Random and purposivesampling techniques were used to select the respondents. Self-designedQuestionnaire was used to collect primary data of the study. 250 self-helpgroups were studied. Resultsand Discussion: Table 1: Descriptive Statistics on Micro finance facility & women participation in family Mean Std.
Deviation N women participation 15.0160 2.97374 250 Micro finance 11.0280 2.
68777 250 Table 2: Correlations on Micro finance facility & women participation in family women participation Micro finance Pearson Correlation women participation 1.000 .529 Micro finance .529 1.000 Sig. (1-tailed) women participation . .
000 Micro finance .000 . N women participation 250 250 Micro finance 250 250 Above table shows thecorrelations and it is evident from this table that Pearson’s correlationcoefficient between Micro finance facility and women participation is 0.529which is significant since the significant value (p- value) 0.000 is less than0.05. Therefore, we may conclude that there is significant association between Microfinance facility and women participation. Furthermore, since the value ofcorrelation coefficient r suggests a moderate positive correlation, we can usea regression analysis to Model the relationship between the variables.
Table 3: Model Summaryb on Micro finance facility & women participation in family Model R R Square Adjusted R Square Std. Error of the Estimate Change Statistics R Square Change F Change df1 df2 Sig. F Change 1 .
529a .280 .277 2.52859 .280 96.388 1 248 .000 a.
Predictors: (Constant), Micro finance facility b. Dependent Variable: women participation Over all model summaryshows the value of multiple correlation coefficient R=0.529, it is the linear correlationcoefficient between observed and model predicted values of the dependentvariable, Its large value indicates a strong relationship. R2, the coefficientof determination is the squared value of the multiple correlation coefficient.Adjusted R2=0.280, R2 change is also 0.
277 and these values are significantwhich shows that overall strength of association is noteworthy. The coefficientof determination R2 is 0.280; therefore, 28% of the variation in womenparticipation is explained by Micro finance facility.
Table 4: ANOVAa on Micro finance facility & women participation in family Model Sum of Squares df Mean Square F Sig. 1 Regression 616.283 1 616.283 96.
388 .000b Residual 1585.653 248 6.394 Total 2201.
936 249 a. Dependent Variable: women participation b. Predictors: (Constant), Micro finance facility Table 5: Coefficients on Micro finance facility & women participation in family Model Unstandardized Coefficients Standardized Coefficients t Sig. 95.0% Confidence Interval for B B Std. Error Beta Lower Bound Upper Bound 1 (Constant) 8.561 .
677 12.652 .000 7.228 9.894 Micro finance facility .
585 .060 .529 9.
818 .000 .468 .703 a. Dependent Variable: women participation Figure 1: Histogram on Micro finance facility & womenparticipation in familyANOVA is used toexhibit model’s ability to explain any variation in the dependent variable.
ANOVA table exhibits that the hypothesis that all model coefficients are 0 isrejected at 1% as well as 5% level of significance which means that the modelcoefficients differ significantly from zero. In other words we can say thatthere exists enough evidence to conclude that slope of population regressionline is not zero and hence, Micro finance facility is useful as predictor of womenparticipation.From the table ofcoefficients, the regression equation can be obtained asWomen Participation =(Y) 8.
561+ .585 (X1)* Micro FinanceThe normal probabilityplot is obtained to test the assumption about the normality of residuals and itappears that the residuals are approximately normally distributed. Thus theassumptions for regression analysis appear to be met. The above finding onthe above hypothesis reveals that Micro finance facility has significantpositive association with women participation at .
000 so null hypotheses is notsupported.Conclusion:The above resultsconclude that micro finance has a positive impact on women participation infamily. The results show that null hypothesis is rejected because p-value is0.000 which is less than 0.
05. The correlation between micro finance and womenparticipation is 0.529 which is significant at 5% level of significance.
The graphalso represents normal distribution data. Therefore, the assumptions are alsomet. References:· Alka Srivastava(2005) Women’s Self Help Groups: Findings from a study in four Indian States156-164 Social Change : June 2005 : Vol.
35 No. 2· Chandramani.(2005). Self Help Groups for Empowerment of Rural Women. In R.K.
Samanta (Ed.)Empowering Rural Women: issues, Opportunities and Approaches, (pp131-150).Delhi: The Women Press· Dr. AnsumanSahoo (2013) Self Help Group & WomanEmpowerment: A study on some selected SHGs. In International Journal ofBusiness and Management Invention ISSN (Online): 2319 – 8028, ISSN (Print):2319 – 801X www.
ijbmi.org Volume 2 Issue 9? September. 2013? PP.54-61· Kumar Das, D.& Boruah, D.
Micro Finance Through Self Help Groups (SHGs): A Tool ForSocio-Economic Development of Rural Assam (A Case Study of Lakhimpur andDhemaji District). 2014.· Lokhande,M.A (2009), “Women Self-Help-group’s and Women Empowerment-A case study ofMahila Arthik vikasMahamandal”; Indian Journal of Marketing; Issue No; 8; PageNo; 52.· Mohapatra,Anuja(2012)Empowerment of Women At House-Hold Level Through Self-HelpGroups- A StudyOf Khordha District of The State of Odisha, India International Journal OfResearch In Commerce, Economics & Management. 2 (5),83-87· NABARD, “Statusof Micro Finance in India” during 2009-2010, Mumbai.
6. Gupta, E. A. P. Syed,R. and Shankar, S. L.
(2010), “Impact of microfinance: A critical analysis”Southern Economist, volume 48, No.18, January.· Narang(2012), ?? Self Help Group: An Effective Approach To Women Empowerment InIndia?, International Journal of Social Science & InterdisciplinaryResearch, Volume 1, Issue 8, pp8-16, www.
indianresearchjournals.com· O’Connell(1978),?From Service to Advocacy to Empowerment ,? Social casework Volume59,Issue 4 · R. Radharukkumani (2012) womenentrepreneurs -challenges and opportunities journal of HRD, times, monthly May2012 Chennai.· Rajendran.K.
&Raya. (2011)Does Microfinance Empower Rural Women? A study in VelloreDistrict,Tamil Nadu. Indian Journal of Finance,5(11),47-55. · Ram NareshThakur (2009). “Rural Women Empowerment in India in Empowerment of Rural Womenin India”, Kanishka Publishers, New Delhi.
· Rani,Usha.,D.P.J.Reddy.,& M.V.
S.Reddy. (2004). Women Development: Empowerment through Self HelpGroups in Andhra Pradesh. In Kiran Prasad (Ed.
) Communication and Empowermentof Women (vol.2 pp616-624). New Delhi: The Women Press· Ranjula BaliSwain and Fan Yang Wallentin (2014) Theimpact of microfinance on factors empowering women: Regional and DeliveryMechanisms in India’s SHG Programme. In Stanford Center for Internationaldevelopment Working Paper No.
492· Sarkar, Samir& Swati Baishya (2012)Impact of Microfinance in Women Empowerment of Assam,BARNOLIPI – An Interdisciplinary Journal. I(V),46-69.· Thileepan,T.& Soundararajan, K.
(2014) Entrepreneurial Empowerment of Self Help GroupThrough Micro Finance – A Review of Literature. Volume : 3. Issue : 8.2014, pp.89-97.