ROLE OF MICRO FINANCE ON WOMEN'S EMPOWERMENT

Abstract

This study titled "ROLE OF MICRO FINANCE ON WOMEN’S EMPOWERMENT: A CASE STUDY OF NIRDHAN UTTHAN LAGHUBITTA BITTIYA SANSTHA LIMITED OF THECHO BRANCH " aims to examine current statuts of respondents and investigate socio-economic impacts of microfinance on women's empowerment. The study utilized a case study, field study, descriptive, and analytical research design, with primary and secondary data collected from various sources and processed using Microsoft Excel. A convenient and purposive sampling technique was deployed to collect the opinions of 210 sampled respondents who are involved in a microfinance program provided by NULBSL. The study successfully achieved its objectives, revealing the status of respondents and the fact that microfinance program had a positive impact on socio-economic characteristics of the respondents. The participants, with an average age of 37, were predominantly below 40 years old. Irrespective of their caste, religion, or ethnic background, the program aimed to enhance the economic and social status of these women. Encouragingly, there was a positive trend of female-headed households, despite the persisting influence of patriarchal norms. The program also made significant strides in promoting education, resulting in increased school enrollment for children. In terms of socio-economic impacts, the findings were remarkable. After joining the microfinance program, respondents reported a substantial rise in their annual average income. Notably, business activities emerged as more lucrative than traditional agriculture for income generation. While household expenses and education remained the primary priorities for income allocation, the program led to notable improvements in savings patterns. Respondents experienced enhanced participation in household decision-making and gained greater respect within their families. Access to water and sanitation witnessed significant improvements as well, with a decrease in the number of respondents lacking confirmed sources of water and access to toilets. Overall, the study demonstrated the remarkable impact of the microfinance program on income levels, employment opportunities, poverty alleviation, entrepreneurship, saving habits, and living standards for impoverished women. It challenged prevailing notions about development and banking for the poor, providing an alternative avenue for savings vi and effectively uplifting the economic conditions of rural women. While the education level of children did not exhibit significant changes, the study's findings underscored the program's overall success and the positive transformation it brought to the lives of the respondents. In conclusion, this research provides evidence that microfinance is an effective way to alleviate poverty and empower women in Nepal. However, specific interventions are needed to change gender relations at the household, community, and macro-levels to fully empower women. The findings of this study are significant and contribute to the growing body of literature on the impact of microfinance on women's empowerment. Key Word: Women’s Empowerment, Microfinance Program, Economic Condition, Nirdhan Utthan Laghubitta bittiya Sanstha Limited