Role of Micro Finance Institutions in Changing Socio-Economic Status of Women Entrepreneurs: Evidence from Sonitpur District in Assam

Abstract

Finance always plays a crucial role in the world of entrepreneurs. When, the entrepreneurs are especially the woman, who do not have collateral to offer for availing loan from formal financial institutions, then comes the major role played by the Micro Finance Institutions in providing finance. This paper has focused on the role of Micro Finance Institutions in changing the socio-economic status of the women entrepreneurs by providing finance to them. The sample size of 100 was taken for the purpose of the study, who belong to two different development blocks of Sonitpur district of Assam. The sampling unit were consisting of the women entrepreneurs, who were also the beneficiaries of Micro Finance Institutions. The collected data were analyzed with the help of SPSS for obtaining results. The results have shown that Micro Finance Institutions have played a positive role in changing the socio-economic status of women entrepreneurs. Moreover, the recent changes in the framework of Micro Finance Institutions have also been incorporated in this study, so that a better understanding can be obtained regarding the regulatory framework and new development in this sector.