Women Empowerment Through Microfinance: Empirical Evidence from Bihar
DOI:
https://doi.org/10.31305/rrijm.2025.v10.n2.026Keywords:
Women Empowerment, Microcredit, poverty alleviationAbstract
Microcredit initiatives are presently advocated as a significant tool for women's empowerment and poverty alleviation in Bihar. Nonetheless, there remains contention on the efficacy of microfinance in empowering women in Bihar. This study aims to explore the effects of microfinance programs on entrepreneurship and women's empowerment in Bihar. Purposive sampling was employed to choose a sample of 500 female microfinance clients, with 100 participants from each city, including Patna, Ara, Chapra, and the central, eastern, and western regions of Bihar. This research employed SPSS and STATA statistical tools for data analysis, with model estimate identified as the utilized model. This study reveals a substantial correlation between microfinance and women's empowerment, both economically and socially; however, this link is contingent upon the women's marital status and educational attainment, indicating that age cannot be controlled. Nonetheless, the survey unequivocally shown that women encounter numerous obstacles in receiving financial services. The key factor is the suggested elevated interest rate. Enhancing access to women-centric microfinance may serve as the most effective instrument to foster business and empower women in Bihar.
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