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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.

KEYWORDS:

Human Capital, Women Empowerment, Microfinance-led strategic action plan, United Nations Sustainable Development Goals

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