The empowerment of women is essential for economic development of any nation. Women empowerment is of utmost significance in order to achieve sustainable development of society. Precision of microfinance through self-help groups is an important means for attaining women empowerment. It has proven to be effective and popular measure in the ongoing struggle against poverty as well as for women empowerment. The microfinance industry, which began in 1976 with the establishment of Grameen Bank in Bangladesh, is now a worldwide movement comprising thousands of specialist, banks credit unions, co-operatives, village credit societies, NGOs and charities spanning across both the rich and the poor countries. All the programmes aim at empowerment of poor people, especially women and eradication of poverty. SHGs were started in 1997 in the Maharashtra state, but the concept penetrated only in recent years. Now, there is a greater amount of socio-economic emancipation among the members of SHGs. Self-help groups are voluntarily organizations, which disburse microcredit to the members and facilitate them to enter into entrepreneurial activities. Formation of SHGs for women in India has been recognized as an effective strategy for empowerment of women in rural as well as urban areas. This paper focuses on the need to raise voice for women empowerment and also suggests the ways how women empowerment can be attained where SHGs play a major role.