Analytical Study of Shift in Socio- Economic Status of Women Triggered by Microfinance Aid- A Behavioural Finance Perspective

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Dr. Anagha Bhope Bobde

Abstract

The objective of this paper is to assess the paradigm shift occurred in the Socio-Economic status of women due to the support of Microfinance facilities. Research methodology consisted of primary data comprising of 310 respondents who were surveyed using the Snowball sampling method. The conceptual framework of the research, primarily encompassed the role of rural women in decision making, physical mobility, economic situation, participation in political & other forums and enhancing self-confidence. Findings of the research clearly show the positive impact of microfinance on the lives of female respondents staying in rural areas of Vidarbha. It has brought about a transition both financially and socially in the lives of these respondents, enabling them improve their self- esteem and psychological wellbeing in a largely male dominated ecosystem. It has truly helped in driving across a strong message of what women empowerment can do not only to women as individuals but also as entrepreneurs who are changing the economic landscape in India.

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