AN EMPIRICAL STUDY ON THE INNOVATIVE SCHEMES AND TECHNIQUES INFLUENCING FINANCIAL INNOVATION IN MICRO FINANCE INSTITUTIONS IN KERALA

Abstract

Microfinance institutions have a huge task in reaching the poor. Understanding their requirements and tailor made schemes is an important requirement for the success of Microfinance institutions. Many innovative schemes and techniques developed by Microfinance Institutions provide solutions to their requirements. This study investigated the innovative schemes and techniques that influence financial innovation on Microfinance institutions. This study was conducted in Kerala among 110 Microfinance Institutions. Primary data was collected using structured questionnaire. Sample of 110 were drawn from the study population using stratified sampling technique. Tools used in the study are percentage analysis and descriptive analysis. Study found that respondents prefer bank funding among the innovative schemes and ATM among the innovative techniques.