Published Paper Details:

Microfinance is often viewed as a catalyst for poverty reduction and inclusive growth, yet its true impact at the grassroots level remains contested. This study explores the socio-economic outcomes of microfinance participation in two active districts of West Bengal--North 24 Parganas and Hooghly. Focusing on 100 beneficiaries, primary data was collected through structured questionnaires and analyzed using SPSS, employing descriptive statistics, Chi-Square tests, and logistic regression. The study examines income generation and employment, women empowerment, savings and asset creation, access to basic amenities, and challenges faced by users. Findings indicate that long-term MFI involvement positively influences income levels, employment opportunities, financial independence among women, and access to essential services. However, issues such as limited financial literacy, uneven impact, and persistent debt remain challenges. The study recommends targeted interventions, enhanced borrower education, and inclusive strategies to optimize the developmental impact of microfinance institutions.