Barriers to Microfinance Access for Women:Evidence from Karnataka

Abstract This study investigates the impact of microfinance on women in Bengaluru, with a particular focus on how access to financial services influences their economic independence, healthcare, education, and participation in household decision-making. Drawing on data collected from female beneficiaries across a range of microfinance institutions, the research provides a comprehensive analysis of both the opportunities and challenges associated with microfinance programs. The findings indicate that microfinance has played a significant role in promoting women's financial empowerment and autonomy. However, the study also identifies persistent barriers—including high interest rates, limited financial literacy, and entrenched social and cultural norms—that continue to hinder the full realization of these benefits. The study concludes by emphasizing the importance of more inclusive and context-sensitive strategies to enhance the effectiveness of microfinance as a tool for women's empowerment in India. Key words: Microfinance, Women Financial Empowerment, lack of financial Literacy