Micro Financing Regulation and Women Empowerment


Women Empowerment
Legislative Laws

How to Cite

JEET, S. (2014). Micro Financing Regulation and Women Empowerment. Dev Sanskriti Interdisciplinary International Journal, 4, 18-31. https://doi.org/10.36018/dsiij.v4i0.41


India has achieved phenomenon economic growth in the past decade, but found lacking in the achievement of targets fixed under millennium development goals by 2015. These development goals have fully acknowledged the incredible role of women in the system, and prompted the policymakers to address the gender issues on every front be it economic, political and social. In this spirit, the empowerment of women has been well considered in the recent literature for making the present systems smoother. The recent initiative of Indian Government in the form of launching a “Women Bank” seems a remarkable step in the direction of women empowerment. However, it raises various questions related to the lending to women and women run businesses, supporting women self-help groups, financial inclusion, etc. There are various measures for women empowerment, but present study is an attempt to explore the existing credit facilities for women in particular through self-help groups. The study aims to highlight key legal provisions in this direction and tries to address the monitoring and regulatory aspect in particular, as the importance of financial regulations at macro level has been widely pronounced by the policymakers for stable financial system.



Barrientos, S. (2001). Gender, flexibility and global value chains. IDS Bulletin, 32(3), 83-93. https://doi.org/10.1111/j.1759-5436.2001.mp32003009.x

Barro, R. J. (1996). Determinants of economic growth: A cross country empirical study. Cambridge, MA: NBER. National Bureau of Economic Research, Working Paper No. 5698. https://doi.org/10.3386/w5698

Bhagwati, J. (2012, April 6). Obama's blunder at the bank. The Economic Times, p. 12.

Bureau, E. T. (2012, March 8). Engendering India: Greater gender equality is the need. The Economic Times, p. 9

Chandel, H. (2011, July 8). 39% Indians think domestic violence is justified, says UN report. The Tribune, p.11

Costa, D. L. & Steckel, R. H. (1995). Long-run trends in health, welfare, and economic growth in United States. National Bureau of Economic Research. Cambridge, MA: NBER, Working paper No. 76. https://doi.org/10.3386/h0076

Deiter S. H. (2001). SHG banking: A financial technology for reaching marginal areas and the very poor. IFAD Rural Finance: University of Cologne, Working paper No. 167910

FAO (2011). The state of food and agriculture: women in agriculture, closing the gender gap for development. Rome: Food and Agriculture Organization of the United Nations.

Garikipati, S. (2011). Microcredit and women's empowerment: Through the lens of time use data from rural India. CEB : Working Paper No. 11/034

Gayatri, G. (2011, July 8). Haryana horror: Number of child brides shoots up 195 child marriages reported in state till June 2011 as against 47 in 2009. The Tribune, p.16

GOI. Five years strategic plan (2011-2016). Ministry of women and child development. New Delhi: Government of India. http://wcd.nic.in/MWCD_Strategic_Plan_10-02-2011.pdf

Goyal, M. (2011, June 29). Indian women most stressed in the world: Nielsen survey. The Economic Times, p. 01.

Hardy, D. C., Holden, P. & Prokopenko, V. (2002). Microfinance institutions and public policy. IMF: Working Paper No. WP/02/159. https://doi.org/10.5089/9781451857689.001

Hartarska, V. (2004). Governance and performance of microfinance institutions in central and eastern Europe and the newly independent States. William Davidson Institute: Working Paper Series, Paper No. 677, 2004. https://doi.org/10.2139/ssrn.542602

Hashemi, S. M., Schuler, S.R. & Riley, A. P. (1996). Rural credit programs and women's empowerment in Bangladesh. World Development, 24(4), 635-653. https://doi.org/10.1016/0305-750X(95)00159-A

Kline, K. & Sadhu, S. (2011). Microfinance in India: A new regulatory structure centre for microfinance. Chennai: IFMR research.

Kucera, D. & T. Xenogiani (2009). Women in informal employment: What do we know and what can we do? In J. Jutting & J. R. De Laiglesia (Ed.). Is informal normal? : Towards more and better jobs in developing countries. Paris: OECD. https://doi.org/10.1787/9789264059245-6-en

Kulkarni, V. S. (2011). Women's empowerment and microfinance: An Asian perspective study. Rome, Italy: International Fund for Agricultural Development (IFAD).

Lykke, E. A. & Nina, O. (2000). Micro-credit and group lending: The collateral effect (University of Aarhus, Department of Economics, Working Paper No. 1998-18, 1998). In T. V. Bastelaer (Ed). Imperfect information, social capital and the poor's access to credit 13. Centre for Institutional Reform and the Informal Sector: Working Paper No. 234.

Malhotra, A., Schuler, S. R. & Boender, C. (2002). Measuring women"s empowerment as a variable in international development. Washington, DC: The World Bank.

Mayoux, L. (1997, February). The magic ingredient? Microfinance and women's empowerment. Washington: A briefing paper prepared for the Micro Credit Summit.

Mayoux, L. (1998). Women's empowerment and micro-finance programmes: Strategies for increasing impact. Development in Practice, 8(2), 235-241. https://doi.org/10.1080/09614529853873

MCS (2012). State of Microcredit Summit Campaign Report. Washington, DC: Microcredit Summit Campaign.

Mohanty, M. & Singh, A. K. (2001). Voluntarism and government policy, programme and assistance. New Delhi: Voluntary Action Network India (VANI)

NIPCCD (2010). Statistics on women in India. New Delhi: National Institute of Public Cooperation and Child Development.

OECD (2011). Aid in support of women's economic empowerment. Paris: Organization for Economic Cooperation and Development.

Pine, D. (2010). The microfinance sector in Bangladesh: Innovation or stagnation (BA Thesis in Banking and Finance). Zurich: University of Zurich, Swiss Banking Institute, Center for Microfinance.

Priyadarshee, A. & Ghalib, K. A. (2011, October). The Andhra Pradesh microfinance crisis in India: manifestation, causal analysis, and regulatory response. BWPI: Working Paper 157. https://doi.org/10.2139/ssrn.1983206

Puhazhendi, V. & Satyassi, K. J. S. (2000). Microfinance for rural people- an impact study. Mumbai: National Bank for Agriculture and Rural Development.

Puhazhendi, V. (2000). Evaluation study of self help groups in Tamil Nadu. Mumbai: National Bank for Agriculture and Rural Development.

Rahman, A (1999). Micro credit initiatives for equitable and sustainable development: Who pays? World Development, 2(1), 67- 82. https://doi.org/10.1016/S0305-750X(98)00105-3

Rogaly, B. (1996). Micro-finance evangelism, "destitute women", and the hard selling of a new anti-poverty formula. Development in Practice, 6(2), 100-112. https://doi.org/10.1080/0961452961000157654

Sane, R. & Thomas, S. (2011). A policy response to the Indian microfinance crisis (p.11). Mumbai: Indira Gandhi Institute of Development Research. https://doi.org/10.2139/ssrn.1842926

Section 5 Hindu Marriage Act, 1956

Seth, M. B. (2009). Regulation and supervision of microfinance institutions: A proposal for a balanced approach. Law and Business Review of America, 15 (2), 287.

Shylender, H. S. (2006). Microfinance institutions in Andhra Pradesh: crisis and diagnosis. Economic & Political Weekly, 41(20), 1959-1962.

Sriram, M. S. & Upadhyayula, R. (2004). Transformation of the microfinance sector in India, experiences, options, and finances. Journal of Microfinance, 6(2), 88- 104.

Srivastava, P. (2005). Microfinance in India: Odysseus or interloper. Economic & Political Weekly, 40(33), 3626-3627.

Sujatha, K. S. (2011). Economic empowerment of women and beyond SHG as an organizational possibility to find social development spaces. JM International Journal of Management Research, 1(5), 317-328.

UN (2005). Microfinance and the millennium development goals (Fact Sheet). New York: UN Department of Public Information.

UN (2009). The millennium development goals report. New York: UN Department of Public Information.

UNICEF. (2011, February). The state of the world's children: Adolescent an age of opportunity. New York: UNICEF.

Yunus, M. (January 3, 2012). International Conference on Technology Enhanced Education at Amrita Mutt. The Economic Times, p. 4

This work is licensed under a Creative Commons Attribution 4.0 International License.


Metrics Loading ...