Poverty alleviation through women's empowerment has become an important strategy in the last few decades not only in developing countries but also in the underdeveloped countries of the world. The governments of the under-developing and developing countries of the world have been working hard since the 1950s to tackle the problem of poverty in India through various initiatives and policies. Empowering the poor, especially rural poor women along the way with a number of strategies, is an important factor in reducing poverty through empowerment. Signs of women’s emancipation are beginning to emerge on issues related to household spending on women. It is believed that it helps reduce poverty in various ways. First, providing savings to members enables them to contribute to small savings on a regular basis, and the amount of savings thus accumulated gives them a sense of security and reduces their risk. Microfinance fits into the group of financial services revolutions under the term microfinance. Additional services under microfinance are micro-savings, money transfer vehicles and micro-insurance. Microfinance is an innovation for developing countries. Microfinance is a service for the poor who are unemployed, business people or farm owners who cannot afford it. Most microfinance companies and agencies around the world focus on women in developing countries. This research paper sheds light on various aspects of microfinance and its impact on women’s empowerment and the goal of poverty alleviation.

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Keywords: Microfinance, Women Empowerment, Microcredit, Poverty Alleviation, Per-capita Income.