LBEF RESEARCH JOURNAL OF SCIENCE, TECHNOLOGY AND MANAGEMENT

Author(s):Prashant Shah Shankar, Suman Bhattacharya

Abstract:This paper explores the vital role of microfinance in providing financial assistance to low-income and marginalized individuals who lack access to traditional banking services. It traces the origins of microfinance to Muhammad Yunus and his pioneering work in Bangladesh. The study emphasizes the significance of women’s empowerment in achieving gender equality and addresses issues like inadequate knowledge and misuse of microfinance services, which can hinder poverty reduction efforts. Research questions aim to investigate the links between micro-credits, micro-savings, loan size, women’s empowerment, and poverty reduction. The study’s objectives include examining the role of Microfinance Institutions (MFIs) in reducing poverty and empowering women, proposing hypotheses suggesting positive relationships between these variables. The research offers valuable insights for MFIs, policymakers, and scholars but acknowledges limitations such as sample size, time constraints, and generalizability. It employs a deductive approach and a survey strategy, combining qualitative and quantitative techniques, with the goal of enhancing the understanding and utilization of MFI services for poverty alleviation and women’s empowerment in Nepal.

Keywords – Microfinance, Women’s Empowerment, Poverty, Living standard.