Measuring penetration and actual usage of financial services in Manipur

The main objective of this paper was to measure the penetration of selected financial services and their awareness level by the Manipur state beneficiaries. To measure this, researcher does survey using a structures questionnaire to 600 beneficiaries from six districts of the Manipur state. The collected data was analyzed by using percentage and chart. The study found that the penetration of selected financial services is increasing rapidly but regional disparity still remain between the valley and hilly regions as the number of people served by a branch is low. The respondents’ awareness level and their actual usage of the available financial products and services are showing very low. Even though the level of penetration of financial services has increased rapidly, the beneficiaries are still popularly adopting the informal sources of credit and saving behavior in the state.