Analysis of Rural Microfinance Sustainability: Does Local Insight Driven Governance Work?

Authors

  • Sonali Bhati Research Scholar, School of Management, Sir Padampat Singhania University, Udaipur, Rajasthan, India https://orcid.org/0009-0007-5799-9686
  • Dr. Manish Dadhich Associate Professor, School of Management, Sir Padampat Singhania University, Udaipur, Rajasthan, India
  • Dr. Anurag Shukla Assistant Professor, School of Management, Sir Padampat Singhania University, Udaipur, Rajasthan, India https://orcid.org/0000-0001-5892-0342
  • Dr. Anand A Bhasker Associate Professor, School of Engineering, Sir Padampat Singhania University, Udaipur, Rajasthan, India https://orcid.org/0000-0002-6255-328X

DOI:

https://doi.org/10.31305/rrijm.2024.v09.n04.024

Keywords:

Sustainability in Microfinance, Rural Development, Green Finance, Employment

Abstract

This study aims to create sustainable microfinance models and formulate policies to facilitate finance in rural areas of western Rajasthan. The study gathers the data by distributing questionnaires to 480 respondents from chosen districts Pali, Sirohi, and Jalore. The information from the questionnaires is supplemented by focus groups held in certain places. This study's endogenous variables are microfinance sustainability and governance characteristics. Social, economic, and environmental issues are exogenous variables. Then, we quantitatively analyze the data using Smart-PLS 4.0. The study found a significant association between social, economic, governance, environmental, and sustainable microfinance. Microfinance sustainability can offer several rewards to managers, including financial stability, effective risk management, enhanced reputation, increased impact, and competitive advantage. The study's outcome can help managers achieve their social and environmental objectives and create long-term benefits for borrowers and communities.

Author Biographies

Sonali Bhati, Research Scholar, School of Management, Sir Padampat Singhania University, Udaipur, Rajasthan, India

Sonali Bhati is a dedicated scholar with a passion for business administration and management. She completed her Bachelor of Business Administration from SPU College, Falna, where she laid the foundation for her academic journey. Building upon this, she pursued her Master of Business Administration with a specialization in Marketing from Suresh Gyan Vihar University, Jaipur, where she honed her skills and deepened her understanding of the field. Driven by a quest for knowledge and academic excellence, she is currently pursuing her Doctorate in Management from Sir Padampat Singhania University, Udaipur. As a full-time research scholar, she is committed to advancing the frontiers of knowledge in her field and contributing to its evolution. With a keen interest in exploring innovative strategies and insights, her research focuses on areas pertinent to contemporary management practices.

Dr. Manish Dadhich, Associate Professor, School of Management, Sir Padampat Singhania University, Udaipur, Rajasthan, India

Dr. Manish Dadhich is PhD from the Department of Commerce, EAFM, University of Rajasthan, Jaipur, M.Com, UGC-NET (Commerce); MBA, UGC-NET (Management), RPSC-SET (Management). He has 14+ years of teaching experience in various colleges, universities, and corporate sectors, a rare blend of academia, industry, corporate consultancy, and research. He is presently working as an Associate Professor at School of Management, Sir Padampat Singhania University, Udaipur. He has published 80+ research papers in reputed international & national journals indexed in Scopus/SCI/IEEE/ABDC/WoS. He also presented more than 60 research papers at national and international conferences. He is a reviewer, advisor, and editorial board member of various reputed International Journals and Conferences of IEEE, Springer, and Elsevier. He is in charge of PhD and research, Program Officer of NSS, member of the Directorate of Research, IQAC, treasurer of SPSU Alumni Society and admission team. Presently six scholars are pursuing PhD. He was awarded two gold medals in the National Conference for the best research paper. He has published one textbook and three edited books. He is a regular invitee for FDP, research workshops, orientation, and refresher course lectures. He was also awarded one Australian patent and published two Indian patents. Further, his major research focuses on Finance, Banking, FinTech, Econometrics, and Statistics.

Dr. Anurag Shukla, Assistant Professor, School of Management, Sir Padampat Singhania University, Udaipur, Rajasthan, India

Dr. Anurag Shukla holds a Ph.D. in Finance Area from Dr. APJ Abdul Kalam Technical University (State Technical University of Uttar Pradesh). He has academic and industry experience of about 13 years. He has industry experience in trading strategies in the global derivative market at Chicago Mercantile Exchange (CME Group). He has published 20 research papers in reputed national and international journals (including Scopus and Web of Science Indexed). He has been associated with a consultancy project in financial management area. He has attended various international and national conferences at IITs and IIMs and had been the session chair at an international conference at IIT Kanpur. He organized and attended Conferences/FDPs/ Workshops. His area of interest includes Behavioral Finance, Portfolio Management, and Financial Derivatives, Mutual Funds, Fintech. Currently he is working as Associate Professor in Finance area at Alliance School of Business (ASOB), Alliance University, Bengaluru. Before joining Alliance University, he was associated with Sir Padampat Singhania University (JK Cement Group Initiative), Udaipur as Assistant Professor and Academic Coordinator and PSIT, Kanpur as Assistant Professor and Controller of Examination.

Dr. Anand A Bhasker, Associate Professor, School of Engineering, Sir Padampat Singhania University, Udaipur, Rajasthan, India

Dr. Anand A Bhaskar is PhD in Electronics from Saurashtra University, Rajkot dated October 10, 2009. Throughout topper in UG and PG level. Currently working as Associate Professor & Head of E&CE Department, Sir Padampat Singhania University, Udaipur, with 18 years of experience in universities of repute. Total six Ph.D. in Electronics and Comm. Engg. thesis guided and awarded the degree, five are ongoing. My research interests are in the field of Embedded Systems, Wireless Sensor Networks and Internet of Things. Received funded projects from government as well as private sector. Working as International Consultant for IoT projects. Forty plus research papers published in journals/conferences of repute.

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Published

15-04-2024

How to Cite

Bhati, S., Dadhich, M., Shukla, A., & Bhasker, A. A. (2024). Analysis of Rural Microfinance Sustainability: Does Local Insight Driven Governance Work?. RESEARCH REVIEW International Journal of Multidisciplinary, 9(4), 209–222. https://doi.org/10.31305/rrijm.2024.v09.n04.024

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Vol. 9 No. 4 (2024): RESEARCH REVIEW International Journal of Multidisciplinary

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