Journal Press India^®

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Microcredit (MC) financing is one of the most effective development strategies to reduce poverty and improve the living standards of self-help group (SHG) members. This study adds a new dimension to the empowerment theory by elucidating how women’s social, economic, and psychological benefits are influenced by their access to MC. Therefore, the current study’s objective is to ascertain how well MC contributes to increased employment and how it has raised the standard of living for SHG members. The study is based on primary data from 464 respondents. After data collection, the reliability test was adopted, followed by several statistical approaches, including ordered logistic regression (OLR), normality test, and the Wilcoxon signed test. The findings indicate that the loan amount has a significant influence on employability, and the loan has significantly raised the SHG members’ standard of living. The study suggests that to increase awareness and offer guidance, governments should improve the current regulations.

Keywords

Employment generation; Employability; Quality of life; Women empowerment; Entrepreneur; Microcredit (MC); Self Help Group (SHG)

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