Abstract: 21st century has started with a big bang of Technological revolution and economic uncertainties. There have been worldwide efforts across the nations to improve the social, economic and financial conditions of the poor and neglected sections of the society through a number of development programmes. India too is in the forefront in this direction. However, in India especially in rural areas reaching the poor and socio-economically backward people is still a difficult mission and encouraging them over a long period of time to improve their socio-economic conditions and capabilities is a hard task (Kumar Bharath R., 2011).
Under the formal financial system, finance is available for income generating activities at low rate of interest with easy and periodical repayment period but access is not easy in this system due to complex legal and operational procedures. (Rangappa K. B., 2011). So, in India, such people have found an alternative way out in the form of microfinance (Somanath, V. S., 2009), the purpose of which is to enable the poor and women to carry out their routine activities smoothly and there will not be times where there is no access to food, clothing, shelter or education. Dr. C. Rangarajan, ex-governor of RBI says that microfinance can aid employment and sustain households giving them opportunities to undertake Income Generating Activities (IGAs) and thus Indian women become the agents of change to explore new horizons and new dreams.
Today, in India, millions of uneducated and poor women are being brought to the mainstream of the economy by different NGOs by forming self-help groups (SHGs) through which they avail microfinance and use the same to undertake income generating activities (IGAs) or to run micro enterprises. Even for commercial banks, microfinance is a useful proposal and is a dependable measure to keep away the poverty. In the growth scenario, micro-finance is considered as a need-based programme to cater to the needs of the poor and for the empowerment of the neglected sections of the society such as women, underprivileged and the rural poor.
In the recent years micro-finance programmes have gained importance in the development activities and beyond. The access to microfinance and the prospect to start a micro-enterprise signifies the empowerment to the poor.
In this context, this research paper analyses the role of Canara Organisation for Development and Peace (CODP), a Christian NGO based in Dakshina Kannada District, in promoting Income Generating Activities among the members of Self-Help Groups promoted by it.
The study reveals that there has been a significant improvement in the performance of the Income Generating Activities by the members of the Self-Help Groups and most of the IGAs have proved to be profitable.
Keywords: Microfinance, Income Generating Activities, Self-Help Groups, women empowerment, micro-enterprises.
Title: Microfinance – A Small Loan Big Enough To Generate Income – A Study of Income Generating Activities Promoted By CODP through Self-Help Groups in Dakshina Kannada District, Karnataka State
Author: Mrs. Therese Pereira
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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