Priyanka Bargal Hitendra Bargal Priyanka Chawla


The objective of this research paper is to examine the effectiveness of broad
range of financial products such as deposits, loans, payment services, money transfers and
insurance offered to low-income households. The research also tries to identify how well the
services of microfinance help in improving the stand of living and quality of life of slum
dwellers. The research methodology includes quantitative research. The data was collected
from 200 respondents through structured interview. The respondents of the present study
were microfinance users of slum areas that were selected through random sampling
techniques. Hypotheses testing were done using multiple regression model. The findings of
the study revealed that payment services and remittance products are having positive
impact while other variables like livestock insurance; credit product has no impact on
quality of life of slum dwellers. The results concludes that although the services of
microfinance is fulfilling the aim and objectives of slum areas but still there is a need to
review the financial products offered by microfinance institutions for betterment of life of
low income group people.

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