Abstract:

Previous studies on microfinance have succeeded in educating people on the effect micro financing has on India’s economic development, but significant efforts have not been made in educating people on the effects microfinance is having on India’s culture and the empowerment of women through SHGs. With this in mind, the study seeks to (1) examine the correlation between empowerment of women, microfinance, and SHGs, (2) analyze the economic and social benefits of microfinance and SHGs on the empowerment of women in India; and (3) research whether women who actively participate in SHGs find social empowerment and by joining together are able to bring change that would have been impossible to do as individuals. This research study is based on a literature review collected through websites, research papers, journals and books, as well as the results and review of an exploratory study conducted Hyderabad and Chennai, India. Key Words: Women, Females, Empowerment, Self-Help Groups, Micro-Finance, India.

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