Motivational Factors to Join SHGs among the Fisher Folk Community of Kerala

Abstract

Microfinance is a financial model specially designed for serving the poor. Microfinance programs provide tiny loans to poor people for self- employment projects. The conception of microfinance is as an income- producing tool rather than a consumption aid, thereby, it is an appropriate way of bringing social changes and transforming the society into a progressive one. Irregular income and social and economic backwardness are the main reason for the lack of sustainable development of fisherfolk. SHGs have played a crucial role in the intervention of microcredit given to the fisherfolk communities. Therefore, the researcher intended to study the motivational factors to join the SHGs among the fisherfolk community of Kerala. The study was experimental. The study found that members of the SHGs joined intending to obtain credit and meet their domestic expenses. Hence, they are not considering the objective of micro finance while utilizing the fund. They have used their micro-credit amount for meeting their expenses.