The study is based on a random sample survey of 275 micro entrepreneurs, conducted in four different slums of Mumbai namely Sathenagar, Dharavi, Vasinaka and Chithacamp. We have used structured questionnaire for the collection of data. Randomly 27 micro enterprises from Sathenagar, 73 micro enetrprises from Dharavi, 24 from Vasinaka and 151 from Chithacamp have been collected. Vasinaka and Dharavi are examples of developed slums and rest are marginalized slums. Mumbai is a place in India which is known as financial capital of India and which provides employment opportunities to a large number of people. So several people have migrated from various parts of India to Mumbai and have taken refuge in the slums of Mumbai. Out of these 275 entrepreneurs, 118 have migrated from other parts of India and 157 are from Mumbai. Generally migration took place due to marriage, or for work purpose of any other member of ...view middle of the document...
During the survey, respondents were asked about their marital status. Out of 275 women micro entrepreneurs, 248 are married, ten are unmarried and 17 are widow. The mean age of the sample ME is 39.06; the oldest entrepreneur is 73 years old.
During the survey, it was tried to understand the economic status of the households of the Mes. The family income per month ranges between Rs 1000 and Rs. 51000. The savings per family ranges between Zero and Rs. 30000. Expenditure per month per households varies between Rs. 1000 to Rs. 48000. (See Appendix –II, Table – AII.1)
Out of 275 microenterprises, 178 have no ownership of land, 46 have full ownership of land and the rest have partial ownership of land. 144 entrepreneurs have either partial or sole ownership of capital asset. 128 have some financial asset either sole or partial. (For the information on asset see Appendix-II, Table-AII.2) It is found that 165 micro entrepreneurs have used their own savings for the business purpose but the rest have not used their own savings.
It is seen that 122 entrepreneurs are MFI-members and have taken loan from MFIs for their enterprise where as 153 are non MFI-members. In these slums, different MFIs are operating. For example, in Chitacamp micro entrepreneurs are members of either Svasti or AMCCSL, where as in Sathenagar micro entrepreneurs are members of AMCCSL. In Dharavi and Vasinaka, micro entrepreneurs are members of either Bandhan or Ujjivan. Among the MFI members 74 have borrowed from MFI and the loan varies from Rs 5000 to Rs 35000. The average size of the loan is Rs 1350.
In most of the declared slums, alternative sources of finance are patpedhis, a form of ROSCA. Most of the residents are living in these declared slums for two-three generations. These ROSCAs are also charging an interest rate ranging between 10 to 12 percent. These loans are treated as emergency loans. This model has a savings component also. Some of these MEs have access to the formal banking sector for savings. There are few MFIs operating in these declared slums and most of them are NBFCs.
microenterpreneurs microfinance slum