Economic Empowerment of Women through Micro-finance Institutions: A Study of Cooch Behar District of West Bengal

Women’s economic empowerment means to ensure women and they can equally participate in social protection, access market, control over resources and economic decision- making at all levels. It indicates towards Women’s right, gender equality, poverty eradication as well as inclusive economic growth but they also remain affected by discrimination, poverty and exploitation. It means women often suffer in insecure and low wage of jobs etc. Towards Equality, Report of the Committee on the Status of Women in India elucidated that “The long-term trend in economic participation of women indicates an overall decline both in percentage of workers to total female population and in their percentage to the total labor force after 1921”. The women need equal right and control over resources, time, income and their own lives. Micro finance institutions are sustainable tool of development for the economically backward people in the society and these institutions want to enhance the capability of women towards socio-economic progresses. This study covers four micro-finance institutions – ASA International India Microfinance Limited, Bandhan Financial Services Limited, Ujjivan Financial Services Limited as well as Village Financial Services and the study emphasizes how much these institutions are playing developmental role in the selected areas towards empowering women. To know conceptual and theoretical understanding of the concept of women’s economic empowerment, the present vision of the micro finance institutions towards economic empowerment of women, Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis of four micro finance institutions towards women empowerment in rural area of the Cooch Behar district of West Bengal and provides suggestive measures for economic empowerment of women. Further this study is meant for the purpose of understanding the nature and requirement of micro-finance institutions for sustainable development as well as women’s economic empowerment in rural level. The Sources have been used both primary and secondary data. For the empirical study, data has been collected through schedule interview from the selected study area and it has used as primary data, for the descriptive method, survey has been used through mail, mobile phone according to need and for the analytical method, data has been used through already available facts or information which have been used as secondary sources of data. The empirical findings of microfinance groups are seen its weaknesses as well as opportunities for becoming a tool of economic empowerment of women. This study is very significant for financial inclusion of vulnerable women in India.