Customers’ Perception about Micro Finance in India: A Brief Survey on Bandhan Micro Finance

Abstract

Microfinance is generally considered as a major development instrument to uphold financial inclusion and alleviate poverty in India. The objective of the present survey based study is to analyse the customers’ perception about micro finance in India with respect to Bandhan Micro Finance. The survey was conducted near Kulgachia-Bagnan area of Howrah district, West Bengal, India where Bandhan micro finance first set up its operation taking a sample of 48 persons who are benefited from this micro finance institution. The result provides evidence that Micro-Finance is helpful for low income group people, unprivileged people and unsalaried borrowers and they can take loan without performing so many banking formalities which is beneficial to the illiterate people. Since borrowers do not require collateral securities, borrowers can work freely with their business and result also suggests that credit and education services, when provided together to groups of women, can increase income and savings, improve health/nutrition knowledge and practice, and empower women.

Keywords: Bandhan, microfinance, poverty, credit.