Microfinance interventions and customer perceptions: a study of rural poor in Punjab

Abstract

Micro financing is a powerful instrument in the mission of 100 per cent Financial Inclusion of all the excluded lots in order to curb the curse of poverty, specifically in the rural areas. Banking sector has been emerging in a big way to strengthen the micro financing movement by providing a wide range of microfinance services to the rural poor. The present study delves into the role of the micro financing intervention to analyze how far it has been successful to meet the financial needs of the rural poor in terms of their preference for formal and informal sources of finance, their financial awareness and the level of satisfaction with regards to micro financing services. The study would also highlight the impact of such services on the ultimate borrowers.