Evaluation of Customer Satisfaction on Microfinance: Empirical Evidence from India

Abstract

Abstract: The present paper attempts to analyze the satisfaction level of microfinance beneficiaries in India. Microfinance is generally accepted tool for improving the economic condition of rural women in developing countries like India. Microfinance refers to a wide range of financial services including microcredit, savings, insurance, and other financial products provided by banks and non banking institutions targeted to poor and low income people. The primary data are collected from 750 women a microfinance beneficiary belongs to Namakkal district of Tamilnadu in India. The research finding proves that there is a highly significant association between educational qualification and occupation of the women beneficiaries and overall satisfaction regarding microfinance schemes. It is further proved that there is no significant association between age of the women beneficiaries and overall satisfaction level regarding microfinance. Microfinance has greatest scope in India in terms of small and medium business opportunities, improving their standard of living and employment opportunities to the rural poor and low income people