ECONOMIC EMPOWERMENT OF RURAL WOMEN THROUGH SELF-HELP GROUPS: A STUDY OF INCOME GENERATION AND FINANCIAL INCLUSION

Abstract

In recent times, India's main concern has been women's empowerment. When women are excluded, the development process becomes unfair and incomplete. Women make up 48.46 percent of India's population, but only 34 percent of the workforce, according to the 2011 Census. To advance, women require political, economic, and social empowerment. By providing them with access to financial services, microfinance today plays a crucial role in empowering marginalized communities. Microfinance has emerged as a crucial tool in the fight to improve rural economies and broaden access to banking services, both of which are government-sponsored initiatives. The capacity of SHGs and microfinance to (a) alleviate poverty, (b) strengthen women's economic independence, and (c) raise public awareness is the final outcome of a nation's sustainable development. The microfinance program's influence on self-help groups (SHGs) has benefited everyone involved, not just those who borrowed the money. They help self-help groups in their income-generating endeavors.   The Self-Help Group (SHG) movement has emerged as an effective means of achieving women's empowerment. This article examines the ways in which the SHG movement has assisted women in gaining access to agency and banking services. It examines the major obstacles that stand in the way of women's empowerment, education, and employment. Ultimately, the document seeks to address the issue of women being excluded and guide them towards empowerment.   We are of the firm belief that the development agenda will be strengthened by more efforts, innovations, and interventions in the field of SHGs.