Micro-finance: Critical Views on Poverty Alleviation and Changing Gender Rela...iosrjce
IOSR Journal of Humanities and Social Science is a double blind peer reviewed International Journal edited by International Organization of Scientific Research (IOSR).The Journal provides a common forum where all aspects of humanities and social sciences are presented. IOSR-JHSS publishes original papers, review papers, conceptual framework, analytical and simulation models, case studies, empirical research, technical notes etc.
Micro-finance: Critical Views on Poverty Alleviation and Changing Gender Rela...iosrjce
IOSR Journal of Humanities and Social Science is a double blind peer reviewed International Journal edited by International Organization of Scientific Research (IOSR).The Journal provides a common forum where all aspects of humanities and social sciences are presented. IOSR-JHSS publishes original papers, review papers, conceptual framework, analytical and simulation models, case studies, empirical research, technical notes etc.
Dev nathan grovin kelkar women’s identity, social protection and entrepreneur...UNDP Policy Centre
This presentation is part of the programme of the International Seminar "Social Protection, Entrepreneurship and Labour Market Activation: Evidence for Better Policies", organized by the International Policy Centre for Inclusive Growth (IPC-IG/UNDP) together with Canada’s International Development Research Centre (IDRC) and the Colombian Think Tank Fedesarrollo held on September 10-11 at the Ipea Auditorium in Brasilia.
Role of micro credit in poverty alleviationguest8b8cd892
Executive Summary
The study tries to look at the impact of micro credit on the lives of the poor people. There are different views on micro credit as a powerful development tool regarding its success in developing the lives of the poor and some times these views are contradictory. However poverty is a global issue; it is a problem that even the wealthiest nation is facing. In this scenario country like Pakistan is facing a great challenge to alleviate or reduce poverty because poverty is becoming cause of many problems like suicides, illiteracy, unemployment, diseases like depression, stress etc. In order to control these diseases first we have to control poverty. At government level and also at international level many strategies are made every day to control poverty. But now Dr. Younis gave a formula of micro credit that successfully worked in Bangladesh and is now replicated all over the world and also in Pakistan so; the purpose of the study was to observe that what role micro credit plays in Pakistan in poverty alleviation.
The study was conducted in four urban slum areas of Rawal pindi and Islamabad that are Muslim Colony, Dhok Kala Khan, Tehmaspabad and Shakrial. Those people are targeted who have taken micro credit so that the comparison of living standard before and after use of micro credit can be made and hence it can be seen that, if there is any improvement in their living standard after using micro credit or not. The study was based on questionnaires which were distributed after translating it into Urdu so that respondents can easily understand it and fill it accordingly. Sample for this survey was 200 with 50 respondents per area. The dependent variable taken in this study is poverty reduction where as independent variable is micro credit and moderating variable is political environment.
Some of the factors that show poverty reduction are Training and education, clean water and hygienic environment, nutrition and adequate food, accommodation, income and savings.
Overall we can say that training and education, clean water and hygienic environment, nutrition and adequate food, accommodation, income and savings are important factors of poverty reduction. Because when a person has training and education he can improve his living standard, if a person has clean drinking water and adequate food he will be healthy and can earn in a better way for his family, if his accommodation is better and enough for family members and strong enough for natural disasters he can live in a better way. And obviously if his earning is good and enough for family he can also provide recreational activities to his children and can also afford uncertain expenses such as sudden guest etc and can also do savings for future, then all these things points towards a good life, a life with a good living standard and a life above poverty line. So; all above mentioned factors plays an important role in poverty reduction.
From data analysis it is concluded that the micro credit program is effective in giving un employed people employment such as taxi driver, shop keeper etc and to meet short term needs such as return debt taken from some one else, paying fee, operation, treatment of disease etc. Mostly borrowers of Muslim colony, Dhok Kala Khan, Shakrial and Tehmaspabad have used micro credit to purchase taxi, sewing machine and opening small shop and improving accommodation.
But micro credit system is not the perfect one; it is not a replacement for jobs that are not there and skills that do not exist. Important thing is to make them financially stable, to bring them out of the poverty line and to make them able to sustain their position and improve living condition instead of returning back to the poverty line. It can be done in this way that micro credit institutions can make contract with driving centers that can giving training to those people who don’t know driving on half rate, contracts with boutiques can be made, contracts wit
Microfinance is a general term to describe financial services to low-income individuals or to those who do not have access to typical banking services.
Microfinance has evolved as a financial and social innovation aimed at reducing global poverty through socio-economic empowerment of the poor. It has enjoyed a widespread patronage in the global economy in spite of the views held by its critics. Though many impact assessment studies have suggested that there are no convincing evidences to justify the massive interest andinvestments in microfinance, renownedinstitutions, politicians, philanthropist andgovernments have demonstrated commitment to advancing its cause. This paper examines how the global political economy has shaped the development of microfinance. Based on a descriptive analysis and review of related literature, its findings suggest that the major phases of transformation in microfinance have occurred in response to the interests of stakeholders in the global political economy
MODULE 1: Introduction to Microfinance and Target Groups
The Objectives for this Module are:
-To provide an introduction to basic principles and practices of microfinance
-To introduce participants to the various definitions of microfinance, the evolution of the industry, categories of microfinance and its target group
Dev nathan grovin kelkar women’s identity, social protection and entrepreneur...UNDP Policy Centre
This presentation is part of the programme of the International Seminar "Social Protection, Entrepreneurship and Labour Market Activation: Evidence for Better Policies", organized by the International Policy Centre for Inclusive Growth (IPC-IG/UNDP) together with Canada’s International Development Research Centre (IDRC) and the Colombian Think Tank Fedesarrollo held on September 10-11 at the Ipea Auditorium in Brasilia.
Role of micro credit in poverty alleviationguest8b8cd892
Executive Summary
The study tries to look at the impact of micro credit on the lives of the poor people. There are different views on micro credit as a powerful development tool regarding its success in developing the lives of the poor and some times these views are contradictory. However poverty is a global issue; it is a problem that even the wealthiest nation is facing. In this scenario country like Pakistan is facing a great challenge to alleviate or reduce poverty because poverty is becoming cause of many problems like suicides, illiteracy, unemployment, diseases like depression, stress etc. In order to control these diseases first we have to control poverty. At government level and also at international level many strategies are made every day to control poverty. But now Dr. Younis gave a formula of micro credit that successfully worked in Bangladesh and is now replicated all over the world and also in Pakistan so; the purpose of the study was to observe that what role micro credit plays in Pakistan in poverty alleviation.
The study was conducted in four urban slum areas of Rawal pindi and Islamabad that are Muslim Colony, Dhok Kala Khan, Tehmaspabad and Shakrial. Those people are targeted who have taken micro credit so that the comparison of living standard before and after use of micro credit can be made and hence it can be seen that, if there is any improvement in their living standard after using micro credit or not. The study was based on questionnaires which were distributed after translating it into Urdu so that respondents can easily understand it and fill it accordingly. Sample for this survey was 200 with 50 respondents per area. The dependent variable taken in this study is poverty reduction where as independent variable is micro credit and moderating variable is political environment.
Some of the factors that show poverty reduction are Training and education, clean water and hygienic environment, nutrition and adequate food, accommodation, income and savings.
Overall we can say that training and education, clean water and hygienic environment, nutrition and adequate food, accommodation, income and savings are important factors of poverty reduction. Because when a person has training and education he can improve his living standard, if a person has clean drinking water and adequate food he will be healthy and can earn in a better way for his family, if his accommodation is better and enough for family members and strong enough for natural disasters he can live in a better way. And obviously if his earning is good and enough for family he can also provide recreational activities to his children and can also afford uncertain expenses such as sudden guest etc and can also do savings for future, then all these things points towards a good life, a life with a good living standard and a life above poverty line. So; all above mentioned factors plays an important role in poverty reduction.
From data analysis it is concluded that the micro credit program is effective in giving un employed people employment such as taxi driver, shop keeper etc and to meet short term needs such as return debt taken from some one else, paying fee, operation, treatment of disease etc. Mostly borrowers of Muslim colony, Dhok Kala Khan, Shakrial and Tehmaspabad have used micro credit to purchase taxi, sewing machine and opening small shop and improving accommodation.
But micro credit system is not the perfect one; it is not a replacement for jobs that are not there and skills that do not exist. Important thing is to make them financially stable, to bring them out of the poverty line and to make them able to sustain their position and improve living condition instead of returning back to the poverty line. It can be done in this way that micro credit institutions can make contract with driving centers that can giving training to those people who don’t know driving on half rate, contracts with boutiques can be made, contracts wit
Microfinance is a general term to describe financial services to low-income individuals or to those who do not have access to typical banking services.
Microfinance has evolved as a financial and social innovation aimed at reducing global poverty through socio-economic empowerment of the poor. It has enjoyed a widespread patronage in the global economy in spite of the views held by its critics. Though many impact assessment studies have suggested that there are no convincing evidences to justify the massive interest andinvestments in microfinance, renownedinstitutions, politicians, philanthropist andgovernments have demonstrated commitment to advancing its cause. This paper examines how the global political economy has shaped the development of microfinance. Based on a descriptive analysis and review of related literature, its findings suggest that the major phases of transformation in microfinance have occurred in response to the interests of stakeholders in the global political economy
MODULE 1: Introduction to Microfinance and Target Groups
The Objectives for this Module are:
-To provide an introduction to basic principles and practices of microfinance
-To introduce participants to the various definitions of microfinance, the evolution of the industry, categories of microfinance and its target group
Saritsa Foundation adds a simple and workable solution to move ahead to empower women and girls to win over an important cause of their suffering and poverty - losses of lives and means of livelihood disasters. Saritsa Foundation takes Disasters Risk Reduction practices to the houses and families of these disadvantage women. Saritsa Foundation has recognized that this needs a ripple of change in our hearts and minds to empower women by taking care of their Right to Life Security in disasters. Consequently, it needs awareness, access to information, education and training to move them in a state of mind where they develop an action plan to minimize risks. In India, most of these women belong to weaker sections ,including Scheduled castes/Scheduled tribes/backward classes and Muslim and Christian minority who are mostly living in rural areas and urban pockets without any access to prepare to protect.
Saritsa Foundation endeavors to mainstream these women to provide equal opportunity to bring about a change in minds of women to be confident to protect themselves and their children and families to reduce risks.
The team of Saritsa Foundation reached to these groups of women in Sindhudurg district of Maharashtra state in Mangaon. The team led by its Director General conducted workshops from 14 to 15 March in association of Collector of the district, an NGO Nirmalgiri (A Christian MISSION to serve humanitarian causes ) 300 women and girls took part in these workshops enthusiastically to learn to protect in disasters and be Trainers and Motivators to their family members.
Objectives
1) To create an enabling environment amongst participants to build capacity by raising awareness, imparting education and training with use of local resources for innovations keeping in view the significant hazard proneness of their region.
2) To empower women Self Help Group leaders to understand their role and responsibility towards preparing themselves and be accountable at local level to minimize losses.
3) To provide equal opportunities to women and girls to develop in decision making, planning, and implementation of mitigation methods for disaster risk reduction and protecting means of livelihood.
4) To ensure setting up of warning system mechanisms with communication net work with conventional expertise and technologies to inter act with local government authorities, NGOs and outside agencies.
5) To guide participants to evolve action plans to integrate disaster risk reduction with plans of poverty eradication and development with usable tools with identification of specific needs to protect property, facilities, and economic activities.
6) To be awareness raisers, trainers and motivators to sustain the initiative and keep on developing it.
7) To be able to measure and quantify sustainability of their capacity building efforts time to time and evolving future preparedness plans.
The demonetization is a big push for digital cash management. Let us understand the different options of going digital with cash management before we go digital.
Microfinance for Women Empowerment through SHGs A Reviewijtsrd
In India, the emergence of liberalization and globalization in early 1990’s aggravated the problem of women workers in unorganized sectors from bad to worse as most of the women who were engaged in various self employment activities have lost their livelihood. Despite in substantial contribution of women to both household and national economy, their work is considered just an extension of household domain and remains non monetized. In India, Microfinance scene is dominated by Self Help Group SHGs as an effective mechanism for providing financial services to the “Unreached Poor”, and also in strengthening their collective self help capacities leading to their empowerment. Rapid progress in SHG formation has now turned into an empowerment movement among women across the country. Micro finance is necessary to overcome exploitation, create confidence for economic self reliance of the rural poor, particularly among rural women. Although no -‘magic bullet’, they are potentially a very significant contribution to gender equality and womens empowerment. Through their contribution to women’s ability to earn an income, these programmes have potential to initiate a series of -‘virtuous spirals’ of economic empowerment, and wider social and political empowerment. The results from these self help groups SHGs are promising and have become a focus of intense examination as it is proving to be an effective method of poverty reduction and economic empowerment. Mainly on the basis of secondary data analysis, this paper attempts to highlight the role of Microfinance and SHGs in the empowerment of women in India. Dr. Rajendra Prasad G R "Microfinance for Women Empowerment through SHGs - A Review" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52110.pdf Paper URL: https://www.ijtsrd.com/management/general-management/52110/microfinance-for-women-empowerment-through-shgs--a-review/dr-rajendra-prasad-g-r
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Identification of the effects of micro-credits on different aspects of the li...inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Women Empowerment through SHGs in India and Andhra Pradeshpaperpublications3
Abstract: The self-help group is functioning very effective dimension role at creating rural livelihood at sustain, the savings and bank linkages are eliminating poverty and creating the effective social functions by participating women at village level committees as a member at each and every village level committees. The self help group members are very active part of an economical status, through Banks they are getting the loan, and loan amount is utilizing for purposeful fields and at their children education, economic activity. And it creates self-reliance, self-esteem, self-production, joint responsibility, self-determination by mobilizing internal indigenous resources of the person the group. In this paper attempt to women empowerment through SHGs in India and Andhra Pradesh.
Micro Credit and Rural Women Entrepreneurship Development in Bangladesh: A Mu...Dr. Nazrul Islam
Micro credit programs have positive socioeconomic impact on rural women borrowers of Bangladesh. But it is also opined by the different corners that the micro credit programs do not help the borrowers to develop entrepreneurial capabilities except surviving. Thus, this paper aims at identifying the factors related to the development of entrepreneurship among the rural women through micro credit programs of the micro credit providers. A multivariate analysis technique such as, Factor Analysis was conducted to identify the factors related to entrepreneurship development. Structural Equation Modeling (SEM) was used to identify the relationship between micro credit program and the development of rural women entrepreneurship in Bangladesh. Results show that the financial management skills are the most important factor that has significant relationship with the development of rural women entrepreneurship. Results also show that the group identities of the women borrowers have significant relationship with the rural entrepreneurship development in Bangladesh. Borrowers experience from the parents’ families and the limitation of option also lead to the development of entrepreneurship among the rural women borrowers of Bangladesh.
Role of Self-Help Groups in Empowering Rural Women: A case study on selected ...iosrjce
Micro finance is emerging as a powerful tool for poverty alleviation in India. This approach has
recognition in India after the launch of SHGs and Bank linkage programme by NABARD in the year 1992.
According to United Nations, micro finance institutions are the basic provider of small savings, micro credit
and other basic financial services to poor and marginalised section like women. Despite substantial
contributions of women to both household and national economy, their contributions are not recognised in the
society. Rapid progress in SHGs and Bank linkage model has now turned into an empowerment movement
among women in the country. From various empirical studies, it is found that micro finance through SHGs and
Bank linkage model has enabled the members of SHGs to improve their socio-economic status. It also improves
family savings, decision making process, self confidence among women section of our society. Micro finance is
also necessary to overcome social exploitation and create confidence for self reliance among rural women and
poor section of our society. Apart from the informal financial institutions, the formal and semi formal sectors
also are taking much interest in providing micro finance to rural women in Assam. These financial institutions
not only provide small savings and micro credit to women but bringing them together in organised banking
sector. This paper highlights that micro finance through SHGs has a positive role in income, savings and
investment of women in Rani Block of Kamrup District of Assam
1. Contents
Introduction
Reaching Women
Why Women
Evaluating Impact
Beyond Credit
Looking Forward
2. Introduction to microfinance
“A world in which as many poor and near-poor households
as possible have permanent access to an appropriate range
of high quality financial services, including not just credit but
also savings, insurance, and fund transfers”.
Loans are granted for agriculture, dairy, livestock, poultry,
plantation, pickle-making, carpet-weaving, handicrafts,
handloom, house based craft, toy making and other formal
& informal occupation.
Forbes magazine named seven microfinance institutes of
India in the list of the world's top 50 microfinance institutions.
Bandhan, Microcredit Foundation of India (ranked 13th) and Saadhana Microfin Society (15th),
Grameen Koota (19th), Sharada's Women's Association for Weaker Section (23rd), SKS
Microfinance Private Ltd (44th) and Asmitha Microfin Ltd (29th).
6. Why Women?
Women make up a large and growing
segment of the informal-sector
Women tend to be more credit constrained
Commercial banks focus on men because
men form a larger portion of the formal sector.
7. Cont…..
Women are better customers
Higher repayment rates
Conservative in investment strategy – more risk averse
More vulnerable to peer pressure and threat of public
humiliation
Less access to credit which reduces risk of moral
hazard
Less mobile
Reduces monitoring costs – for bank as well as peer
monitoring
Enables women to attend repayment meetings (if
applicable)
Less argumentative
Lower staff costs. Institutions can hire more female staff.
8. Empowerment
It consists of change, choice and power. It is a
process of change by which individuals or
groups with little or no power gain the ability to
make choices that affect their lives.
Women’s empowerment argues that it needs
to occur in multiple dimensions: economic,
sociocultural, familial/interpersonal, legal,
political and psychological .
9.
10. Beyond credit for empowerment
Additional services like training, awareness raising
workshops are important.
Differences in pace of empowerment might be a result of
various factors: household and village characteristics,
cultural and religious norms within the society, behavioral
differences between the respondents and their family
members.
The acquisition of new skills and knowledge, improved
attitude, reinforced values, and a changed way of
thinking .
Micro finance can contribute to solving the problems of
inadequate housing and urban services as an integral
part of poverty alleviation programmes.
• Commitment Savings Product
11. Conclusion
A fair degree of empowerment has taken place
among Indian women.
Hindering factors are how much shall be the
interest on these credits and what shall be the
repayment time and loan waivers in case of
business losses and re-financing systems etc..
12.
13. Bibliography:
Adams, Dale W., Douglas H. Graham & J. D. Von Pischke (eds.). Undermining Rural Development with Cheap
Credit. Westview Press, Boulder & London, 1984.
de Aghion, Beatriz Armendáriz & Jonathan Morduch. The Economics of Microfinance, The MIT Press, Cambridge,
Massachusetts, 2005.
From Creative Credits for the Poor: India’s Microfinance Movement By fundsforngos, 2003.
Ranjula Bali Swain and Fan Yang Wallentin from Uppsala University. - “Empowering women through Microfinance”
December 2007 issue of UNDP’s Poverty in Focus.
Swain, R.B. and Wallentin, F.Y.: Does Microfinance Empower Women? Evidence from Self Help Groups in India.
Uppsala Universite, Dept. of Economics Working Paper 2007:24.
Susy Susy Cheston, (Senior Vice President, Policy and Research, Opportunity, and Executive Director Emeritus of
the Women’s Opportunity Fund) and Lisa Kuhn,( Program Analyst, Opportunity International Research sponsored
by the Women’s Opportunity Fund ) Research paper -“Empowering woman through microfinance “ its funding
partners: Elizabeth Foster and Michael Walsh, Gems of Hope USA, and the Morrow Charitable Trust Publication
sponsored by UNIFEM ).2004.
Tiyas Biswas - research article “Women Empowerment Through Micro Finance: A Boon for Development” National
Institute of Technology, Durgapur 2005
“State of the Microcredit Summit Campaign Report 2012”.