Main Article Content
Abstract
In India, Micro finance is of an ancient origin. Traditionally, Money lenders, zamindaars (landlords), traders, etc have provided micro credit to poor borrowers in rural areas at exorbitant rates of interest. But this kind of finance is not regulated by government and it was informal in nature consequently this informal sectors exploits and making difficulties to poor for repayment. As a result, many of rural poor faced big suffering to meet out their day to day life due to huge as well as multiple interest rates and poorer became poorer. Therefore, to regulate the micro finance activities as well as easy access to poor households’ particularly rural areas, the Government of India has launched linkaged Micro Finance scheme in the year 1980s through formal financial sector to improve the rural poor economic empowerment. Thus the microfinance institutions are providing micro finance service to rural and urban poor particularly they provide financial support through Self Help Groups. Women’s economic empowerment is the process of achieving women’s equal access to and control over economic resources. Therefore, the Economic Empowerment is very essential to every woman because the employability of women can only lead to their economic empowerment. The primary aim of the study is to know the perception of Rural Women about their Economic Empowerment through Micro Finance institution. The survey was adopted. For the study nature qualitative as well as quantitative data was collected from primary and secondary sources. There are 65 village panchayat in Tharangambadi taluk from that only 13 village panchayats has selected randomly. Total of 26 Self Help Groups and 130 members used as the sample of the study. The analysis results shows that, majority of the respondents agreed that the micro credit institutions has improved the employment opportunities, standard of living, knowledge about banking operation, social status, confidence to face economic problems, participation in community activities, use their income according to their choice and creates economic awareness. However, majority of the responded opined that the micro finance does not improve the employability skills, value of productive assets and amount consumption.