Abstract: setup of the country. In the

Abstract:

Micro finance is a
facility of providing small loans to poor people to do their own business.
India is developing country and its major portion is under poverty line. Indian
society is also discriminated on the grounds of caste and gender. Women don’t
have equality with men. Their participation in family is negligible. They are
not given a fair treatment. Micro finance facility empowered women to have
their own business entity and earn for their family. When women are
self-dependent and move out from their houses to earn their bread and butter,
they are taken seriously by other members of the family. The purpose of this
research paper is to focus on impact of micro finance on women participation in
family.

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Keywords:

Micro finance, women
participation, family etc.

Introduction:

Microfinance
is a concept that is helping the poor to avail of and create opportunities for
economic growth. In India, microfinance has fuelled the efforts of rural
development, women empowerment and wealth generation by providing small scale
savings, credit, insurance and other financial services to poor and low income
households. Microfinance thus serves as a means to empower the poor and
provides a valuable tool to help the economic development process.

Micro-Finance
services have diversified over time into areas such as micro savings, micro
insurance and several non-financial services.

Women,
therefore is a powerful part of social and economic setup of the country. In
the ancient period, they were treated as builds of the society and they ran the
family successfully. Now in India, Women’s contribution to the industrial
sector is rapidly growing in multidimensional basis. Government encourages the
women as independent and self-sustainable persons in the society.

Women
empowerment through self-help group constitutes an emerging and fast growing
trend towards social and economic development of the nation. Self Help Groups
(SHGs) are one of the innovative and much needed schemes to accelerate the
women entrepreneurship, women’s self-employment and women empowerment.

Literature
Review:

Alka Srivastava (2005) published a paper on data collected from a micro
sample of women members of SHGs (Self Help Groups) in four Indian States –
Bihar, Chattisgarh, Madhya Pradesh and Uttar Pradesh, which shows that through
micro-finance based entrepreneurship, these women have been able to contribute
to household finances, which led to some (though limited) decision making role
for them in the household. While there is a need to study the issue in a longer
time frame, overall, we see that the picture is not devoid of optimism. The
case studies (qualitative data) too provide grounds for hope, for instance,
with respect to the role of women SHGs in the rescue of bonded labourers,
assertion of dalit rights, and in tackling issues of domestic violence and
alcoholism

Bali Swain and Wallentin (2007) investigated 
through survey method of 805 women who were member of a SHG and had
access to credit, and a smaller (156) control group of women who did not have
access to SHG or credit. They found a significant empowerment improvement from
2000 to 2003 for the SHG group as opposed to the control group. Furthermore the
respondents’ responses to fictive abuse were asked in order to measure their
independent status in the household, as well as political participation both
locally and regionally.

NABARD (2011) in his report “Status of Microfinance
2009-10.Mumbai: NABARD” 76 per cent of the women members were able to interact
with officials and 28 per cent of the members were able to save in banks; the
result were seen in decision making in household matter, sending children to school,
changing undesirable habits of their spouse, participating in Gram Panchayat
election. Access to bank credit after joining SHG (98 per cent) as compared to
mere two per cent before joining, increase in income by undertaking income
generating activities, etc.’

Mohapatra (2012) in his research paper titled “Empowerment of Women
At House-Hold Level Through Self-Help-Groups- A Study Of Khordha District of
The State of Odisha” studied in Odisha observed that SHGs contributed to
socioeconomic empowerment of women at household level.

Sarkar & Baishya (2012) in his research paper titled “Impact of
Microfinance in Women Empowerment of Assam” studied in  Assam and results suggest that women’s access
to credit has a role in improving the household decision making capacity,
workforce participation rate and control over resources and even political and
legal awareness, thereby opening/opportunity for greater empowerment of women
of Assam.

Sahoo Ansuman (2013)  in his study
on “Self Help Group and Woman Empowerment: A study on some selected SHGs”
highlighted that with the inception of Self Help Groups the women are now
taking part in various dynamic activities and are at par with men. Women, have
asserted a venerable place in the family and the society and also their
decision making power has enormously enhanced through SHGs.

Rationale:

This
research paper contributed to the micro-finance and to understand the
empowerment of women. The research helps to study the level of participation of
women in their family affairs. The rationale of the study is to explore the
effect of micro finance and how it helps in increase in women participation in
family.

Objectives:

To study the impact of micro finance on women
participation in family.

Research
methodology:

The study was
exploratory in nature mainly based on primary data to explore women
participation in family of Madhya Pradesh. Survey method was used to collect
the primary data of this empirical study. The sample of the study constituted
women self-help groups who are doing business by using micro finance.

Random and purposive
sampling techniques were used to select the respondents. Self-designed
Questionnaire was used to collect primary data of the study. 250 self-help
groups were studied.

Results
and Discussion:

Table 1: Descriptive Statistics on Micro finance facility &
women participation in family

 

Mean

Std.
Deviation

N

women
participation

15.0160

2.97374

250

Micro finance

11.0280

2.68777

250

 

Table 2: Correlations on Micro
finance  facility & women
participation in family

 

women
participation

Micro finance

Pearson
Correlation

women
participation

1.000

.529

Micro finance

.529

1.000

Sig.
(1-tailed)

women
participation

.

.000

Micro finance

.000

.

N

women
participation

250

250

Micro finance

250

250

Above table shows the
correlations and it is evident from this table that Pearson’s correlation
coefficient between Micro finance facility and women participation is 0.529
which is significant since the significant value (p- value) 0.000 is less than
0.05. Therefore, we may conclude that there is significant association between Micro
finance facility and women participation. Furthermore, since the value of
correlation coefficient r suggests a moderate positive correlation, we can use
a regression analysis to Model the relationship between the variables.

Table 3: Model Summaryb on Micro finance facility &
women participation in family

Model

R

R
Square

Adjusted
R Square

Std.
Error of the Estimate

Change
Statistics

R
Square Change

F
Change

df1

df2

Sig.
F Change

1

.529a

.280

.277

2.52859

.280

96.388

1

248

.000

a.
Predictors: (Constant), Micro finance facility

b.
Dependent Variable: women participation

Over all model summary
shows the value of multiple correlation coefficient  R=0.529, it is the linear correlation
coefficient between observed and model predicted values of the dependent
variable, Its large value indicates a strong relationship. R2, the coefficient
of determination is the squared value of the multiple correlation coefficient.
Adjusted R2=0.280, R2 change is also 0.277 and these values are significant
which shows that overall strength of association is noteworthy. The coefficient
of determination R2 is 0.280; therefore, 28% of the variation in women
participation is explained by Micro finance facility.

Table 4: ANOVAa on Micro
finance facility &
women participation in family

 

Model

Sum
of Squares

df

Mean
Square

F

Sig.

 

1

Regression

616.283

1

616.283

96.388

.000b

 

Residual

1585.653

248

6.394

 

 

 

Total

2201.936

249

 

 

 

 

a.
Dependent Variable: women participation

 

b.
Predictors: (Constant), Micro finance facility

 

 
Table 5: Coefficients  on
Micro finance facility & women participation in family

 

Model

Unstandardized
Coefficients

Standardized
Coefficients

t

Sig.

95.0%
Confidence Interval for B

B

Std.
Error

Beta

Lower
Bound

Upper
Bound

1

(Constant)

8.561

.677

 

12.652

.000

7.228

9.894

Micro finance
facility

.585

.060

.529

9.818

.000

.468

.703

a.
Dependent Variable: women participation

 Figure 1:  Histogram on Micro finance facility & women
participation in family

ANOVA is used to
exhibit model’s ability to explain any variation in the dependent variable.
ANOVA table exhibits that the hypothesis that all model coefficients are 0 is
rejected at 1% as well as 5% level of significance which means that the model
coefficients differ significantly from zero. In other words we can say that
there exists enough evidence to conclude that slope of population regression
line is not zero and hence, Micro finance facility is useful as predictor of women
participation.

From the table of
coefficients, the regression equation can be obtained as

Women Participation =
(Y) 8.561+ .585 (X1)* Micro Finance

The normal probability
plot is obtained to test the assumption about the normality of residuals and it
appears that the residuals are approximately normally distributed. Thus the
assumptions for regression analysis appear to be met.

 

The above finding on
the above hypothesis reveals that Micro finance facility has significant
positive association with women participation at .000 so null hypotheses is not
supported.

Conclusion:

The above results
conclude that micro finance has a positive impact on women participation in
family. The results show that null hypothesis is rejected because p-value is
0.000 which is less than 0.05. The correlation between micro finance and women
participation is 0.529 which is significant at 5% level of significance. The graph
also represents normal distribution data. Therefore, the assumptions are also
met.

References:

·        
Alka Srivastava
(2005) Women’s Self Help Groups: Findings from a study in four Indian States
156-164 Social Change : June 2005 : Vol. 35 No. 2

·        
Chandramani.
(2005). Self Help Groups for Empowerment of Rural Women. In R.K. Samanta (Ed.)
Empowering Rural Women: issues, Opportunities and Approaches, (pp131-150).
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·        
Dr. Ansuman
Sahoo (2013)  Self Help Group & Woman
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·        
Kumar Das, D.
& Boruah, D. Micro Finance Through Self Help Groups (SHGs): A Tool For
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·        
Lokhande,
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·        
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·        
NABARD, “Status
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·        
Narang
(2012), ?? Self Help Group: An Effective Approach To Women Empowerment In
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