Topic: Role of women and women’s organization.
1. Microfinance for women Self Help Groups (SHGs) plays an important role in empowerment of women and improving standards of living. Elucidate. (250 words)
Difficulty level: Moderate
Reference: Live Mint
Why the question:
The article discusses the distinction between microfinance and self-help group financing. It highlights that microfinance is a financial service offered by institutions to low-income individuals, while self-help group financing involves collective savings and credit activities within communities.
Key Demand of the question:
To write about the role of microfinance in inclusive growth and development of women SHGs and women empowerment.
Directive word:
Elucidate – Give a detailed account as to how and why it occurred, or what is the context. You must be defining key terms wherever appropriate and substantiate with relevant associated facts.
Structure of the answer:
Introduction:
Start by defining micro-finance and give context with respect to growth of micro-finance in India.
Body:
First, with examples, write about the role of micro finance in poverty reduction, empowerment of women, assisting vulnerable groups, and improving standards of living – financial inclusion, credit provision, financial services in unbanked areas, growth of NBFC’s, financial sustainability of the MSME sector and promoting women entrepreneurship etc.
Conclusion:
Conclude by summarising the scope of Micro finance in inclusive growth.
