Numbers often speak louder than words and this is probably truer when it comes to figures showing how microfinance encouraged social changes in different parts of India. The North-East, which had often been a forgone region in the country, is among those parts that shown significant benefits due to the presence of MFIs.

Several studies have revealed that MFI loans have helped people from the North-Eastern states to not just enhance their family income and annual savings but also to access a better quality of life.

Keeping in mind that majority of MFI loans have gone to women, the Small Industries Development Bank of India (SIDBI) conducted a survey in 2013, where 99 percent respondents were women. Talking to the surveyors, more than 90 percent respondents agreed that their socio-economic and financial conditions have significantly improved since they associated with an MFI.

Even after the survey factored in inflation rate of 8 percent and discounted the annual income figures of respondents by the same percentage, results showed substantial change in family income over the years between the time of survey and the year they received their first loan. The annual savings of respondents not just showed noteworthy improvement, their annual savings also seemed to have improved. Although the results from the North-East were not as glowing as in other parts of the country, given that the region has seen less development, the figure of 28 percent respondents talking of positive results make it an important change. Respondents from the region said that access to toilet facilities at home has increased from 48 to 61 percent, access to TV sets increased from 57 to 72 percent and mobile phones from 67 to 87 percent. Even access to refrigerators showed an increase from 18 to 23 percent.

Further empowering factors have been improved social stature and increased participation in community activities, 88 percent respondents reporting these as bonuses on both counts. Around 32 percent respondents agreed that initiatives taken with MFI loans have provided their children access to better education, 34 percent received access to better healthcare.

Interestingly, even though respondents from the North-East did not report as high on better education access as in some other parts of the country, they were high up on the list when it came to better healthcare access.