Augmenting women empowerment: a systematic literature review on microfinance-led developmental interventions

Purpose This study aims to explore economic, social, psychological and political empowerment and dis-empowerment of women caused by microfiance interventions. Women tend to face the brunt of societal discrimination created by economic, social, psychological and political disempowerment. This led to the emergence of the microfinance model for the rural poor and specifically focused on women as an agency for social change. Design/methodology/approach This study is based on a systemic literature review to examine microfinance-led women empowerment to reduce the ambiguity in theoretical and empirical underpinning. Findings The study’s findings suggest that even though microfinance as a developmental model is not a runaway success, it did make some positive impact on the status of women. Originality/value This study shows that the microfinance program empowers women and reduces societal inequalities to some extent, but literature also suggests that microfinance as a model has failed to make the requisite socio-economic change, and in some cases, there is adverse impact.