Published Paper Details:

Microfinance has emerged as a vital tool for promoting financial inclusion and fostering women's empowerment, particularly in rural India. This study presents a five-year analysis (2021-2025) of microfinance initiatives, focusing on their impact on women's economic, social, and psychological empowerment through Self-Help Groups (SHGs) and women-led micro-enterprises. Using data from NABARD, DAY-NRLM, and government reports, the study tracks growth in women beneficiaries, SHG membership, and entrepreneurial ventures over the period. The findings indicate consistent economic empowerment, with increased income, savings, and asset ownership among women participants. Social and psychological empowerment has also improved, reflected in greater decision-making authority, mobility, self-confidence, and leadership roles. However, challenges such as over-indebtedness, limited market access, dependency on external agencies, and financial literacy gaps persist. The study highlights the critical role of Government schemes, Digital financial inclusion, and capacity-building programs in enhancing the sustainability and scalability of microfinance initiatives. Overall, the five-year analysis demonstrates that microfinance serves as a multi-dimensional enabler of women's empowerment, with long-term benefits dependent on supportive policies, training, and market linkages.