Effectiveness of Microfinance, Training and Education: Beyond Credit to Capacity Building at CWE, JKEDI

Int. Jr. of Contemp. Res. in Multi. PEER-REVIEWED JOURNAL Volume 4 Issue 6 [NovDec] Year 2025 345 © 2025 Shahla Ayoub, Dr. Veenus Tyagi. This is an open-access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CC BY NC ND).https://creativecommons.org/licenses/by/4.0/ Research Article Effectiveness of Microfinance, Training and Education: Beyond Credit to Capacity Building at CWE, JKEDI Shahla Ayoub 1*, Dr. Veenus Tyagi 2 1 PhD Research Scholar, Shri Venkateshwara University, Gajraula, Uttar Pradesh, India 2 Associate Professor, Institute of Applied Medicine and Research, Uttar Pradesh, India Corresponding Author: *Priti Deepak Patil DOI: https://doi.org/10.5281/zenodo.17895780 Abstract Manuscript Information Microfinance as a financial service has been a true catalyst in the direction of Women's empowerment and emancipation. But beyond the transformation of such a financial cover into a business enterprise, there is a requirement to involve the women entrepreneurs in various training courses. Such inclusion can help the women entrepreneurs to include other women with themselves and be a cause of social development. This paper involves itself in the purview of how JKEDI has been imparting training to new women entrepreneurs and hence helping them empower themselves. ▪ ISSN No: 2583-7397 ▪ Received: 10-10-2025 ▪ Accepted: 29-11-2025 ▪ Published: 11-12-2025 ▪ IJCRM:4(6); 2025: 345-348 ▪ ©2025, All Rights Reserved ▪ Plagiarism Checked: Yes ▪ Peer Review Process: Yes How to Cite this Article Shahla A, Tyagi V. Effectiveness of microfinance, training and education: Beyond credit to capacity building at CWE, JKEDI. Int J Contemp Res Multidiscip. 2025;4(6):345-348. Access this Article Online www.multiarticlesjournal.com KEYWORDS: Microfinance, Women Empowerment, Capacity Building, Entrepreneurship Development, Training and Education 1. INTRODUCTION Women are provided with crucial information regarding laws, enabling them to gain knowledge on accessing government resources and legal institutions. Awareness about social issues, strategic institutions, and constitutional rights and remedies is highly pertinent to women's ability to address discriminatory treatment within households and communities collectively. (Sanyal, 2009). In this context, microfinance serves as a mechanism to foster women's empowerment on a comprehensive scale—encompassing social, economic, psychological, and political dimensions. This approach challenges and eliminates their subordination, prompting policy changes in both state and market institutions. Beyond offering savings and credit services, microfinance contributes to holistic social and economic justice for marginalised sections of society, serving as a crucial platform for inclusive growth. Int. Jr. of Contemp. Res. in Multi. PEER-REVIEWED JOURNAL Volume 4 Issue 6 [NovDec] Year 2025 346 © 2025 Shahla Ayoub, Dr. Veenus Tyagi. This is an open-access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CC BY NC ND).https://creativecommons.org/licenses/by/4.0/ Consequently, women's empowerment is both a process and an outcome of microfinance initiatives aimed at alleviating poverty. Academician posits entrepreneurship as “a tool for job creation and poverty alleviation” through advanced technology and innovation. However, the difficulty of obtaining start-up and operational capital is highlighted by Ojah & MokoaleliMokoteli (2010). Meanwhile, Ojah & Mokoaleli-Mokoteli (2010) investigated policies to fill the microfinance resources gap that has hindered the growth of entrepreneurial activities. The “question of whether microfinance improves or worsens entrepreneurial development” was addressed by Olu (2009), who concluded that microfinance institutions contribute to fostering the entrepreneurship of a developing economy like Nigeria. Therefore, while microfinance is regarded as a reliable source of initial finance, it should be evaluated periodically to determine whether it is still abiding by its developmental goals. In the 64 years of Indian independence, the emphasis on the socialistic pattern and the role assigned to the public sector had limited the scope for the growth of private entrepreneurship. But the liberalisation policy of the government has thrown open a vast area of the economy for private entrepreneurship. Under such circumstances, special efforts to develop women entrepreneurship are more keenly felt. The JKEDI, through one of its zonal offices known as the Centre for Women Entrepreneurship situated at Press Lane, Lal Chowk, Srinagar, has been working in all possible ways to include budding women entrepreneurs under its various microfinance programs and schemes. The motivation of this research study is to verify the presence of CWE, JKEDI in the canvas of pioneering entrepreneurship development institutes of Jammu and Kashmir. 2. LITERATURE REVIEW According to Krishna (2003), empowerment is the process that gives people the ability to negotiate a more equitable distribution of the advantages of growth and protect their right to do so. More influence and control over the economy are the intended outcomes of empowerment, resources, improved intellectual and human capacity, financial and idea access, and authority over decisions made in the community, society, and at home. A strong feeling of self-worth backed by the conviction that one can effect change is another crucial component of women's empowerment on a personal level. The extent and application of entrepreneurship education in higher education are examined by Arthur et al. (2012), who also address the issue of how entrepreneurial education has given undergraduate students the practical entrepreneurship skills they will need once they graduate. They contend that insufficient finance and other factors shouldn't significantly limit the learning resources available for implementing entrepreneurial education. According to Simeen's (2000) research, the decision of a household to participate in a program is influenced by the degree of intra-household gender relationships, the opportunity cost of membership activities for individual family members, and the household's demand for microcredit. Such a family method has new and significant implications for how the program's effects on poverty reduction and women's empowerment are interpreted. Schumpeter (1982) believed that capital was nothing more than a tool to direct production in a different direction or to redirect the factors of production to new purposes, allowing the entrepreneur to exert control over the tangible commodities he requires. According to Helsen and Chmelar (2014), many microbusinesses do not ask for financing because they are selfconscious about their ability to obtain credit. Although many microbusinesses have promising futures and the capacity to pay back the loan, they do not meet the bank's requirements for administration, collateral, or other conditions. Malik (2019) examined the review on the function of microfinance in women's empowerment and poverty reduction. The study's major goal is to evaluate the influence of microfinance on the advancement of developing and underdeveloped countries. The majority of research found that microfinance had a favourable influence on poverty alleviation. As a result, it is safe to conclude that microfinance has a good impact on women's empowerment and raises people's living standards. Nachimuthu, Veni, and Mellese (2018) investigated women's empowerment through SHGs in Ethiopia, surveying 262 SHG women from Ethiopia's Amhara Region. The study focused on the issues and potential for rural women's empowerment in the area. Using a one-sample t-test and factor analysis, it was discovered that SHGs can assist women in becoming selfsufficient by encouraging small businesses and income generation. As a result, SHGs are an important tool for women's empowerment; nonetheless, SHGs face challenges such as improper competition and a lack of coordination among members. Osale, Makokha, and Namusonge (2018) investigated the impact of table banking (microfinance through the Joyful organisation) on women's development in Trans Nzoia County, Kenya. A total of 370 responses were examined. Using multiple regression, the study discovered that the loan's terms are favourable to members, such as adequate payment time and reasonable credit, and that the loan has aided women's financial development because some of the loans taken are used for business purposes. Addai (2017) looked into the impact of microfinance on women's empowerment in Ghana. Purposive sampling is used to collect data from 500 women from five regions of Ghana: Ashanti, Greater Accra, the central, eastern, and western regions, with 100 respondents from each region. The probit model is employed in the analysis, and the study concluded that there is a positive relationship between microfinance provision and women's empowerment. However, women believe that microfinance interest rates are too high and that more efforts should be made in this direction. Kabeta (2017) examined the significance of microfinance in empowering women in Ethiopia. The study discovered that Int. Jr. of Contemp. Res. in Multi. PEER-REVIEWED JOURNAL Volume 4 Issue 6 [NovDec] Year 2025 347 © 2025 Shahla Ayoub, Dr. Veenus Tyagi. This is an open-access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CC BY NC ND).https://creativecommons.org/licenses/by/4.0/ microfinance has a good impact on women's empowerment and contributes to the eradication of poverty in households by offering better and more affordable financial services. B. Kalpana and associates (2007) Slums are characterised by poverty, unemployment, and communal tension; with the aid of NGOs, women are utilising the shifting circumstances to bring these issues to their families. Happiness at home, selfemployment, and harmony within the community are the outcomes. Using data from Indonesia, Thailand, Myanmar, and the Philippines, Akter, Rutsaert, Luis, Htwe, San, Raharjo, and Pustika (2017) investigated the discrepancies in women's empowerment in agriculture. They conducted a qualitative investigation. They interviewed 290 female farmers in focus groups. They discovered that compared to men, women have greater influence over household income and equal access to productive resources. After reviewing the research, Huis, Hansen, Otten, and Lensink (2017) suggested a three-level model of women's empowerment: micro, meso, and macro. Time and culture were noted by the researchers as modifiers, which are vital when researching women's empowerment. Gautam & Kumar (2019) analysed the impact of microfinance on the empowerment of tribal women of Himachal Pradesh using factor analysis. A sample of 240 women has been considered for the study. It has been found that microfinance through SHGs has a positive impact on the empowerment (personal, social, political, and economic) and decision-making of women, and SHGs also helped in reducing poverty among the tribal population of Himachal Pradesh. Singla & Mahajan (2018) studied the concept of microfinance and its role in financial inclusion in India. The study concluded that microfinance is imperative in the financial inclusion of the poor in India. Valliammal (2018) studied the characteristics of the selected SHG members and their families. The data of 300 (150 each) beneficiaries are collected from the Thoothukudi and Thiruchendur districts of Tamil Nadu using multi-stage sampling. The study found that SHG membership improved the social and economic status of women, along with decisionmaking power. Zaei, Kapil, Pelekh, and Nasab (2018) used the survey approach to investigate Punjabi women's economic empowerment. A questionnaire was used to gather information from SHG women in a few of the state's urban and rural areas. Final analysis of 114 questionnaires revealed that microcredit via SHG is beneficial in raising the financial and social status of women in the sample region, as well as their level of confidence and living standards. 3. RESEARCH METHODOLOGY AND ANALYSIS The goal of the study was to measure the beneficiaries' opinions, attitudes, and experiences about the microfinance services offered by the Centre for Women Entrepreneurship (CWE) and the Jammu & Kashmir Entrepreneurship Development Institute (JKEDI). Utilising a cross-sectional survey approach, information was gathered from participants at one particular moment, offering a glimpse of the current circumstances and correlations across variables. Finding the impact of microfinance loan services, training and education services, entrepreneurial activities, and the degree of microfinance on the growth of entrepreneurship as a whole were the main goals of the study. 384 respondents, all of whom were recipients of microfinance, were given a standardised questionnaire containing Likert-scale questions. In order to compile the data and evaluate the suggested hypotheses, the research placed a strong emphasis on both descriptive and inferential statistics. 4. CONCLUSION The study's findings demonstrate that microfinance loans, training services, and comprehensive microfinance outreach significantly contribute to the advancement of entrepreneurship in District Srinagar. It is advised that JKEDI enhance its lending services by adjusting loan amounts based on business types and streamlining loan processing procedures. While the majority of respondents indicated contentment with interest rates, JKEDI may enhance assistance for emerging entrepreneurs by providing more adaptable and competitive interest frameworks, such as rebates for prompt repayment and concessional rates for first-time women entrepreneurs. Enhancing financial accessibility will incentivise more women to initiate and grow their businesses. Given that microfinance training and educational services have proven to be the most significant predictors of entrepreneurial success, JKEDI and CWE should enhance practical, skilloriented training modules encompassing financial literacy, digital marketing, bookkeeping, and sector-specific competencies. Training services should be more vigorously expanded to rural regions via mobile training units and community collaborations to guarantee equitable opportunities for women beyond urban centres. Furthermore, implementing organised post-training mentorship programs would assist entrepreneurs in efficiently utilising learnt skills and attaining long-term business sustainability. The scope of microfinance offered by CWE, while regarded favorably, indicates potential for enhancement. Augmenting the volume of loans granted, elevating the overall disbursement sum, and refining outreach initiatives, especially for women in marginalised rural regions, would amplify CWE’s influence. Group-based financing arrangements, including Self Help Groups and joint liability groups, ought to be promoted to improve participation and repayment dependability. To augment entrepreneurial endeavours, JKEDI and CWE should prioritise enhancing market accessibility via exhibits, local bazaars, and connections with internet platforms like Amazon Karigar and Flipkart Samarth. Equipping entrepreneurs with training in digital sales, branding, packaging, and product cataloguing will enhance revenue generation. Grants for business development or hybrid funding that amalgamates loans and subsidies may facilitate the scaling of promising enterprises. Int. Jr. of Contemp. Res. in Multi. PEER-REVIEWED JOURNAL Volume 4 Issue 6 [NovDec] Year 2025 348 © 2025 Shahla Ayoub, Dr. Veenus Tyagi. This is an open-access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CC BY NC ND).https://creativecommons.org/licenses/by/4.0/ Finally, the coordination among JKEDI, CWE, financial institutions, NGOs, and governmental bodies should be enhanced to facilitate credit access and support services. Establishing a specialised Women Entrepreneurship Fund at the university level would substantially augment financial assistance for creative and growth-driven women entrepreneurs. Awareness initiatives, financial literacy campaigns, and extensive informational outreach are crucial for promoting increased female participation in microfinance programs. These ideas seek to amalgamate financial assistance, talent enhancement, market connections, and institutional collaboration to improve the efficacy of microfinance projects and foster sustainable entrepreneurial development in District Srinagar. REFERENCES 1. Addai B. Women empowerment through microfinance: Empirical evidence from Ghana. J Finance Account. 2017;5(1):1-11. 2. Akter S, Rutsaert P, Luis J, Htwe NM, San SS, Raharjo B, et al. Women’s empowerment and gender equity in agriculture: A different perspective from Southeast Asia. Food Policy. 2017;69:270-9. 3. Arthur SJ, Hisrich RD, Cabrera A. The importance of education in the entrepreneurial process: a world view. J Small Bus Enterp Dev. 2012;19(3):500-14. 4. Gautam D, Kumar A. An evaluation of women's empowerment through microfinance: Factor analysis. 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This license permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. About the corresponding author Shahla Ayoub is a PhD Research Scholar at Shri Venkateshwara University, Gajraula, Uttar Pradesh, India. Her research focuses on microfinance, women’s empowerment, and entrepreneurial development. She is committed to exploring capacity-building frameworks that enhance financial inclusion and promote sustainable livelihood opportunities for women in emerging socio-economic contexts.