Microfinance Led Strategic Action Plan for Human Capital Formation to Achieve Sustainable Development Goals
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 12
Abstract
Creating inclusive financial systems provides a way out of the persistent poverty, limited economic prospects, and subpar health and education systems. Through improved access to effective and efficient financial services, people, especially the underprivileged and women, can become more economically and socially independent, enhancing their ability to participate more fully in the economy and contribute to its expansion. Because of inadequate infrastructure, restrictive regulatory and legal environments, a lack of understanding and awareness of financial services, and perceptions among others that lending to or insuring them is risky and commercially unviable, many poor people are unable to access finance (save, borrow, or insure), which limits their ability to escape poverty. In 1974, Dr. Yunus take initiative to empower Bangladeshi women by disbursing the microloans. Women started small-scale industries and generated income to repay the loan amount with interest. The study creates linkages between microfinance and human capital revealing that there is a positive relation between them. The human capital generated through microfinance not only empowers the beneficiaries but enhances their self-esteem, self-respect, self-confidence, trust, and attitudes. The primary data was collected by applying the Wilcoxon-signed Rank Test Method on the microfinance beneficiaries of Agra District. The research suggests a microfinance-led strategic action plan to enhance human capital formation for achieving the United Nations Sustainable Development Goals.
Authors and Affiliations
Prof. Rupali Satsangi, Dr. Namrata Anand
Keywords
Related Articles
- EP ID EP729666
- DOI 10.47191/jefms/v6-i12-32
- Views 15
- Downloads 0
Quality of Public Services in Local Governments in Indonesia : A Study of Capital Expenditures and Government Internal Control Systems
Regional autonomy is a policy the central government gives to local governments to regulate their regions. One of these authority policies is public service. Public services are a series of activities in the form of serv...
Accounting of Funds of Higher Education Institutions from the form of Payment-Contract in the Treasury System
The article examines the need for a treasury information system in public finance management in the digital economy and the importance of using software packages in the execution of the treasury budget. The analysis of o...
In The Case of False Financial Reporting/False Corporate Communications, Is it Appropriate to Identify Quantitative Thresholds that Trigger Criminal Sanctions, or is it Desirable not to Set Such Thresholds?
False corporate communications characterised by the circumstance that they are punished with criminal sanctions may be governed by dual legislation: on the one hand, it is possible to identify legislations that provide f...
The Impact of Digital Marketing on Customer Buying Decision, Empirical Study Based on Georgian Market
Purpose - The objective of the study is the concept of digital marketing, identification, and analysis of the factors that affect the Georgian customers – to buy online and not offline with traditional methods. A detail...
Role of Socio-Physical Infrastructure in Regional Economic Growth: A Case Study with Special Reference to Education and Healthcare Sector of Uttar Pradesh
Infrastructure facilities, both social and economic, such as healthcare, education, energy, transportation, water supply and communication system play a crucial role in accelerating economic growth of any region. Uttar P...