Published Paper Details:

Government's microfinance initiatives, increases financial inclusion, business performance and socio-economic empowerment of entrepreneurs among small scale enterprises in average income regions and thereby provides boost to economy. This research studies the effectiveness of microfinance initiatives in empowering entrepreneurs in Amravati District, Maharashtra. Using a mixed-methods approach with survey data and strategic analysis, the findings indicate significant impacts on financial inclusion (R2 = 0.298), business performance (R2 = 0.040), and socio-economic empowerment (R2 = 0.223). On other hand high and variable interest rates, documentation delays, and poor skill development programs pose challenges that obstruct microfinance initiatives from reaching their full potential. The scope of study includes 120 women entrepreneurs who have undertaken loan under Pradhan Mantri Mudra Yogna. The study suggests enhanced outreach, simple loan processes, and effective training programs to optimize benefits for women entrepreneurs.