Author(s):

Dr. Krishan Kumar, M Bahir, Dr. Yasmin Janjhua, Dr. Rashmi Chaudhary and Dr. Piyush Mehta

Abstract: There is strong need of microfinance for crop diversification by the small and marginal farmers for ensuring better crop returns. The farming community of the studied area of Kandaghat block in Solan district of Himachal Pradesh is availing the services of microfinance from both the formal and non formal institutions which need to be studied in terms of its nature and use for different agricultural purposes. Therefore, the present study was carried out with the objective of understanding microfinance as is perceived by the studied farming community. A sample size of 60 farmers representing 12 villages was considered through multistage random sampling. A 5 point Likert scale was used with different statements. It was found that formal institutions of microfinance were given priority by the respondents. Microloans were used for varied agricultural purposes including the social obligations. It was suggested that special schemes may be launched for the benefit of farm women.

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