IMPACT OF MICRO FINANCE ON EMPOWERMENT OF SELF HELP GROUPS (MAHALIR SUYAUDAVIKULU THITAM) IN TAMIL NADU DR. ELIZABETH RENJU KOSHY, Assistant Professor, Department of Professional Studies, Christ University, Bangalore. -------------------------------------------------------------- Abstract The United Nation declared 2005 as the “International year of Micro credit” by Kofi Annan‟s acknowledgement that micro finance would be “an integral part of our collective effort to meet the Millennium Development Goals” (Annan in Armendáriz and Morduch, 2010). This declaration might have got more attention to micro finance and burst into a global phenomenon. Micro finance considered as a powerful weapon in the fight against poverty, made a strong impact in academic, political and international development circles. In the last four decades, serious global efforts have been made to formalize financial service provision to the poor. It began around the early to mid-1980s and has since gathered an impressive momentum. Bangladesh has been drawing attention of the world for its successful micro-finance initiatives. Most famous microcredit initiative in Bangladesh is that of Grameen Bank. The exploitation of Mudra Bank schemes by SHGs and the transformation of MFIs to Small Bank formation are the means in the present day positive environment to fulfil the end - dream of total development or transformation of members of SHGs and ultimately for the economic development of the nation by overcoming the existing problems in infrastructural and product profile. The researcher is hopefully looking to coming golden days as the „fields‟ in front of the members of SHGs, MFIs to join hands to cultivate the „seed‟ - „each for all and all for each „for the fulfilment of the dream „economic independence „of India. -------------------------------------------------------------- Keywords: Empowerment, Micro Finance, Self Help Groups and Mahalir Suyaudavikulu Thitam -------------------------------------------------------------- 1.1. Introduction Micro-credit entails empowerment through the availability of fund to low income earners in a non-formal banking system to solve the problems associated with formal banking system. Microfinance is now understood as a financial activity. But, it actually emerged from development considerations. The need for access to capital was specifically articulated by women during the UN Conference on Women and Development in Mexico City in 1976. The focus then was on the micro-person, the person with a micro-status in society. The International journal of analytical and experimental modal analysis Volume XI, Issue X, October/ 2019 ISSN NO: 0886-9367 Page No:2603