A Study on the Level of Satisfaction of Members on Various Services Offered by Microfinance Institutions

Abstract

The role of microfinance in India is increasing mainly because of the influence of two factors. First is that, microfinance institutions mainly meet the financial requirements of low income group of people. The second one is that, microfinance is considered as an important tool for financial inclusion by the policy makers in India. The microfinance institutions are considered as a commercially viable solution to overcome various issues in attaining financial inclusion, reducing the poverty level and empowerment of women. A large number of these institutions have established their branches all over India, especially in rural areas. This study attempts to understand whether women are satisfied with the services offered by various microfinance institutions. This will help us to know whether these institutions offer a good service and whether they are able to fulfill the needs of women customers. The study was conducted on a sample of 220 women beneficiaries of microfinance services of various leading Microfinance institutions operating in Kerala state. The sample was selected by convenience sampling. The results of the study show that women beneficiaries of various microfinance institutions are satisfied on different services offered by them.