




































Indian Journal of Finance and Banking 

 Vol. 5, No. 1; 2021 

                                       ISSN 2574-6081   E-ISSN 2574-609X 

Published by CRIBFB, USA 

 

56 

EMPOWERING WOMEN SELF HELP GROUPS THROUGH 

MICROFINANCE DURING COVID-19: A CASE STUDY OF 

WOMEN SHG  
 

 

Dr. Richa Sharma 

Assistant Professor 

Sharda University, India 

E-mail: richz2009@gmail.com 

 

Dr. Saurabh Mishra 

Assistant Professor 

Department of Management Studies 

Indian Institute of Information Technology Allahabad, India 

E-mail: saurabhmishra@iiita.ac.in 

 

Dr. Shashikant Rai 

Assistant Professor 

Department of Management Studies 

Indian Institute of Information Technology Allahabad, India 

E-mail: shashikant@iiita.ac.in 

 

 

ABSTRACT 

The paper describes the mitigating effect of self-help groups in India during and post covid-19 

situation. The study examines the potential opportunities and challenges concerning the 

contextual differences across and within the countries. Self-help group has been important in 

empowering its members by providing opportunities for livelihood support and income generator 

during the covid-19 situation. The self-help group played a very important role during the covid-

19 situation as half of the SHG was involved in community awareness and infection prevention 

activities in their community. The study identifies a potential mechanism through which women's 

groups may be affected by covid-19 situations. 

 

Keywords: SHG, Covid-19, Micro-Finance, Social Development, Local Community. 

 

JEL Classification Codes: G21, I3. 

 

INTRODUCTION 

Just like other disasters this too has had hits the vulnerable more and had a differential impact on 

men and women. Women are more vulnerable than men in various ways which reveals the 

continuing gender inequality concern especially in the case of the developing world which was 

also proved during the outbreak of 2014 Ebola and Zika virus of 2015 (Davies & Bennett, 

2016).SHG has played a major role across the globe in reducing the challenges of livelihood, 

especially among women. These groups have been very important in generating income for the 

mailto:richz2009@gmail.com
mailto:saurabhmishra@iiita.ac.in
mailto:saurabhmishra@iiita.ac.in


https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

57 

vulnerable section of the society during such pandemic situation. The government of India 

supporting these sections continuously by various schemes such as Day- NRLM under the 

Ministry of Rural Development (MoRD), which employs around 69 million women under SHG 

(Tankha, 2012). For the last 15 years mission is working for the livelihood of poor rural women 

and has been a valuable contributory source during the pandemic time. SHG has contributed 

holistically towards the engagement of the community for social and economic needs during the 

outbreak of a pandemic. SHG group which is mostly represented by females is creating 

awareness among in local community through phone calls, wall painting, pamphlets, and social 

media. The effort of these SHG has consolidated to work on the issues such as the use of masks, 

social distancing, and psychosocial issues of migrants, quarantine, mental health, and well-being 

of elderly people. These SHG has been very important in dealing with the current pandemic 

situation as thorough their decentralized (Rathod, & Pooja, 2015). These SGH has been very 

important in dealing with the current pandemic situation as through their decentralized 

production around 20,000 SHG produced over 19 million masks and 100,000 liters of sanitizer 

all over India. Due to their production at the local level, it has been delivered to the market 

without involving huge costs for logistics and transportation. SHG has also initiated work 

through Vulnerability Reduction Fund or with the support of state governments and local 

administration especially in Maharashtra Such as Mahila Arthik Vikas Mahamandal 

(MAVIM)and similar other groups, played a crucial role in combating the socio-economic effect 

of pandemic (Mengstie, & Singh, 2020; Mahajan & Kamble, 2011).MAVIM has contributed 

around 11 lakhs Rupees in state government relief fund through running donation campaign at 

the community level. Jeevika an organization in Bihar has used Information and communication 

technology to spread awareness and preparedness during the tough time. Many have also used 

interesting measures in spreading awareness of the pandemic through the number of activities 

such as wall painting done by Prerna in UP to communicating the message of social distancing. 

To deal with deprived migrants workers some SHG such as in Jharkhand opened a 24×7 helpline 

called Didi to provide authentic information to migrant laborers during the evacuation and return 

process to their hometown. SHG played an important role in financial inclusion in rural areas. 

During the distressing time, these women SHG were helping with the distribution of pensions by 

providing door to door services to the remote communities to access their account credit from the 

DBT scheme. The women's are worst suffered during the tough time but through this SHG they 

played a very important role by providing safety to the society through the vulnerable social 

group during the tough time (Llewelyn, 2006) 

 

History 

Micro-financing was introduced in Asian nations within the Eighties as an answer to economic 

conditions and to empower ladies. Being one of the best schemes for rural credit microfinance 

store faced a lot of challenges in the rural areas (Rogaly, 1996). Micro-finance may be a style of 

banking service provided to people who have issues in accessing formal monetary services. The 

benefit of Microfinance is for those who fall into a low-income group and do not have any 

financial support in rural areas of the country (Singh, Roy & Pandiya, 2020). In developing 

countries like Asian nations, monetary services through formal channels don't meet the strain of 

the agricultural poor, thus micro-finance will facilitates small-scale businesses by providing them 

larger monetary stability. One of the major initiatives was taken by Kudumbashree, in Kerala in 

1998. This female-led community organization of Neighborhood teams (NHGs) brings girls from 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

58 

rural and concrete areas along to fight for his or her rights and helps empower them 

(Venugopalan, 2014). 

Earlier micro fiancé anticipated providing credit to poor in semi-urban areas at the 

subsidized rate of interest through organized financial institutions. The current microfinance 

system targets rural and urban poor households with more emphasis on women borrowers. The 

finance for these assets is based on the principles of borrower knows the best. Microfinance 

creates access to skilled labor through training and education social capital built through 

representatives by promoting a democratic system enabling poverty reduction. It serves as a tool 

for liquidity for the poorest in society this helps them in strengthening their consumption pattern 

and reduces their condition of vulnerabilities. 

 

 
Figure1. The flow of microfinance financial resources 

 

  Table 1. Lists of Top 7 MFIs 

 

S.NO. Name of MFI 

1. Arohan Financial Services Pvt Ltd. 

2. Disha Microfin Pvt Ltd. 

3. Ujjivan Financial Services Ltd. 

4. SKDRDP 

5. Equity as Micro Finance Ltd. 

6. Madura Micro Finance Ltd. 

7. Grameen Koota Financial Services Pvt. Ltd 

 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

59 

Microfinance in India 

Prof. Mohammad Yunus is a name for microfinance and is known as the father of micro-credit 

for his research work in the year 1979 when Bangladesh was in a serious condition of famine. On 

his visit to the Jobra village of Bangladesh Prof. Yunus encountered the problems of poor 

women who were forced to sell their products at very low prices due to problems of poverty. He 

helped some poor by providing a small loan which has been denied by the bank due to lack of 

collateral security against the loan. NABARD in India is a bank especially designed to work for 

rural and poor people and their upliftment took this idea and started the concept of Micro 

Finance in India. 

 

Women Condition in India 

Women in India contribute 29% of the labor force, less than the world average which is around 

35% in 2004. Most of the women's work goes unpaid as the major contribution is towards 

unorganized and unprotected sector (Fletcher et al., 2017). Women are less represented in higher 

educational institutions and organized sectors which also includes the business leader. Women 

contribute around 40% of the labor force in the Agriculture sector having a meager 9% 

landholding in India (Nayak & Mahanta, 2009). The formal financial system is also not very 

welcoming for women. In comparison to 37% of the global average contribution towards GDP, 

women in India contribute a meager 17%. In addition to these women face great physical 

insecurity (Balagobei & Aravinthakumar, 2019; Sundari, 2020). Considering the other above 

factors microfinance can play important role in poverty elevation and women empowerment as 

the credit system so designed will act as an instrument to bring social and economic and changes 

in poor women's condition. The formation of a self-help group with microfinance facilities will 

help in poor women's empowerment and development. These women organizations act as a 

separate democratic group with the important instrument to change. 

 

Self Help Groups: Concepts and Measures 

SHG is based on the concept of microcredit which is instrumental for changing the condition of 

poor people. The concept of SHG is a group of people helping each other to achieve the 

economic and social goal for the betterment of society. SHG occupies a large share in the credit 

disbursement procedure. SHG playing a very important role in achieving the objective of 

economic planning which leads to the development of women and hence leads to women 

empowerment. SHG comprises 10 to 20 women who belong to the same class or category to 

resolve common problems (Agrawal, 2020). Apart from providing the opportunity of financial 

independence these SHG also help in the development of thrift and saving among the members. 

The regular saving is pooled into a fund that is disbursed among the members at an agreeable 

rate of interest. 

 

LITERATURE REVIEW 

The study reveals that the Self-help group helps in the economics and social development of 

rural women. It is a group of women who come together to achieve a common goal or objective. 

The Self-help group has developed confidence and provided continuous support to the poor rural 

women. The self-help group created many women entrepreneurs at the village level and 

developed leadership skills among the rural women (Dhakal & Nepal, 2017; Kalu & Attamah, 

2021). The government of India through a microfinance scheme has supported these SHG so that 

it could continue the journey to elevate the poverty in rural areas. It is the SHG that has provided 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

60 

a lot of support in terms of economic and social to the poor women of rural India by providing 

them a better opportunity to work and earn. SHG is one of the best self-sustain and self-created 

models for women empowerment (Kumar, 2020). Self-help group has helped the women's to 

develop and create micro-enterprises in the rural areas of the country. The self Help group has 

given a new identity to the aural women and created the confidence and environment for the 

community development program.SHG has been important towards poverty elevation and 

women empowerment. Women empowerment helps in realizing their identities, power, and 

potentially in every aspect of life. The fruits of empowerment can only be achieved when women 

are more confident, self-motivated, and strong and have more values with greater involvement in 

family matters. 

A study by Manimekalai and Rajcswari (2001) revealed that the SHG is the platform that 

created an opportunity for those having un-utilized skill knowledge.SHG act as an important tool 

for poverty elevation and women empowerment. This empowerment aims to realize identity and 

power in the very sphere of life. Women empowerment through SHG play an important role 

towards rural tribal poor especially women in motivating and supporting through these services 

within and outside such group (Murria, 2020). Vishnuvarthini and Ayyothi (2016) the women 

associated with SHG are getting more benefits in terms of health and socioeconomic 

development through the negative effect of SHG is not discussed in detail. SHG also helps in 

developing and maintaining socio-cultural balance in the country. 
 

METHODOLOGY 

Research Statement 

The research statement studied is entitled, “Empowering women Self Help Groups through 

microfinance during Covid-19 A case Study of Women SHG in Meerut District” The present 

study focuses on the analysis of the performance of women self-help groups in Meerut with the 

help of mean, standard deviation, percentage, chi-square analysis, and t-test. 

 

Research Objectives 

The broad objectives of the study are as follows: 

 The impact of microfinance in women empowerment, during Covid-19. 

 To study the income, expenditure, and savings of the members during Covid-19. 

 To analyze the performance of independent women SHGs, during Covid-19. 

 To understand the role of women's Self-help groups in creating employment 

opportunities and poverty alleviation in Meerut. 

 

Scope of the Study 

The present study has been undertaken to evaluate the performance of female SHGs and their 

impact on the socio-economic conditions of members during Covid-19 in Meerut District. The 

study is based on empirical evidence gathered from the selected respondents to study the 

progress of SHGs in the Meerut District. Further, attention has also been focused on evaluating 

the performance of sample female SHGs and efforts have been made to examine how far SHGs 

help in the upliftment of socio-economic conditions of members.  

 

Nature of Data and Sources of Data 

The collection of the data is an essential part of the research. The Primary and secondary data 

have been collected for the research. The primary data has been collected from the Meerut 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

61 

district. The secondary data has been collected with help of various sources like newspapers, 

research papers, articles, and magazines and from the website. 

 

Sampling 

Meerut district comprises of twelve blocks viz. Durarara, Hastinapur, Jani, Kharkhoda, 

Machhara, Mawana, Meerut, Parikshitgarh, Rajpura, information from members Rohtak, 

Sardhana, Sarurpur. The convenience sampling method was used to select the sample for self-

help groups and member respondents.  

 

Sampling Size 
The sample size is adopted as 300 women from female SHGs and 300 men from male SHGs in 

Meerut District based on the following formula. 

 

n =                   Z2.p.q.N 
e2 (N – 1) + Z2.p.q……………………………………. (1) 

Where, 

n = sample size 

N = population 

Z = value of standard variance at 95% confidence level (1.96) 

p = probability of success (0.5) 

q = probability of failure (0.5) 

e = acceptable error 4% of true value 

[Calculated using the formula e = z.  (p.q/n), where z = 1.96] 

 

Testing of Hypothesis 

The study endeavors to examine the association between demographic variables and the socio-

economic condition of members, for which the under mentioned hypotheses were framed. 

 H0: There is no significant relationship between the amount of saving and the amount of 

loan extended to the members, during Covid-19. 

 H0: There is no significant relationship between the loan amount and no. of installments, 

effected during Covid-19. 

 H0: There is no significant difference between the mean scores of family monthly 

income, expenses, and savings during Covid-19. 

 H0: There is no significant impact of the selected demographic variables on employment 

generation and women empowerment during Covid-19. 

 H0: There is no significant relationship between demographic variables and the impact of 

the training program of healthcare products like masks, sanitizers, gloves. 

 

DATA ANALYSIS 

General and Household Information of the Respondents 

The general and household information of the respondents is carried by using the following 

parameters: age, gender, category, house ownership, house type, electricity, Telephone/Mobile, 

sanitation facility, source of drinking water, respondent's education level, and bank account 

information and frequency of bank transactions. These parameters are the primary data collected 

for the analysis. 

 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

62 

Table 2. Age of Respondent 

 

S.NO The age group of 

respondent 

No. of Respondents Percentage 

1. 20-30 age 81 27 

2. 31-40 age   140 46.6 

3. 41-50 age   53 17.66 

4. Above 50 age 26 86.66 

 Total  300 100 

Source: Compiled By Author From Primary Data Survey 

 

Education Level of the Respondent  

The actual education level of the respondent is presented in Table 3 In the tabulation of the 

primary data we divide education level into four groups- Graduation, up to matriculation, up to 

primary, and illiterate.  

 

Table 3. Education Level  

 

S.NO The education level 

of  the respondent 

No. of Respondents Percentage 

1. Graduation 19 6.33 

2. 10
th

 42 14 

3. Primary 128 42.66 

4. Illiterate 111 37 

 Total  300 100 

 

  Table 4. Marital Status 

 

S.NO Marital status  of 

the respondent 

No. of Respondents Percentage 

1. Married 279 93 

2. Unmarried 21 7 

3. Total   300 100 

 

 

 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

63 

Availability of Telephone/Mobile  

Telephonic Communication has proved a very important and significant role in communication 

during the lockdown and pandemic period. Since cell phones and related wireless technologies 

can be used to solve one of the problems, called, literacy, and it would solve the problem of 

communication and will help in economic development. Mobile communication has bridged the 

gap of digitalization and has changed the social and economic life in the rural and semi-urban 

areas during the pandemic. 

 

  Table 5. Availability of Telephone/Mobile 

 

S.NO Variable(Telephone  

connection) 

No. of Respondents Percentage 

1. Yes 177 59 

2. No 123 41 

 Total 300 100 

 

RESULTS 

Ho: There is no significant relationship between Savings and loan amount, during Covid-19 

 

The monthly savings cross-tabulation can be seen in and table 5. To find out the 

relationship between the Amount of Saving and the Amount of loan extended to the members a 

Chi-square test at 0.05 level of significance was used. 

 

       Table 6. Amount Borrowed * Monthly Saving Cross Tabulation 

 

Factor  Calculated chi-

square value 

Degree of 

freedom 

  p-value Significance 

level 

Savings 11.910 4 <0.05 Highly 

significant 

 

It is noted from the above table that the „p‟ value is less than 0.05 and hence the result is 

highly significant. 

 

Ho: There is no significant relationship between the loan amount and no. of installment, during 

Covid-19 

 

The cross-tabulation between the loan amount and no. of an installment is seen in table 6. 

To find, A Chi-square test is used to observe the relationship between the loan amount and no. of 

installment. 

 

 

 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

64 

      Table 7. Loan Amount and No. of Installment Cross Tabulation 

 

Factor  Calculated chi-

square value 

Degree of 

freedom 

  p-value Significance 

level 

Loan amount 52.695 6 <0.05 Highly 

significant 

 

It is noted from the above table that the 'p' value is less than 0.05 and hence the result is 

highly significant. From the analysis, it is concluded that the null hypothesis is rejected and there 

is a highly significant association found between the loan amount and no. of installment. 

 

Number of Training Programmes Attended 

Training is the procedure of learning and improving the skill, knowledge, and attitude required 

for job performance. Training helps in optimum utilization and development of human resources. 

It boosts the morale of the person by motivation. The group members were given the training to 

make masks, sanitizers, and gloves for battling against covid-19. 

 

 Table 8. Number of Training Programmes Attended 

 

S.NO No. of Training 

programs attended 

No. of Respondents Percentage 

1. 1 80 26.66 

2. 2-3 154 51.33 

3. 4-6 34 11.33 

4. Above 6 32 10.66 

 Total  300 100 

 

Table 9. Impacts of Training Programmes 

 

S.NO Impact of Training programs No. of Respondents Percentage 

1. Making sanitizers from spirit and 

alcohol 

95 31.66 

2. Making DIY face masks 125 41.66 

3. Making gloves  38 12.66 

4. Other sessions 42 14 

 Total  300 100 

 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

65 

Ho: There is no significant relationship between education level and the impact of the training 

program on the working efficiency of SHG. 

 

Table 10. Association between Impact of Training Programme Attended * Level of Education 

 

Factor  Calculated chi-

square value 

Degree of 

freedom 

  p-value Significance 

level 

Education Level  6.679 9 >0.05 Not significant 

 

From the above table, we can see that the 'p' value is more than 0.05 and the result is not 

significant. From the analysis, it is concluded that an alternate hypothesis is accepted and there is 

no significant association found between the impact of training program attended and education 

level. 

 

Employment Generation 

Microfinance and employment are highly correlated as per the study. Microfinance provides an 

opportunity for those poor and vulnerable who are deprived of the traditional banking system. 

Study shows that the microcredit and SHG play a very important role in reducing the 

unemployment rate. During the Covid-19 pandemic, the self-help group members work very 

hard to come up with financial obstacles because of financial breakdown in the system, but 

through consistent efforts and moratorium period granted by the banks, they were able to sustain 

their livelihood during a pandemic. 

 

Ho: Membership experience does not influence employment generation. 

 

Employment generation exists as a dependent variable on the independent variable on 

membership experience. As per the result, p≤ 0.001 and f≥1 (i.e. 12.645) hence from a null 

hypothesis is rejected which shows a significant impact of membership experience on 

employment generation. The duration of membership has a positive correlation with employment 

generation. The membership of SHG has an impact on employment generation and people after 

joining SHG during Covid-19 believe that they are more oriented towards work to fight their 

financial shortcomings and started their small ventures by making candles, pickles, masks, 

sanitizers, etc.  

 

   Table 11. Employment Generation * Membership Experience 

 

 N Mean Std. Deviation F P 

Membership 

Experience 

up to 1 year 146 3.70 1.217   

1-2 years 106 3.53 1.347 12.645 <.001 

2-3 years 48 4.54 .504   

Total 300 3.77 1.230   

 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

66 

Ho: Age group does not influence employment generation. 

 

Age group is the independent factor and employment generation is considered as the 

dependent factor. To compare the mean scores of various age groups, ANOVA test procedures 

are applied. It is noted from the result that the 'p' value is more than 0.05 and the F value is more 

than one (2.495). Hence the result is not significant. From the analysis, it is concluded that an 

alternate hypothesis is accepted and there is no significant impact of age group on employment 

generation. There is no significant difference among the mean scores of the age group of SHG 

members. It is concluded that age group does not have a significant impact on employment 

generation. Age is not the factor that influences the employment opportunity for women to be a 

part of SHG.  

 

Ho: Marital status does not influence employment generation. 

 

It is noted from the result that the 'p' value is less than 0.05 and the F value is more than 

one (3.247). Hence the result is highly significant. From the analysis, it is concluded that the null 

hypothesis is rejected and there is a highly significant impact of marital status on employment 

generation. There is a significant difference among mean scores of the marital status of SHG 

members. It is the old belief, a man's birth completes when he takes a wife with him'. The study 

proves that the majorities of the members of SHG are married and are members of SHG and their 

family supports them to work and become more independent. During a pandemic, both men and 

women are working hard to earn bread butter for their life.  

 

Women Empowerment  

 

Ho: Education level does not influence women empowerment 

 

It is noted from the above table that the 'p' value is less than 0.05 and the F value is more 

than one (3.437). Hence the result is highly significant. From the analysis, it is concluded that the 

null hypothesis is rejected and there is a highly significant impact of the level of education on 

women empowerment. There is a significant difference among mean scores of the level of 

education of SHG members. It is concluded that the level of education has a significant impact 

on women's empowerment. The Educated women can help and guide others in the group and can 

create the group working more efficiently. 

 

                Table 12. Education Level Does Not Influence Women Empowerment 

 

 N Mean Std. 

Deviation 

F p 

Level of 

education 

graduation 19 3.32 1.293 3.437 .017 

high school 42 2.93 1.386   

primary 128 3.51 1.409   

illiterate 111 3.72 1.370   

Total 300 3.49 1.401   



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

67 

Ho: Marital status does not influence women empowerment 

 

                 Table 13. Marital Status Does Not Influence Women Empowerment 

 

 N Mean Std. 

Deviation 

F p 

Marital 

status 

married 279 3.49 1.404 3.070 <0.001 

unmarried 21 3.57 1.399   

Total 300 3.49 1.401   

 

The above table shows p ≤ 0.001 and f ≥ 1 (3.070). We can see that the result is highly 

significant and the null hypothesis is rejected which shows marital status has a high impact on 

women empowerment. 

 

Family Monthly Income, Expenses, and Savings 

Income is one of the main indicators to measure the standard of living of members. The data 

regarding income, expenses, and saving of beneficiaries was determined at two points of time i.e. 

pre and post SHG membership during Covid -19. The Family monthly income, expenses, and 

savings of the sample women SHGs' Members are analyzed before and after joining SHG in this 

section. 

 

Null Hypothesis: H0: There is no significant difference between the Mean Family monthly 

income, expenses, and savings before and after joining SHG, during Covid-19. 

 

       Table 14. Paired Samples Statistics 

 

  Mean N Std. 

Deviation 

Std. Error 

Mean 

Pair 1 Income before joining 

SHG 

2037.00 300 413.725 23.886 

income after join SHG 2300.10 300 404.469 23.352 

Pair 2 Expenses before 

joining SHG 

1722.33 300 391.402 22.598 

 Expenses after joining 

SHG 

1907.60 300 385.196 22.239 

Pair 3 Savings before joining 

SHG 

99.50 300 34.739 2.006 

Savings after joining 

SHG 

158.93 300 38.372 2.215 

 

 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

68 

Table 15. Paired Samples Test 

 

  Paired Differences t df Sig. (2-

tailed) 
  Mean Std. 

Deviat

ion 

Std. 

Error 

Mean 

95% Confidence 

Interval of the 

Difference 

  Lower Upper 

Pair 1 income before 

joining SHG - 

income after join 

SHG 

-263.100 100.57

4 

5.807 -274.527 -

251.67

3 

-

45.

310 

299 .000 

Pair 2 expenses before 

joining SHG - 

expenses after 

joining SHG 

-185.267 53.871 3.110 -191.387 -

179.14

6 

-

59.

566 

299 .000 

Pair 3 savings before 

joining SHG - 

savings after joining 

SHG 

-59.433 18.197 1.051 -61.501 -

57.366 

-

56.

572 

299 .000 

 

The Table also shows that the t' statistics, calculated as the ratio of the difference between 

sample means divided by the standard error of the difference. Since the P-value is less than 0.01, 

the hypothesis was rejected. Hence there is a highly significant difference in the Mean family 

income, expenses, and savings after joining the SHG during covid-19. This indicates that there is 

a significant increase in the Mean Scores of family income, expenses, and savings after joining 

SHG showing the Economic Empowerment of women SHGs members.  

 

FINDINGS AND SUGGESTIONS 

 Promotion of High Saving Habit In Female SHG 

It is noticed that more than one-half of the sample respondents of female SHGs have become 

members for promoting saving habits and inculcating the habit of saving through their surplus 

income. It indicates that Female SHGs have pervaded the minds of women and thereby 

inculcated the habit of thrift and savings among rural and urban poor women during a pandemic 

which has helped them to fight the difficult times in the Meerut district. 

 

 Increase In the Family Income of Group Members 
The study also reveals that there is a significant increase in the mean scores of income, savings, 

and expenses level of members of female SHG. After joining the group the income level of 

members is higher and it is shown their sources of income have increased after joining the group.  

 

 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

69 

 Marital Support  
The majority of the respondents are married and marriage is support in disguise. Marital status 

has a significant impact on the life of female members of self-help groups. Married people feel 

more confident than unmarried ones. Marital status has a highly significant impact on the social 

aspects of female SHG. 

 

 Fighting Spirit During Pandemic 

Though the stitching and tailoring are not the primary or part of economic activity as for as the 

SHG is concerned but during the cover pandemic crisis these SHG workers decided to produce 

the mask so that the shortage of mask in the market can be mitigated.  

 

 Communication Empowerment 

One of the major contributions by the SHG in the district was to make the women be connected 

by providing them training and information regarding the use of internet technology with help of 

smart phones. They have been trained on how to make use of social media. 

 

 Female SHG Helps to Reduce Poverty and Helps In Women Empowerment 

After joining the group female members feel more financially empowered and support their 

family members socially and economically. They feel the sense of pride of being recognized by 

the public in general as an independent working member supporting her family. Poverty 

alleviation is higher in Female SHG.  

 

 The opinion of Different Training Camps  
The study found that all the respondents of female SHG underwent a training program to fight 

against the pandemic. They learned to make health care products some have started a new 

business from attending the training program and some went on with their traditional business. 

The new businesses that are undertaken by them include Mask making, herbal disinfectant, and 

hand washers, coir products, agarbatti, pickles, fancy stores, etc. 

 

CONCLUSION 

In the COVID-19 pandemic, it is implausible to mark the tedious and courageous efforts put in by 

all the volunteers to meet the essential requirements. The voluntary organizations/individual 

volunteers or other support agencies are consistently working to reach out to such people with food 

and other essential commodities. Women's Self-help groups are working extremely great in India 

and are fighting to meet the daily challenges with full courage, safety, and enthusiasm. Despite the 

own sufferings, our women are collectively working around the area and taking care of the work 

with social distancing,  making masks, sanitizers, gloves, cooking, and serving hot food to 

children in the initial days of the lockdown and also the whole pandemic period to sustain their 

nutrition. Women Self Help Groups are an invaluable resource in these difficult times. Over the 

past two decagons of the Bank's association, India's SHG movement has developed from micro-

savings and credit groups that hunted to empower poor rural females, into one of the world's largest 

platforms of the poor. Today, 67 million Indian women are active members of 6 million SHGs. The 

Groups beyond the country are functioning intensely to make up the shortfall of masks and personal 

protective equipment (PPE). The attempt of these women functioning in SHGs has been remarkable 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

70 

in the fight against the pandemic, where they are not only defending themselves but are serving the 

economy also and making their efforts at a large scale to revive the economy from this depression. 

 

REFERENCES 

Agrawal, D. (2020). An Empirical Study on Women Empowerment Through Self Help Groups 

(Special Reference to Ujjain District of MP). Accent Journal of Economics Ecology & 

Engineering, 5. Retrieved from https://ssrn.com/abstract=3578466. 

 

Balagobei, S., & Aravinthakumar, S. (2019). Impact of Microcredit on Living Standard of Dairy 

Entrepreneurs: Special Focus on Oddusuddan DS Division in Mullaitivu District. Indian 

Journal of Finance and Banking, 3(2), 43-48. https://doi.org/10.46281/ijfb.v3i2.456 

 

Davies, S. E., & Bennett, B. (2016). A gendered human rights analysis of Ebola and Zika: 

locating gender in global health emergencies. International Affairs, 92(5), 1041-1060. 

https://doi.org/10.1111/1468-2346.12704. 

 

Dhakal, C., & Nepal, G. (2017). Microfinance Services and Poverty Level of Rural Farmers of 

Syangja District of Nepal. International Journal of Accounting & Finance Review, 1(1), 

31-41. https://doi.org/10.46281/ijafr.v1i1.16 

 

Fletcher, E., Pande, R., & Moore, C. M. T. (2017). Women and work in India: Descriptive 

evidence and a review of potential policies. https://dx.doi.org/10.2139/ssrn.3116310. 

 

Kalu, C. U., & Attamah, N. (2021). Globalization, Democracy, and Inequality. Decent Work 

and Economic Growth, 498-507. https://doi.org/10.1007/978-3-319-95867-5_116. 

 

Kumar, D. (2020). Mitigating Socio-Economic Impact of Covid-19: A Collaborative Approach 

of Self Help Groups (SHGs) and Micro Small and Medium Enterprises (MSME). , 174. 

Retrieved from https://www.bhumipublishing.com/wp-

content/uploads/2020/08/COVID-%E2%80%93-19-Impact-and-

Response.pdf#page=184. 

 

Kusugal, P. S. (2020). Women Empowerment through Self-Help Groups: An Empirical Study in 

Haveri District of Karnataka. Women Empowerment, 84. Retrieved from 

http://drnishikantjha.com/papersCollection/Women%20Empowerment%20.pdf#page=93

. 

Kaladhar, K. (1997). Microfinance in India: Design, structure, and governance. Economic and 

Political Weekly, 2687-2706. Retrieved from https://www.jstor.org/stable/4405979. 

 

Llewelyn, S. (2007). A neutral feminist observer? Observation-based research and the politics of 

feminist knowledge-making. Gender & Development, 15(2), 299-310. 

https://www.tandfonline.com/doi/abs/10.1080/13552070701391755. 

 

Mahajan, S. S., & Kamble, C. B. (2011). Government Support to Women Entrepreneurship: A 

Study of Programmes Implemented By MAVIM. Indian Streams Research 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

71 

Journal, 1(11), 130-134. Retrieved from 

https://www.academia.edu/download/31619629/602.pdf. 

 

Manimekalai, N., & Rajeswari, G. (2000). Empowerment of women through Self-Help Groups 

(SHGs). Margin, 32(4), 74-87. Retrieved from 

https://www.cabdirect.org/cabdirect/abstract/20013123986. 

 

Murria, P. (2020). Lending Through Women Self Help Groups: A Macro Move For inclusive 

Growth In India. Editorial Board, 9(11), 180. Retrieved from 

http://ijmer.s3.amazonaws.com/pdf/volume9/volume9-issue11(9)-2020.pdf#page=188. 

 

Mengstie, B., & Singh, A. (2020). Ethiopian Women Economic Empowerment Through 

Microfinance. Indian Journal of Finance and Banking, 4(2), 51-57. 

https://doi.org/10.46281/ijfb.v4i2.708 

 

Nayak, P., & Mahanta, B. (2009). Women empowerment in India. Retrieved from 

https://mpra.ub.uni-muenchen.de/24740 

 

Rathod, M. K., & Pooja, D. (2015). Impact of MAVIM activities on the empowerment of rural 

women. Indian Research Journal of Extension Education, 15(1), 8-11. Retrieved from 

http://www.seea.org.in/vol15-1-2015/02.pdf 

 

Rogaly, B. (1996). Micro-finance evangelism, „destitute women', and the hard selling of a new 

anti-poverty formula. Development in practice, 6(2), 100-112. Retrieved from 

https://www.tandfonline.com/doi/abs/10.1080/0961452961000157654. 

 

Rhyne, E., & Otero, M. (2006). Microfinance through the next decade: Visioning the who, what, 

where, when, and how. Boston, MA: Accion International. Retrieved from 

https://www.findevgateway.org/sites/default/files/publications/files/mfg-en-paper-

microfinance-through-the-next-decade-visioning-the-who-what-where-when-and-how-

2006_0.pdf. 

 

Sundari, S. (2020). Structural Changes and Quality of Women‟s Labour in India. The Indian 

Journal of Labour Economics, 63(3), 689-717. https://doi.org/10.1007/s41027-020-

00245-2 

 

Singh, R., Roy, S., & Pandiya, B. (2020). Antecedents of Financial Inclusion: Evidence from 

Tripura, India. Indian Journal of Finance and Banking, 4(2), 79-92. 

https://doi.org/10.46281/ijfb.v4i2.745. 

 

Tankha, A. (2012). Banking on self-help groups: Twenty years on. Sage Publications India. 

 

Vishnuvarthini, R., & Ayyothi, A. M. (2016). The role of SHG in women empowerment-A 

critical review. IOSR Journal of Economics and Finance, 7(3), 33-39. Retrieved from 

https://smartlib.umri.ac.id/assets/uploads/files/ecb5a-d0703023339.pdf. 

 



https://www.cribfb.com/journal/index.php/ijfb                               Indian Journal of Finance and Banking                    Vol. 5, No. 1; 2021 

72 

Venugopalan, K. (2014). Influence of Kudumbasree on Women Empowerment–a Study. IOSR 

Journal of Business and Management, 16(10), 35-44. Retrieved from 

https://kudumbashree.org/storage/files/8zhyr_studyrepot11.pdf. 

 

 

Copyrights 

Copyright for this article is retained by the author(s), with first publication rights granted to the 

journal. This is an open-access article distributed under the terms and conditions of the Creative 

Commons Attribution license (http://creativecommons.org/licenses/by/4.0/) 


