In developing countries, generally, women are economically dependent on earning males in their families and lack resources which can otherwise help them grow and progress. Their larger concern remains achieving financial security. Predominantly, women in rural areas face greater difficulties in generating income for their livelihood without proper education, fiscal management, and assistance. Even, women entrepreneurs have been abutting bigger challenges than the people facing in services or others. A major investigation rises for questioning the potential of women in paying back their loans and male dominance in patriarchal society for controlling the financial structure in developing societies. India is not an exception to this. It is highly needed to scrutinize the aspects related to the financial security of women in developing economies, where microfinance has emerged as a harbinger for women entrepreneurship. In this context, present paper attempts to analyze how women are seeking this option of microfinance to support their social and economic development in developing countries in general and India in particular? And whether this contribution helping women or is it just an illusion to exhibit?

Microfinance, rural women, Self-Help Groups, small business owners, social capital