A Study on Perception of People Towards The Mobile Microfinancing with Special Reference to Gujarat State

Abstract

This study investigated the perception of people towards mobile microfinancing with a specific focus on Gujarat State. Utilizing a sample of 150 respondents, the research examined how various socio-demographic factors—such as gender, age, educational qualification, annual income, and marital status i.e. affect perceptions of mobile microfinancing services. The study explored key factors included trust and security concerns, security of transactions, privacy concerns, transparency of operations, and customer support and responsiveness. The findings revealed significant differences in perceptions based on gender, age, educational background, and income levels, while marital status has a more limited impact. Trust and security issues emerge as major concerns, with variations in user confidence related to service providers’ handling of personal data and transaction security. Transparency and customer support are positively perceived, yet there are notable areas for improvement. The study highlighted the importance of addressing these concerns to enhance the adoption and effectiveness of mobile microfinancing services in Gujarat. It underscored the need for targeted interventions to improve financial inclusion, support economic empowerment, and ensure user satisfaction. The results contribute valuable insights for policymakers, financial institutions, and service providers in designing more effective mobile microfinancing solutions.