Role of Microfinance on Economic Empowerment of Women (A Sociological Study of Women Members of Royal Cooperative LTD. Dulegaunda)

Abstract

Role of Microfinance on Economic Empowerment of Women (A Sociological Study of Women Members of Royal Cooperative Limited Dulegaunda) is representative vision of the reality. Main thrust of the present study is to find out the monthly saving of women respondents and to analyze the impact of micro finance to improve in economic status of the member women. To conduct present study analytical and descriptive approach has adopted. Analytical approach has utilized mainly to analyze the relationship between income, investment and other variables. Descriptive approach has used mainly for conceptualization of the research objectives and research problem of the study. This study was based on primary data. These primary data was both qualitative as well as quantitative. Secondary data was used in this study was collected from different sources such as: Various research studies, dissertation and article related to the study, Annual reports from municipality. All the co-operatives working with in Shuklagandaki Municipality, Tanahun was supposed to be a universe. Women affiliated / gained membership of Royal Cooperative has the main sources of study. The study could cover the Shuklagandaki Municipality-2 and related women who was directly and indirectly involved in co- operative program. The area of this study was selected by using purposive sampling. There are 404 women shareholders who have more than 500 rupees. Out of the 404 women shareholders, 101 women was taken as sample by using simple random sampling method. Under simple random sampling method required sample was selected using Lottery Method which provide free from biasness Questionnaire is the main tools of data collection. Microfinance of Royal Cooperative, Dulegaunda is a women participating microfinance institution so it is organizing different fund rising programs such as saving, loan disbursement etc. within participating women. In the Microfinance program saving and its mobilization and skill enhancement are the main instruments to raise the economic growth and human resource development. Saving is the basis of investment and loan disbursement. Microfinance is actively involved in saving programs of women. Women are also interested and motivated to save more with Microfinance programs. With saving they are encouraged to mobilize that save in terms of loan. This will help to solve the financial problem of women in society to some extent. Loan disbursement and on time payment is an essential part of the program. Microfinance can slowly meet the required criterion of loan repayment with increasing trend in recovery and still the amount of outstanding remained to the required criterion. Loan is disbursed in different sectors and Microfinance is still focusing more on loan disbursement to poor women. Interest recovery from loan investment is satisfactory and it is in increasing trend with certain fall. It shows that women believe in loan and interested to invest that loan in profitable sector. Majority of the women are involved in agriculture. The status of loan investment and income of women is found satisfactory and they are earning slowly higher with involvement of this program. Instead of this, business which is running by taking loan is found as running satisfactory. Poor women are found more and some of them have high confidentiality of standing themselves as a successful entrepreneur in future. Majority of women believe that involvement in Microfinance program initiates to increase their living standard. Participants in Microfinance programs are from different ethnic groups. Some of women prefer low interest rate, long repayment time, and more loan amount to increase their living standard more. The overall study shows that the program has made positive impact on the women living standard by generating employment and increasing productivity. The most important and effective program is to the basis to uplift the economic condition of rural women. Most of the sampled women are under farmer's category and the major source of income of women is agriculture.