The lack of literacy among the most vulnerable population in the country’s most remote areas, in addition to the country's enormous size, is another barrier preventing banking services from reaching these millions of people. Notwithstanding these difficulties, microfinance continues to be one of the most important weapons for India's quest to advance as a significant economic force. The basis for this study is secondary data. With the help of several books and magazines, the RBI report, the NABARD report, and other publications, websites, and papers secondary data was acquired. The study focuses on examining the inclusive growth of microfinance and assessing the benefits of microfinance which is the major key factor for India’s entrepreneurial spirit whereby making easy access to credit. As per SIDBI – Equifax newsletters NBFC MFI’s have registered 24% growth recently. The function of MFIs in India is nearly around 615 districts which are as follows Northeast and East – 37%, South – 25%, North – 14%, West – 15%, Central India – 9%. During FY 21-22 the total number of active loans by MFI was 8.22 crore and the Gross Loan Portfolio was by Rs. 1,57,644 which indicates a growth of 7%. Microfinance also has a significant impact on women's empowerment in society. In India, the majority of microfinance banks treat women's empowerment as one of their core policies and design their programs accordingly.

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Keywords: Microfinance, Women Empowerment, Credits, NBFC, Gross Loan.