Title: Livelihood transformation through microfinance: an empirical investigation on tribal entrepreneurs in India

Authors: Srimoyee Datta; Tarak Nath Sahu

Addresses: Department of Management Science, Bengal Institute of Science & Technology, Purulia, 723102, West Bengal, India ' Department of Commerce, Vidyasagar University, Midnapore, 721102, West Bengal, India

Abstract: Microcredit, the most famous form of microfinance institution's services, acts as a booster throughout the nation to correct up issues of livelihood transformation, economic regeneration and empowerment. So, to overcome the inequality and advocate further restructuring policies, periodical evaluation of the organisational offerings towards the backward clusters becomes absolutely necessary. India lives in villages. So, backward districts with primitive ethnic groups can be an ideal target to assess the impact of microcredit towards betterment. Considering 425 respondents from five backward districts of India, it has been observed that microcredit has a positive influence towards transformation of livelihood status through different dimensions of empowerment. It reflects the realistic information about the journey of changes in the living of selective ethnic section of the society exploring different aspects of economic and mental well-being. This study contributes to the existing literature by focusing on the tribal communities of India and their well-being. Along with that the acceptance and positioning of MFIs in their society towards the conversation of livelihoods should be the focal point for better tomorrow.

Keywords: microfinance institutions; MFIs; empowerment; employability; financial inclusion; India.

DOI: 10.1504/IJBIR.2022.125671

International Journal of Business Innovation and Research, 2022 Vol.29 No.1, pp.127 - 140

Received: 01 Jul 2020
Accepted: 23 Aug 2020
Published online: 26 Sep 2022 *

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