CHAPTER VI

Analysis of Perception and Satisfaction

A part of the income earned by households is necessary for retirement

security, Marriage expenses of son and daughters, house construction and dealing
for emergency situations. Those who saved, simultaneously having debt felt more
secured and life are under control. In India, daughters have to pay more in marriage
market. Families with daughters may not decrease their savings. Thus savings
made for girls are started from their childhood and it is essential to keep
considerable amount in savings to meet all expenses from bring up girl child till
she get married.

The study conducted in China revealed that emergency, children‘s

education and retirement were three most commonly reported saving motives. The
Central Govt. has taken initiative steps to mobilize savings from low income
groups particularly to meet expenses of girl child and introduced a special scheme
for girls alone in 2015 named as Sukanya sumruddhi Account. The success (or)
failure of scheme depends on how the people took it. The present study examines
the opinion about this scheme from the NREGA workers. They are struggling for
hand to mouth position. In such condition, how they save their money for girl child
betterment. It is very essential and also critical to record their preference, opinions
and ideas. The analysis of the motives of NREGA workers, the less earner, having
girl child, may reveal new outlook in framing policy to give social security for
them.

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Mean Analysis:
Mean analysis is used to find the mean of each responses and ranks for the set
of responses contained in the group to infer the significance of the rank. The result of
the mean analysis related to the perception on SSA is given below:

Perception on SSA -Mean Analysis

Respondents‘ thinking over SSA has been consolidated to find out the
significant factors of perception of SSA. The following table shows the mean
scores and ranks of the responses:
Table – 6.1
Girl Child Care- Mean Scores and Rank

Std.
S. No. Perception on SSA Mean Rank
Deviation
Sense of responsibility influences to
4.04 0.95 3
1 save in this scheme
Financial Burden in Marriage (or)
4.04 0.99 3
2 education of girl child is eased
Payment of maturity amount to girl child
4.04 0.91 3
3 motivates to invest in SSA
To protect girl child some basic expenses
4.11 0.78 2
4 are voluntarily reduced.
Willingness to save for girl child as a
4.14 0.77 1
5 parental responsibility
Investment in SSA to meet the ever-
4.11 0.83 2
6 increasing Marriage expense of girl child

Inference:
The mean analysis and the rank score given alongside shows that the first
rank has been assigned to willingness to save for girl child, second ranks to protect
girl child‘s by improving savings through reducing some expenses and to meet
marriage expenses. It indicates the parental responsibility towards the girl child.

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 Table – 6.2
Financial Assistance - Mean Scores and Rank

Std.
S. No. Perception on SSA Mean Rank
Deviation

1 SSA gives satisfactory return 3.96 0.76 3

Savings with substantial lock in period

3.78 0.84 4
2 influences to invest

Partial withdrawal at the age of 18 years

4.09 0.77 2
3 of girl child attracts investment

Increasing trend of expenses and

4.14 0.87 1
4 uncertainty influences to invest

Investment in cash from attracts this

3.74 0.78 5
5 scheme

Inference:
The mean analysis and the rank score given alongside shows that the first
rank has been assigned to increase the trend of expenses and uncertainty in life,
second rank to Partial withdrawal at the time of marriage attracts investment in
SSA . It indicates the parental responsibility towards the girl child. Investment
made in cash from attract SSA has last rank. Perception of SSA indicates that
financial assistance to meet the expenses of the girl child and partial withdrawals
have received very good response.

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 Table – 6.3
Features of SSA - Mean Scores and Rank

Std.
S. No. Perception on SSA Mean Rank
Deviation
Unlimited yearly investment motivates
3.96 0.91 5
1 to invest
Tax and maturity benefit for
3.96 0.87 5
2 investment motivates to invest
Permission of even small amount as
4.07 0.87 3
3 invest inspires to invest
Interest rate greater than PPF
4.15 0.71 1
4 attracts to invest
Easy transferability of account attracts
4.09 0.88 2
5 to choose SSA
Permission of operation of account by
3.96 0.83 5
6 girl child aged 10 attracts to invest
Earning of interest even beyond
maturity date and continuation of 4.03 0.64 4
7 account attracts
SSA is the best plan to invest among
4.03 0.91 4
8 other children plans

Inference
The mean analysis and the rank score given alongside shows that the first
rank has been assigned to higher interest rate ,second rank to easy transferability of
account and third rank to possibility of depositing small amount. These are three
important features of the SSA as given by the respondents.

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 Table – 6.4
Reason for Investment in SSA - Mean Scores and Rank

Std.
S. No. Perception on SSA Mean Rank
Deviation
1 Investment in SSA is safe and secured 3.99 0.51 5
Investment in SSA as per financial advice
4.05 0.90 4
2 from others
Financial performance and features of
various plans are to be published in
4.12 0.75 2
newspapers and electronic media to take
3 investment decision.
Importance of savings for meeting the
4.12 0.90 3
4 future motivates to invest
More family incomes are set aside for
4.15 0.86 1
5 investment in SSA

Inference:
The mean analysis and the rank score given alongside shows that the first
rank has been assigned to more family incomes set aside for SSA and Second rank
to financial performance and features of plans published in various media and third
rank to importance of savings to meet future motives. It indicates that the majority
of the respondents‘ family incomes are set aside for investment in SSA.

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 Table – 6.5
Other Reasons - Mean Scores and Rank

Std.
S. No. Perception on SSA Mean Rank
Deviation
The size of the family and amount of
1 savings are inversely related 4.35 0.89 1
2 SSA opened by the compulsion of Spouse. 3.95 1.03 5
Uncertainty of income, irregular
employments &health hazards may affect
3 regularity 4.07 0.72 4
SSA helps girl child to buy house for
4 themselves 4.16 0.87 3
SSA scheme helps to change male- female
5 sex ratio. 4.29 0.68 2

Inference:
The mean analysis and the rank score given alongside shows that the first
rank has been assigned to size of family and amount of savings are inversely
related , second rank to SSA helps to change male-female sex ratio and third rank
to SSA helps girl child to buy house for themselves. It indicates that if size of
family is more, savings will be less due to meeting basic obligations to everyone
and the reason of preferring investment in SSA and it would help to change the
male -female ratio by reducing the female infanticides.

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 Table – 6.6
Over all Perception of SSA-Mean Analysis and Rank Scores

Sl. Std.
Perception on SSA Mean Rank
No Deviation

1 Investment in SSA is safe and secured 3.99 0.51 23

2 SSA gives satisfactory return 3.96 0.76 24
Sense of responsibility influences to save in
4.04 0.95 18
3 this scheme
Financial Burden in Marriage (or) education
4.04 0.99 20
4 of girl child is eased
Savings with substantial lock in period
3.78 0.84 29
5 influences to invest
Unlimited yearly investment motivates to
3.96 0.91 26
6 invest
Tax and maturity benefit for investment
3.96 0.87 26
7 motivates to invest
Payment of maturity amount to girl child
4.04 0.91 18
8 motivates to invest in SSA
Partial withdrawal at the age of 18 years of
4.09 0.77 12
9 girl child attracts investment
Increasing trend of expenses and
4.14 0.87 7
10 uncertainty influences to invest
The size of the family and amount of
4.35 0.89 1
11 savings are inversely related
12 Investment in cash from attracts this scheme 3.74 0.78 30
Permission of even small amount as invest
4.07 0.87 15
13 inspires to invest
Interest rate greater than PPF attracts to
4.15 0.71 5
14 invest
Easy transferability of account attracts to
4.09 0.88 13
15 choose SSA
Permission of operation of account by girl
3.96 0.83 24
16 child aged 10 attracts to invest
17 SSA opened by the compulsion of Spouse. 3.95 1.03 28
Earning of interest even beyond maturity
4.03 0.64 22
18 date and continuation of account attracts
To protect girl child some basic expenses
4.11 0.78 10
19 are voluntarily reduced.

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 Sl. Std.
Perception on SSA Mean Rank
No Deviation

Investment in SSA as per financial advice

4.05 0.90 17
20 from others
SSA is the best plan to invest among other
4.03 0.91 21
21 children plans
Substantial information about importance of
4.07 0.94 14
22 investment influences to save
Financial performance and features of
various plans are to be published in
4.12 0.75 8
newspapers and electronic media to take
23 investment decision.
Importance of savings for meeting the
4.12 0.90 9
24 future motivates to invest
Uncertainty of income, irregular
employments &health hazards may affect 4.07 0.72 15
25 regularity
More family incomes are set aside for
4.15 0.86 4
26 investment in SSA
Willingness to save for girl child as a
4.14 0.77 6
27 parental responsibility
Investment in SSA to meet the ever-
4.11 0.83 11
28 increasing Marriage expense of girl child
SSA helps girl child to buy house for
4.16 0.87 3
29 themselves
3 SSA scheme helps to change male- female
4.29 0.68 2
0 sex ratio.

Inference:
The mean is high for The size of the family and amount of savings are
inversely related with a score of 4.35 followed by the factors SSA scheme helps to
change male- female sex ratio with a mean value of 4.29 and SSA helps girl child
to buy house for them.with a mean value of 4.16 are the top three ranks.

The mean analysis and the rank score given alongside shows that the first
rank has been assigned to the size of the family and amount of savings are
inversely related, second rank to SSA scheme helps to change male- female sex
ratio, and third rank to SSA helps girl child to buy house for them. The overall

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perception mean analysis shows that size of family, savings-family size increases –
savings reduces; helps in changing sex ratio, and buy house for girl child using
SSA.The other notable ranks are more family income sea side for investment in
SSA and greater interest rate attraction to invest in SSA as the fourth and fifth
ranks respectively.

Pattern of Perception Of SSA:

The perception of SSA in respect of various variables shows that majority
of them fall under agree and strongly agree groups. It ranges from 62 percent to 92
percent. The pattern curve also proves that perception of SSA is very aggressively
got into the minds of the public. The disagreement on SSA perception is very
lesser. The top five ranks of perception are towards-safe investment, family size
and savings inversely related, helps to change sex ratio; increase in expenses and
uncertainty and gives satisfactory return respectively.

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 Table – 6.7
Pattern of Perception of SSA
Both
Strongly Agree&Stron
No. Perception Variables SDA DA Undecided Agree agree Total Pattern gly Agree Rank
1 Investment in SSA is safe and secured 4 0 30 330 36 400 92% 1
2 SSA gives satisfactory return 6 16 38 267 73 400 85% 5
3 Responsibility influences to save 10 12 78 152 148 400 75% 24
4 Financial Burden of girl child is eased 18 4 70 161 147 400 77% 21
5 substantial lock in period influences to invest 6 6 139 168 81 400 62% 30
6 Unlimited yearly investment motivates 4 24 78 172 122 400 74% 25
7 Tax and maturity benefit motivates to invest 6 12 89 178 115 400 73% 27
8 maturity amount to girl child motivates 12 0 85 166 137 400 76% 22
9 Partial withdrawal at age 18 attracts 0 6 85 175 134 400 77% 20
10 Increasing expenses & uncertaintgy influences 12 6 38 204 140 400 86% 4
11 The family size and savings are inversely related 12 0 40 134 214 400 87% 2
12 Investment in cash form attracts this scheme 6 16 103 227 48 400 69% 28
13 Allowing small amount to invest inspires to invest 10 0 78 177 135 400 78% 19
14 Interest rate greater than PPF attracts to invest 0 0 75 190 135 400 81% 11
15 Easy transferability of account attracts SSA 12 0 67 182 139 400 80% 13
16 operation of account by girl child aged 10 attracts to invest 6 4 96 187 107 400 74% 25
17 SSA opened by the compulsion of Spouse. 12 16 102 120 150 400 68% 29
interest beyond maturity and continuation of account attracts
0 4 63 250 83 83% 7
18 to invest 400
19 protects girl child to meet expenses voluntarily attracts SSS 0 16 55 198 131 400 82% 9
20 Investment in SSA as per advice from others 12 6 64 187 131 400 80% 15
21 SSA the best plan to invest among other children plans. 12 6 68 185 129 400 79% 18
22 Substantial information about importance influences to save 12 3 82 151 152 400 76% 22
Publication of performance & features in newspapers &
0 6 72 190 132 81% 12
23 electronic media to take decision. 400
24 savings for meeting the future motivates to invest 12 6 51 185 146 400 83% 8
Uncertainty of income, irregular employments & health hazards
0 6 74 207 113 80% 14
25 affect the investment regularity 400
26 More incomes are set aside for investment in SSA 6 4 74 155 161 400 79% 17
27 Willingness to save for girl child as a parental responsibility. 0 6 77 171 146 400 79% 16
Investment in SSA to meet the ever increasing Marriage
6 12 46 205 131 84% 6
28 expense of girl child 400
29 SSA helps girl child to buy house for themselves 6 12 53 169 160 400 82% 9
SSS helps to change sex ratio by reducing the female
0 0 52 181 167 87% 2
30 infanticides. 400

Sources :Primary Data

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Chi-Square Analysis:
The most common Chi-square significance tests are Pearson chi-square test
and the Likelihood ratio chi-square test. This statistics in Chi-square significance
tests is used to test the hypothesis of no association of columns and rows in tabular
data. It is a tool for examining the relationship between two discrete variables.
Appropriate hypothesis is framed and tested for its significance.

Perception of SSA and Savings:

It is decided to get information about the opinion on the concept of

investment in SSA to protect the life of the girl child and increase in the behavior
of savings for making investments for the child.

The opinions on such perception variables in relation to the savings may be

at different levels of agreement. Such levels are: Strongly Disagree, Disagree;
Undecided; Agree; strongly agree. To find the association between levels of
agreement of SSA and savings, the appropriate hypothesis is framed and tested.

There are 30 perception variables to be examined in relation to its

association with savings. Each perception variables responses are varying
according to the level of agreement such as Strongly Disagree, Disagree;
Undecided; Agree; strongly agree. The 30 variables are grouped under and
analaysed. Overall analysis is given by taking all the 30 variables together.

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Influencing factors and Savings
To check whether there is any association between factors influencing
investment in SSA and savings, the following hypothesis is framed and tested.

Ho : There is no significant association between the factors influencing

investment and savings.
Table – 6.8
Influencing Factors and Savings
Pearson
Asymp
Chi-
No. Particulars df Sig. Remarks
Square

1 Sense of responsibility 8.55 8 0.38 Accepted

influences to save in this
scheme
2 Financial Burden in Marriage/ 42.90 8 0.00 Rejected
education of girl is eased
3 Payment of maturity amount to 47.30 6 0.00 Rejected
girl child motivates
4 To protect girl child some 59.17 6 0.00 Rejected
expenses are reduced
5 Willingness to save for girl 4.89 6 0.56 Accepted
child as a parental
responsibility.
6 Investment in SSA to meet the 20.24 8 0.01 Rejected
increasing Marriage expense

Inference:
Chi-square test on above variables shows acceptance or rejection of
hypothesis based on P value. If p value is less than 0.05, the hypothesis would be
rejected otherwise accepted. Out of six independent variables of investment in SSA
two variables: ―sense of responsibility ―and ―willingness to save for girl child‖ did
not show association with savings. Thus the hypothesis is accepted. All other four

117
variables such as financial burden, payment on maturity, Protect girl child and
investment to meet marriage expenses have close association with savings.

Return and attraction of investment and Savings

To check whether there is any association between return and attraction of
investment and Savings, the following hypothesis is framed and tested.

Ho: There is no significant association between Return and attraction of

investment and Savings.
Table – 6.9
Return and Attraction of Investment and Savings

Pearson
Asymp
Chi-
No. Particulars Df Sig. Remarks
Square

1 SSA gives satisfactory return 22.19 8 0.01 Rejected

2 Savings with substantial lock in 59.95 8 0.00 Rejected
period influences to invest
3 Partial withdrawal at age of 18 14.51 6 0.02 Rejected
years of girl child attracts
4 Increasing trend of expenses and 30.38 8 0.00 Rejected
uncertainty influences
5 Investment in cash form attracts 31.83 8 0.00 Rejected
this scheme

Inference:

Chi-square test on above variables shows acceptance or rejection of

hypothesis based on P value. If p value is less than 0.05, the hypothesis would be
rejected otherwise accepted. All the five independent variables indicated significant
association with savings. Hypothesis is rejected in all cases.

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Feature of SSA And Savings
It is decided to check the association between some of the features of SSA
and the savings pattern of the respondents. Appropriate hypothesis is framed and
tested.

Ho: There is no significant association between features of SSA and Savings

Table – 6.10
Feature of SSA and Savings
Pearson
Asymp
Chi-
No. Particulars df Sig. Remarks
Square

1 Unlimited yearly investment 27.35 8 0.00 Rejected

motivates to invest
2 Tax and maturity benefit for 70.82 8 0.00 Rejected
investment motivates
3 Permission of even small amount 19.33 6 0.00 Rejected
as investment inspires
4 Interest rate greater than PPF 17.65 4 0.00 Rejected
attracts to invest
5 Easy transferability of account 10.05 6 0.12 Accepted
attracts to choose SSA
6 Permit operation of account by 32.77 8 0.00 Rejected
girl child aged 10 attracts
7 interest even beyond maturity 56.28 6 0.00 Rejected
date and continuation
8 SSA is the best plan to invest 40.81 8 0.00 Rejected
among other children plans.

Inference:

Chi-square test on above variables shows acceptance or rejection of

hypothesis based on P value. If p value is less than 0.05, the hypothesis would be
rejected otherwise accepted. Out of eight variables, a variable: ―Easy transferability

119
of account attracts to choose SSA‖ did not show association with savings. So, the
hypothesis is accepted. All other seven variables are having association with the
savings .Hence ,they are rejected .

Investment in SSA And Savings

It is decided to check the association between some of the variables related
to investment in SSA and the savings pattern of the respondents. Appropriate
hypothesis is framed and tested.

Ho: There is no significant association between Perception level on investment

options and savings
Table – 6.11
Investment in SSA and Savings

Pearson
Asymp
Chi-
Particulars df Sig. Remarks
Sl.No Square

1 Investment in SSA is safe and

67.25 6 0.00 Rejected
secured
2 Investment in SSA as per
46.37 8 0.00 Rejected
financial advice from others
3 Financial performance
&features of plans are to be 12.24 6 0.06 Accepted
published
4 Importance of savings for
33.92 8 0.00 Rejected
meeting the future motivates
5 More family incomes are set
38.86 8 0.00 Rejected
aside for investment in SSA

Inference:

Chi-square test on above variables shows acceptance or rejection of

hypothesis based on P value. If p value is less than 0.05, the hypothesis would be
rejected otherwise accepted. Out of five variables, one variable: ―Financial
performance &features of plans are to be published‖ did not show association with
savings. That is, the hypothesis is accepted.

120
All other variables: Safety and Security, financial advice, importance of savings
and more set aside of income for investment have close relationship with savings.

Other Factors of SSA and Savings

It is decided to check the association between some of the other features of
SSA and the savings pattern of the respondents. Appropriate hypothesis is framed
and tested.

Ho: There is no significant association between other factors of SSA and

savings
Table – 6.12
Other Factors of SSA and Savings
Pearson
Asymp
Chi-
No. Particulars df Sig. Remarks
Square

1 The size of the family & savings

25.71 6 0.00 Rejected
amounts inversely related
2 SSA opened by the compulsion
41.36 8 0.00 Rejected
of Spouse.
3 Uncertainty of income, irregular
13.01 6 0.04 Rejected
employments & health hazards
4 SSA helps girl child to buy
16.21 8 0.04 Rejected
house for themselves
5 SSA scheme helps to change
25.38 4 0.00 Rejected
male- female sex ratio

Inference:
Chi-square test on above variables shows acceptance or rejection of
hypothesis based on P value. If p value is less than 0.05, the hypothesis would be
rejected otherwise accepted. All the five variables : size of the family, compulsion
of spouse, uncertainty of income, using amount to buy house and male-female sex
ratio are having significant association with savings. Thus the entire hypotheses
are rejected.

121
Overall perception of SSA factor and Savings:
It is decided to check the association between all the 30 variables of
perception of SSA and the savings pattern of the respondents. The result of the Chi-
square analysis shows the following results:

1. The Chi-square test shows that there is significant association between

perception of SSA and quantum of savings in majority of the cases.
2. Out of the 30 perception variables, four variables had no significant
association with savings pattern and hence rejected:
a. Sense of responsibility influences to save in this scheme;
b. Willingness to save for girl child as a parental responsibility
c. Easy transferability of account attracts to choose SSA and
d. Financial performance &features of plans are to be published and
3. Out of 30 variables, 26 perception variables show significant association
with perception of SSA and quantum of savings.

122
ARTIFICIAL NEURAL NETWORK ANALYSIS: (ANN)
Neural networks are the preferred tool for many predictive data mining
applications because of their power, flexibility, and ease of use. ANN is non
parametric technique used to forecast the target variable based on the predictor
variables.

An Artificial Neural Network map is a set of inputs into a set of outputs,

performed by processing elements, called neurons Bandy et al (1990), which are
interconnected to form a network divided into layers. The input layer receives
inputs from the outside, the output layer sends output to the outside and one or
more intermediate layers known as the hidden layers connect the input and output
layers, the number of hidden layer determines the complexity of the network.

The artificial neuron (Figure 2) is a processing element that receives signals

(I0, I1….Ik) as inputs and computes the weighted sum of all the signals to generate
a global net input (Netj). It then yields an output (Oj) by transformation of the net
input by means of an activation function.

Chart No.6.1
An Artificial neuron

The neural network does not give decisions or actions but merely an output
purely based on the inputs schematically depicted in Figure. Neural network used in
predictive applications has two models, Multilayer perceptron (MLP) and Radial basis
function (RBF) networks.

123
 Chart No.6.2
Action of network based on external rules

Procedure:
1. The dependent variable, which needs to be predicted, are taken as target
variables. The explaining variables are taken as covariates.
2. It uses random number generation and assigns partitions .
3. Partition Dataset group specifies the method of partitioning the active
dataset into training, testing, and holdout samples.
4. ANN gives case summary and importance of Independent variable
importance analysis.

Predicting Quantum of Savings Using ANN

It is decided to predict the quantum of savings by taking the explaining
variables. Everyone tries to enhance the savings to meet the expenses of the girl
child at a future time. The success rate of SSA depends on the 30 perception
variables. To predict the quantum of savings a Radial Basis Function (RBF)-Neural
Network Analysis is used. It creates multiple layer networks-Input layer, Hidden
layer and output layer. The given data are prepared for analysis by using random
number generators and taking the dependent variable: Quantum of savings and 30
perception variables in the model. The results of the process are given below:

124
 Table - 6.13
Case Processing Summary

N Percent
Training 279 70.3%
Sample
Holdout 118 29.7%
Valid 397 100.0%
Excluded 3
Total 400

The case processing summary shows that 400 cases were assigned to the
sample, 279 have been taken the training sample, 118 have been taken as the
holdout sample. 3 cases were cases excluded from the analysis.

Table - 6.14
Model Summary
Training Sum of Squares Error 56.254

Percent Incorrect Predictions 26.9%

Bayesian Information Criterion

651.638a
(BIC)

Training Time 00:00:00.625

Holdout Percent Incorrect Predictions 34.7%

Dependent Variable: Quantum of income saved in this account

a. The number of hidden units is determined by the Bayesian Information
Criterion: The "best" number of hidden units is the one that yields the
smallest BIC in the training data.

125
 Table - 6.15
Classification

Predicted

Percent
Sample Observed Up to 25% 26% to 40% Above 50% Correct

Training Up to 25% 204 0 0 100.0%

26% to 40% 64 0 0 .0%

Above 50% 11 0 0 .0%

Overall Percent 100.0% .0% .0% 73.1%

Holdout Up to 25% 77 0 0 100.0%

26% to 40% 34 0 0 .0%

Above 50% 7 0 0 .0%

Overall Percent 100.0% .0% .0% 65.3%

Dependent Variable: Quantum of income saved in this account

Inference:
The model summary displays information about the results of training,
testing, and applying the final network to the holdout sample. It displays average
percentage of incorrect predictions. Relative errors or percentages of incorrect
predictions are also displayed for individual dependent variables. Sum of squares
error displayed in training 56.254. The error has to be minimized by the network
during training. The estimation process stopped because the error did not decrease.
The classification table shows the practical results of using the network. For each
case, the predicted response is the category with the highest predicted pseudo-
probability. It gives the number of cases classified correctly and incorrectly for
each dependent variable category. The percentage of the total cases that were
correctly classified is also reported. The model identifies that quantum of savings is
to be excelled under three classifications. The hold out sample percentage validates
the correctness of the model. 65.3 percent (100-34.7 =65.3) of the cases were

126
correctly classified by the model. Though the hold out sample is small, it suggests
that the model, in fact, is correct about 3 out of 4 times.
Chart – 6.3
Predicted Pseudo-Probabilities

For categorical dependent variables, the predicted-by-observed chart

displays clustered boxplots of predicted pseudo-probabilities for the combined
training and testing samples. The x axis corresponds to the observed response
categories, and the legend corresponds to predicted categories.
Table-6.16
Area Under the Curve

Area

Quantum of income saved in this account Up to 25% .561

26% to 40% .570

Above 50% .755

127
 Chart -6.4
Cumulative Gains

The cumulative gains chart shows the percentage of the overall number of
cases in a given category ―gained‖ by targeting a percentage of the total number of
cases. The diagonal line is the ―baseline‖ curve; if one selects 10% of the cases
from the scored dataset at random, he would expect to ―gain‖ approximately 10%
of all of the cases that actually take any given category. The farther above the
baseline a curve lies, the greater the gain.

128
 Chart – 6.5 Receiver Operating Characteristic (ROC)

ROC (Receiver Operating Characteristic) curve for each categorical

dependent variable displays sensitivity by specificity for all possible classification
cut offs. For a given dependent variable, the ROC chart displays one curve for each
category. The chart shown here displays three curves, one for each category of the
target variable.

The lift chart is derived from the cumulative gains chart, and the values on
the y axis correspond to the ratio of the cumulative gain for each curve to the
baseline. Thus, the lift at 10% for the category up to 25 percent saving is
approximately 20%/10% = 2.0. It provides another way of looking at the
information in the cumulative gains chart

129
Chart – 6.6 Lift Chart

130
 Table-6.17
Independent Variable Importance
Im por tance Nor m alize d
No Satis faction var iable s Im por tance Rank

1 SSA scheme helps to change male- female sex ratio. 0.067 100.0 1
2 Financial Burden in Marriage (or) education of girl child is eased 0.047 69.9 2
3 SSA helps girl child to buy house for themselves 0.046 68.7 3
4 SSA opened by the compulsion of Spouse. 0.045 67.0 4
5 Savings with substantial lock in period influences to invest 0.045 66.1 5
6 SSA gives satisfactory return 0.044 66.0 6
7 Investment in cash form attracts this scheme 0.043 63.6 7
8 More family incomes are set aside for investment in SSA 0.041 61.5 8
9 Sense of responsibility influences to save in this scheme 0.040 59.0 9
10 SSA is the best plan to invest among other children plans 0.039 57.7 10
11 Investment in SSA as per financial advice from others 0.037 55.2 11
12 Investment in SSA to meet the ever increasing Marriage expense 0.037 55.1 12
13 Partial withdrawal at the age of 18 years of girl child attracts 0.036 54.1 13
14 Substantial information about importance of investment influences 0.035 51.9 14
15 Earning of interest even beyond maturity date &continuation 0.033 49.6 15
16 Payment of maturity amount to girl child motivates to invest in SSA 0.032 47.9 16
17 Increasing trend of expenses and uncertainty influences to invest 0.032 47.5 17
18 The size of the family & amount of savings are inversely related 0.031 45.9 18
19 Permission of even small amount as invest inspires to invest 0.029 42.6 19
20 Importance of savings for meeting the future motivates to invest 0.028 41.1 20
21 Easy transferability of account attracts to choose SSA 0.027 39.6 21
22 Tax and maturity benefit for investment motivates to invest 0.026 39.0 22
23 Unlimited yearly investment motivates to invest 0.026 38.8 23
24 To protect girl child some basic expenses are voluntarily reduced . 0.025 36.9 24
25 W illingness to save for girl child as a parental responsibility 0.023 34.3 25
26 Permission of operation of account by girl child aged 10 attracts 0.018 27.0 26
27 Interest rate greater than PPF attracts to invest 0.018 26.4 27
28 Investment in SSA is safe and secured 0.018 26.2 28
29 Financial performance and features of various plans be published . 0.016 24.0 29
30 Uncertainty of income, irregular employments &health hazards affect 0.014 21.2 30

131
Chart 6.7

132
Inference:
The independent variable importance data shows that the results are
dominated by the following top 5 perception SSA variables:
1. SSA scheme helps to change male- female sex ratio (100 %)
2. Financial Burden in Marriage (or) education of girl child is eased (69.9 %)
3. SSA helps girl child to buy house for themselves (68.7 %)
4. SSA opened by the compulsion of Spouse ( 67%) and
5. Savings with substantial lock in period influences to invest (66.1%) are the
top 5 dominant variables are to be considered.

The data shown as ―importance‖ under the independent importance table

shall be taken as co-efficient to predict quantum of savings.

The Levels of Satisfaction :

There are different levels of satisfaction such as Highly
dissatisfied,Dissatisfied,Unidecided, satisfied and Highly satisfied.As everybody is
different, so also their opinions.The responses towards levels of satisfaction are
tested to identify difference among the levels of satisfaction.For this purpose, chi-
square goodness of fit test is employed.The results are given below:
Table 6.18
Level of Satisfaction of SSA Rules
Highly dissatisfied

Highly satisfied
Dissatisfied

Satisfied
Decided
S.No.

Un
%

1 Governing rules allowed 06 1.5 0 0 43 10.75 227 56.75 124 31.00

to continue after marriage
2 Restriction on age limit 06 1.5 06 1.5 37 9.25 201 50.25 150 37.50
for opening SSA A/c
3 Not allowed to deposit 0 0 0 0 63 15.75 176 44.00 161 40.25
lump sum amount in SSA

133
Interpretation :
The above table shows satisfaction level and rules related to SSA in opening
and maintain of SSA. Majority of the respondents got satisfied with the rules of
SSA in relation to not allowed to continue the SSA after marriage, restriction of
age in opening the SSA and not allowing lump sum deposit in SSA. The
frequencies of the responses are shown in the form of chart also.
Table – 6.19
Level of Satisfaction on Services & Facility

Dissatisfied

Undecided
dissatisfied

Satisfied

satisfied
Highly
Highly
S.No.

%
Services & facilities
1 provided by bank or 6 1.5 14 3.5 32 8 101 25.25 247 61.75
PO
Premature
2 withdrawal weakens 12 3 0 0 100 25 149 37.25 139 34.75
the scheme
Limits the number of
3 6 1.5 9 2.25 60 15 235 58.75 90 22.5
accounts
No link with
4 12 3 6 1.5 43 10.75 192 48 147 11.75
insurance scheme
Fund transfer through
5 0 0 6 1.5 78 19.5 126 3.15 190 47.5
online is not allowed

Interpretation:
The above table shows the level of satisfaction on service facilities. The
respondents are highly satisfied (61.75 percent) with facilities provided by bank
and post office; satisfied (37.25 percent) about the premature withdrawal weakens
the scheme; Satisfied (58.75 percent) on the limits on opening account number of
accounts; Satisfied (48 percent) on no link with insurance scheme; Highly satisfied
(47.5 percent) on funds transfer through on line not allowed . The chart also depicts
the same.

134
 Table -6.20
Level of Satisfaction on Features & Tax Benefits

Highly satisfied
Dissatisfied
dissatisfied

Undecided

Satisfied
Highly
S.No.

%
SSA gives
Strong
1 financial 0 0 0 0 16 4 201 50.25 183 45.75
protection to
female child
Investment
motivation due
to awareness
2 0 0 0 0 59 14.75 164 41 177 44.25
created by
central &
state Govt.
Higher lock in
3 period ie 21 0 0 0 0 54 13.5 185 46.25 161 40.25
years
Tax benefits
4 up to 1.5lakhs 0 0 0 0 103 25.75 183 45.75 114 28.5
u/s 80 C
Procedure to
5 open & 0 0 0 0 30 7.5 240 60 130 32.5
maintain a/c

Interpretation :
The above table shows the satisfaction level on features and Tax benefits of
SSA. Majority of the respondents have satisfied (50.25 percent) on the financial
protection to female child; Highly satisfied (44.25 percent) on investment
motivation and awareness created by government; Satisfied (46.25 percent) on
higher lock in period; satisfied (45.75 percent) tax benefits; Satisfied (60 percent)
on procedure to open and maintain the accounts. The charts depict the same.

135
Mean Analysis:
As every one‘s opinion is different, responses to a question in the Likert scale
form such as ― not satisfied‖, ―satisfied‖, ―highly satisfied‖, ―dissatisfied‖ and ―highly
dissatisfied‖ may also be differently answered by respondents‘. Finding mean of the
different levels of scaled responses would give some useful meaning. Mean analysis is
used to find the mean of each response and gives ranks for the set of responses
contained in the group to infer the significance of the rank. The result of the mean
analysis of satisfaction on SSA are given below:

Over All Satisfaction on SSA -Mean Analysis

Respondent‘s satisfaction over SSA is consolidated to find out the
significant factor among the various factors responded by them. The following
table shows the scores and ranks.
Table – 6.21
Satisfaction on SSA -Mean Analysis
Std.
Sl.No. Satisfaction on SSA Mean Rank
Deviation
1 Interest rate on SSA 3.708 0.74 21
SSA gives Strong financial protection to 4.418 0.57 2
2
female child
SSA permits flexibility in amount of 4.180 0.79 13
3
deposits
4 Frequency of visit to bank or Post Office 4.115 0.73 16
Transferability of SSA A/c to any place in 4.298 0.69 4
5
India
6 Tax benefits up to 1.5lakhs u/s 80 C 4.028 0.74 18
Availability of Money for girl child‟s 4.315 0.72 3
7
marriage at future
8 Improves gender equality 4.095 0.79 17
9 Financial security for girl and parents 4.185 0.73 12
10 Higher lock in period ie 21 years 4.268 0.68 6
Fund transfer through online is not 4.250 0.82 7
11
allowed

136
 Std.
Sl.No. Satisfaction on SSA Mean Rank
Deviation
12 Limits the number of account 3.985 0.78 20
13 No clarity in future interest rate 4.240 0.70 10
14 No link with insurance scheme 4.140 0.89 15
15 Premature withdrawal weakens the scheme 4.008 0.93 19
16 Not allowed to continue after marriage 4.158 0.73 14
Not allowed to deposit lump sum amount 4.245 0.71 9
17
in SSA
Restriction on age limit for opening SSA 4.208 0.79 11
18
A/c
Investment motivation due to awareness 4.295 0.71 5
19
created by Govt.
Services of agents in PO & Banks relating 3.590 0.85 22
20
to SSA
21 Procedure to open & maintaining account 4.250 0.58 7
Services & facilities provided by bank 4.423 0.89 1
22
or PO towards SSA

Interpretation:
It can be inferred from the Table 5.16 that the mean is high for ―Services &
facilities provided by bank or PO towards SSA “with a score of 4.423 followed
by the factor ―SSA gives Strong financial protection to female child―with a
mean value of 4.418 and ―Availability of Money for girl child‟s marriage at
future‖ with a mean value of 4.315 are the top three ranks.This indicates that the
satisfaction on SSA ―Services & facilities provided by bank or PO towards SSA
“is a major contributor towards satisfaction level.

137
Pattern of Satisfaction of SSA:
The pattern of satisfaction of SSA inferred from the responses shows that
majority of them are satisfied and highly satisfied and it ranges from 58 percent to
96 percent. It also shows that dissatisfied over SSA is very less. The pattern curve
also proves that the level of satisfaction has been higher and majority of them get
satisfaction over making investment in SSA and its governing rules.

The pattern of satisfaction of SSA indicates the variables as top ranked scores:
1) SSA provides strong financial protection
2) Procedure to open and maintain accounts
3) No clarity over future interest rate
4) Not allowed to continue after marriage
5) Services and facilitates by bank and Post office
6) Transferability of SSA to any place in India

Though there is no clarity over future interest rate and not allowed to continue after
marriage, the satisfaction over the SSA is greater and majority of the respondents
like this scheme to protect the girl child.

138
 Table – 6.22
Pattern of Satisfaction of SSA
Both Satisfied
Highly Disstatis Highly &Hghly
No. Satisfaction Variables dissatis fied fied Undecided Statis fied satisfied Total Pattern Satisfied Rank
1 Interest rate on SSA 8 0 136 213 43 400 64% 21
2 SSA provides Strong financial protection 0 0 16 201 183 400 96% 1
3 SSA permits flexibility in amount of deposits 6 0 59 186 149 400 84% 13
4 Frequency of visit to bank or Post Office 0 6 69 198 127 400 81% 14
5 Transferability of SSA A/c to any place in India 0 0 52 177 171 400 87% 6
6 Tax benefits up to 1.5lakhs u/s 80 C 0 0 103 183 114 400 74% 19
7 Availability of Money for marriage at a future 0 0 61 152 187 400 85% 10
8 Improves gender equality 6 0 71 196 127 400 81% 17
9 Financial security for girl and parents 0 0 76 174 150 400 81% 16
10 Higher lock in period ie 21 years 0 0 54 185 161 400 87% 8
11 Fund transfer through online is not allowed 0 6 78 126 190 400 79% 18
12 Limits the number of account 6 9 60 235 90 400 81% 14
13 No clarity in future interest rate 0 6 42 202 150 400 88% 3
14 No link with insurance scheme 12 6 43 192 147 400 85% 10
15 Premature withdrawal weakens the scheme 12 0 100 149 139 400 72% 20
16 Not allowed to continue after marriage 6 0 43 227 124 400 88% 4
17 Not allowed to deposit lump sum amount in SSA 0 0 63 176 161 400 84% 12
18 Restriction on age limit for opening SSA A/c 6 6 37 201 150 400 88% 4
19 Investment motivation by the awareness of Govts. 0 0 59 164 177 400 85% 9
20 Services of agents in PO & Banks relating to SSA 12 16 141 186 45 400 58% 22
21 Procedure to open & maintaining account 0 0 30 240 130 400 93% 2
22 Services & facilities by bank /PO towards SSA 6 14 32 101 247 400 87% 6

(Sources: Primary Data)

139
FACTOR ANALYSIS:

Factor analysis can be applied in order to explore a content area, structure a

domain, map unknown concepts, classify or reduce data, illuminate causal nexuses,
screen or transform data, define relationships, test hypotheses, formulate theories,
control variables, or make inferences.
It is decided to find the most important factors contributing to the
satisfaction of SSS. Hence, factor analysis is employed.

FACTORS CONTRIBUTING TO THE SATISFACTION:

Factor analysis is used to find the most significant factors contributing to

the satisfaction of SSA. In this analysis, the explainable variables are condensed.
There are many factors influencing the satisfaction of SSA. There are 22 variables
contributing to the satisfaction. Taking all 22 variables for further analysis is not
necessary because respondents might have similar perception for one or two
variables. Factor analysis has reduced variables into 9 minimum manageable
number of variables. The variables are grouped by exploring common dimensions
available among the variables. Before using the factor analysis, it is very important
to test whether the factors are suitable for factor reduction. For this purpose, the
following two tests are used:

Table -6.23
KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .543

Bartlett's Test of Sphericity Approx. Chi-Square 2.202E3

Df 231

Sig. .000

Before going for factor analysis suitability of data for the purpose of factor
analysis has to be tested. KMO test and Bartlett‘s test are two such tests. Value of
KMO of 0.543 indicates that a factor analysis is useful for the present data.
Bartlett‘s test of Sphericity indicates whether the correlation matrix is an identity

140
matrix, which would indicate that the variables are unrelated. The significance
level gives the result of the test. Here, the significant value is 0.00, which indicates
existence of significant relationships among the variables. The resultant value of
KMO test and Bartlett‘s test indicate that the present data is useful for factor
analysis. The next step in the process is to decide about the number of factors to be
derived. The thumb rule is factors which are having ‗Eigen values‘ greater than
unity can be taken. An eigen value represents the amount of variance associated
with the factor. The number of factors extracted is determined at the cumulative
percentage of variance extracted by the factors reaches a satisfactory level. The
level of satisfaction depends upon the problem. However, the factor extraction
accounting for at least 60 percent of the variance is taken as the satisfaction level.
For the purpose of extraction Principal Component Analysis, method is used. The
Component matrix so formed is further rotated orthogonally using Varimax
rotation algorithm. The results so obtained are given in the tables separately along
with factor loadings.

Table 6.24
Total Variance Explained on Satisfaction
Total Variance Explained
Extraction Sums of Squared Rotation Sums of Squared
Initial Eigenvalues Loadings Loadings

% of Cumulative % of Cumulative % of Cumulative

Component Total Variance % Total Variance % Total Variance %

1 3.240 14.727 14.727 3.240 14.727 14.727 2.082 9.465 9.465

2 2.247 10.212 24.938 2.247 10.212 24.938 2.075 9.430 18.895

3 1.993 9.061 33.999 1.993 9.061 33.999 1.860 8.453 27.348

4 1.617 7.352 41.351 1.617 7.352 41.351 1.831 8.324 35.673

5 1.491 6.779 48.129 1.491 6.779 48.129 1.689 7.679 43.351

6 1.261 5.731 53.860 1.261 5.731 53.860 1.538 6.989 50.340

7 1.198 5.446 59.307 1.198 5.446 59.307 1.491 6.776 57.117

8 1.172 5.329 64.636 1.172 5.329 64.636 1.404 6.383 63.499

9 1.025 4.661 69.297 1.025 4.661 69.297 1.276 5.798 69.297

10 .914 4.153 73.450

141
 Total Variance Explained
Extraction Sums of Squared Rotation Sums of Squared
Initial Eigenvalues Loadings Loadings

% of Cumulative % of Cumulative % of Cumulative

Component Total Variance % Total Variance % Total Variance %

11 .797 3.621 77.071

12 .754 3.426 80.496

13 .662 3.010 83.506

14 .632 2.872 86.378

15 .557 2.533 88.910

16 .539 2.451 91.361

17 .444 2.020 93.381

18 .379 1.724 95.105

19 .341 1.551 96.656

20 .299 1.357 98.014

21 .234 1.066 99.080

22 .202 .920 100.000

Extraction Method: Principal

Component Analysis.

Out of the 22 statements, only 9 statements have Eigen values more than 1.
This means that these 9 statements can be used to explain maximum variance in the
variables. The total variance accounted by all the nine factors is 69.30 percent. This
means that significant amount of variance is explained by the reduced nine factors
alone. Therefore, it is better to take nine variables alone for further analysis.
Among the three factors, the first factor accounts for around 14.72 percent of
variance.

142
 Table -6.25
Rotated Component Matrix
Components
1 2 3 4 5 6 7 8 9
1 Not allowed to continue after marriage 0.828
2 SSA permits flexibility in amount of deposits 0.664
3 Services & facilities provided by bank or PO 0.541 0.312 0.303 0.368
4 Restriction on age limit for opening SSA A/c 0.392 0.740
5 Premature withdrawal weakens the scheme 0.656
6 Services of agents in PO & Banks 0.541
7 Frequency of visit to bank or Post Office 0.731
8 Limits the number of account 0.314 0.599
9 No clarity in future interest rate 0.378 0.453 -0.402
10 Not allowed to deposit lump sum amount 0.364 0.401
11 Interest rate on SSA 0.777
12 Improves gender equality 0.692 -0.426
13 SSA gives Strong financial protection 0.428 0.588 -0.363 -0.335
14 Investment motivation by govt. 0.782
15 No link with insurance scheme 0.401 0.652
16 Higher lock in period ie 21 years 0.329 -0.452 0.345
17 Availability of Money for girl child‘s marriage 0.860

143
 Components
1 2 3 4 5 6 7 8 9
18 Transferability of SSA A/c 0.755
19 On line Fund transfer not allowed 0.437 0.609 0.340 0.347
20 Financial security for girl and parents 0.302 0.482
21 Tax benefits up to 1.5lakhs u/s 80 C 0.927 0.837
22 Procedure to open & maintain a/c 0.446 0.339 -0.447
Eigenvalues 3.24 2.247 1.993 1.617 1.491 1.261 1.198 1.172 1.025
Percentage of variance 14.73 10.21 9.06 7.35 6.78 5.73 5.45 5.33 4.66

From the rotated component matrix it is clear that the first factor is having 7 statements, second factor is having 7 statements,
third factor is having 4 statements, fourth factor is having 4 statements, fifth factor is having 5 statements, sixth factor is having 5
statements ,seventh factor is having 4 statements, eighth factor is having 3 statements and ninth factor is having 2 statements .
Based on the statements included into the factors can be named. The reduced 9 factors can be shown below

144
 Table - 6.26
Factor Structure

FACTOR STRUCTURE –satisfaction of SSA

(0.1 cut off for significant Loading)

score
No. Influencing Factors Variables

Not allowed to continue after marriage 0.828

SSA permits flexibility in amount of deposits 0.664
Services & facilities provided by bank or PO 0.541

1 Governing Rules Restriction on age limit for opening SSA A/c 0.392
No clarity in future interest rate 0.378
Not allowed to deposit lump sum amount in 0.364
SSA
Procedure to open & maintain a/c 0.446
Services & facilities provided by bank or PO 0.312
Restriction on age limit for opening SSA A/c 0.740
Premature withdrawal weakens the scheme 0.656

2 Services & Services of agents in PO & Banks relating to 0.541

restrictions SSA
Limits the number of accounts 0.314
No link with insurance scheme 0.401
Fund transfer through online is not allowed 0.437
Frequency of visit to bank or Post Office 0.731
Limits the number of account 0.599
No clarity in future interest rate 0.453
3 Interest Clarity& Not allowed to deposit lump sum amount in
protection SSA 0.401
SSA gives Strong financial protection 0.428
Higher lock in period ie 21 years 0.329
Financial security for girl and parents 0.302

145
 Table -6.27
Factor Structure contd..

FACTOR STRUCTURE –satisfaction of SSA

(0.1 cut off for significant Loading)
Influencing
S.No. Variables score
Factors
Services & facilities provided by bank or PO 0.303
towards SSA
Service& Gender Interest rate on SSA 0.777
4.
Equality Improves gender equality 0.692
SSA gives Strong financial protection to 0.588
female child
Services & facilities provided by bank or PO 0.368
towards SSA

Features SSA gives Strong financial protection to -0.363

5. female child
Investment motivation due to awareness created 0.782
by central & state Govt.
No link with insurance scheme 0.652
Higher lock in period ie 21 years -0.452
No clarity in future interest rate -0.402
Improves gender equality -0.426
Marriage Money
6 Higher lock in period ie 21 years 0.345
Availability of Money for girl child‘s marriage 0.860
at a future period.
Procedure to open & maintain a/c 0.339
SSA gives Strong financial protection to -0.335
female child
Transferability Transferability of SSA A/c to any place in 0.755
7 India
Fund transfer through online is not allowed 0.609
Financial security for girl and parents 0.482
Fund transfer through online is not allowed 0.340
8 Tax benefit Tax benefits up to 1.5lakhs u/s 80 C 0.927
Procedure to open & maintain a/c -0.447

Fund transfer & tax Fund transfer through online is not allowed 0.347
9
benefit Tax benefits up to 1.5lakhs u/s 80 C 0.837

146
Interpretations:

1. Governing Rules
This is the first factor showing higher dominant variables in deciding the
satisfaction on SSA. It is observed that the loadings of the 7 variables listed in the
table are important. Among that the not allowed to continue, flexibility in deposits
are significantly influencing the satisfaction.

2. Services & restrictions

This is the Second factor showing higher dominant variables in deciding the
satisfaction on SSA. It is observed that the loadings of the 7 variables listed in the
table are important. Among that, restrictions on age limit, premature withdrawal
rule and services of agents are significantly influencing the satisfaction.

3. Interest clarity & Protection

This is the third factor showing higher dominant variables in deciding the
satisfaction on SSA. It is observed that the loadings of the 7 variables listed in the
table are important. Among that frequency of visit to bank & Post Office and limit
the number of accounts are significantly influencing the satisfaction.

4. Service & Gender Equality

This is the fourth factor showing higher dominant variables in deciding the
satisfaction on SSA. It is observed that the loadings of the 4 variables listed in the
table are important. Among that, interest rate on SSA, improves gender quality and
strong financial protection are significantly influencing the satisfaction.

5. Features
This is the fifth factor showing higher dominant variables in deciding the
satisfaction on SSA. It is observed that the loadings of the 5 variables listed in the
table are important. Among that, investment motivation by Government and No
link with insurance scheme are significantly influencing the satisfaction.

147
6. Marriage Money
This is the sixth factor showing higher dominant variables in deciding the
satisfaction on SSA. It is observed that the loadings of the 5 variables listed in the
table are important. Among the ways, availability of money for marriage and
higher lock in period are significantly influencing the satisfaction.

7. Transferability
This is the seventh factor showing higher dominant variables in deciding the
satisfaction on SSA. It is observed that the loadings of the 4 variables listed in the
table are important. Among that, transferability of SSA to any place in India on
line fund transfer not allowed and financial security are significantly influencing
the satisfaction.

8. Tax benefit
This is the eighth factor showing higher dominant variables in deciding the
satisfaction on SSA. It is observed that the loadings of the 3 variables listed in the
table are important. Among that, tax benefit up to 1.5 lakhs is significantly
influencing the satisfaction.

9. Fund transfer & tax benefit

This is the ninth factor showing higher dominant variables in deciding the
satisfaction on SSA. It is observed that the loadings of the 2 variables listed in the
table are important. The variables fund transfer online non allow ability and tax
benefit up to 1.5 lakhs are significantly influencing the satisfaction

Chi-square Goodness-of-fit Test :

The chi-square goodness-of-fit test is a single-sample nonparametric test
also referred to as the one-sample goodness-of-fit test or Pearson's chi-square
goodness-of-fit test. The difference between the observed and expected frequencies
is provided in the Residual column. Test Statistics provides the actual result of the
chi-square goodness-of-fit test. If the test statistic χ2, P value less than 0.0005, can
reject the null hypothesis and conclude that, there are statistically significant
differences in the variables. It is decided to use chi-square goodness of fit test to

148
identify the significant differences between observed and expected frequencies of
variables

Differences Among the Level of Satisfaction

There are 22 variables contributing to the level of satisfaction on SSA. 400
responndents responses over these variables may differ.To check the existence of
such differences among the level of satisfaction variables, chi-square goodness of
fitness test – a non aparmetric test has been used. Suitable hypothesis is framed to
test the same.

 Ho: There is no significant differences between the levels of satisfaction

on SSA related variables.
The result of the test is given in the following table:

Table -6.28
Chi-Square test Statistics
Chi- df Asymp.
Square Sig
1 Interest rate on SSA 257.78 3 0.00
SSA gives Strong financial protection to 156.10 2 0.00
2 female child
SSA permits flexibility in amount of 203.14 3 0.00
3 deposits
4 Frequency of visit to bank or Post Office 201.30 3 0.00
Transferability of SSA A/c to any place in 74.56 2 0.00
5 India
6 Tax benefits up to 1.5lakhs u/s 80 C 28.21 2 0.00
Availability of Money for girl child‘s 63.46 2 0.00
7 marriage at a future period.
8 Improves gender equality 196.22 3 0.00
9 Financial security for girl and parents 39.14 2 0.00
10 Higher lock in period ie 21 years 72.97 2 0.00
11 Fund transfer through online is not allowed 180.96 3 0.00

149
 Chi- df Asymp.
Square Sig
12 Limits the number of account 438.03 4 0.00
13 No clarity in future interest rate 251.04 3 0.00
14 No link with insurance scheme 356.28 4 0.00
15 Premature withdrawal weakens the scheme 116.66 3 0.00
16 Not allowed to continue after marriage 287.90 3 0.00
Not allowed to deposit lump sum amount 56.50 2 0.00
17 in SSA
Restriction on age limit for opening SSA 404.28 4 0.00
18 A/c
Investment motivation due to awareness 62.80 2 0.00
19 created by central & state govt.
Services of agents in PO & Banks relating 311.28 4 0.00
20 to SSA
21 Procedure to open & maintaining account 165.50 2 0.00
Services & facilities provided by bank or 505.83 4 0.00
22 PO towards SSA

Inference:
The above Test Statistics provides the actual result of the chi-square
goodness-of-fit test. one can see from this table that the test statistic is statistically
significant as the p < .05. Therefore, he can reject the null hypothesis and conclude
that there are statistically significant differences in the level of satisfaction of 22
variables. Each variables observed and expected values are shown in the table as
well as in the form of graph.

150
 Table - 6.29
Level of Satisfaction on SSA - Chi-Square Test

Interest rate Financial Protection

Highly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfied
Observed 8 0 136 213 43 0 0 16 201 183
Expected 100 0 100 100 100 0 0 133 133 133
Residual -92 0 36 113 -57 -14.7 4.3 6.3 -10.7 -11.7

Permits Flexibility Visit to Bank or Post Office

Highly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfied
Observed 6 0 59 186 149 0 6 69 198 127
Expected 100 0 100 100 100 0 100 100 100 100
Residual -94 0 -41 86 49 0 -94 -31 98 27

Transferability Tax Benefit

Highly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfied
Observed 0 0 52 177 171 0 0 103 183 114
Expected 0 0 133 133 133 0 0 133 133 133
Residual 0 0 -81 44 38 0 0 -30 50 -19

Availability of Money for Marriage Gender Equality

Highly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfied
Observed 0 0 61 152 187 6 0 71 196 127
Expected 0 0 133 133 133 100 0 100 100 100
Residual 0 0 -72 19 54 -94 0 -29 96 27

151
 Table - 6.30
Level of Satisfaction on SSA- Chi-Square Test Contd..

Financial Security Higher Lock in Period

Highly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfied
Observed 0 0 76 174 150 0 0 54 185 161
Expected 0 0 133 133 133 0 0 133 133 133
Residual 0 0 -57 41 17 0 0 -79 52 28

Fund Transfer not allowed Limits of no.of Account

Highly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfied
Observed 0 6 78 126 190 6 9 60 235 90
Expected 0 0 133 133 133 80 80 80 80 80
Residual 0 6 -55 -7 57 -74 -71 -20 155 10

No Calrity on Future Interest rate No Link with Insurance

Highly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfied
Observed 0 6 42 202 150 12 6 43 192 147
Expected 0 100 100 100 100 80 80 80 80 80
Residual 0 -94 -58 102 50 -68 -74 -37 112 67

Premature Withdrawal Not to continue after Marriage

Highly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied
DissatisfiedUndecidedSatisfied Highly satisfied
Observed 12 0 100 149 139 6 0 43 227 124
Expected 100 0 100 100 100 100 0 100 100 100
Residual -88 0 0 49 39 -94 0 -57 127 24

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 Table - 6.31
Level of Satisfaction on SSA - Chi-Square Test contd..

LumpSum Deposit Not Allowed Age Limit for Opening a/c

Highly dissatisfied DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied DissatisfiedUndecided Satisfied Highly satisfied
Observed 0 0 63 176 161 6 6 37 201 150
Expected 0 0 133 133 133 80 80 80 80 80
Residual 0 0 -70 43 28 -74 -74 -43 121 70

Motivation by Govt Services of Agents-bank/ Post Office

Highly dissatisfied DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied DissatisfiedUndecided Satisfied Highly satisfied
Observed 0 0 59 164 177 12 16 141 186 45
Expected 0 0 133 133 133 80 80 80 80 80
Residual 0 0 -74 31 44 -68 -64 61 106 -35

Procedure to Open & Maintain a/c Services faclities of bank/ Post Office
Highly dissatisfied DissatisfiedUndecidedSatisfied Highly satisfiedHighly dis satisfied DissatisfiedUndecided Satisfied Highly satisfied
Observed 0 0 30 240 130 6 14 32 101 247
Expected 0 0 133 133 133 80 80 80 80 80
Residual 0 0 -103 107 -3 -74 -66 -48 21 167

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CHI-SQUARE GOODNESS-OF-FIT TEST CHARTS

Chart No.6.8
Interest Rate on SSA

Chart No.6.9
SSA gives Strong financial protection to female child

154
 Chart No.6.10
SSA permits flexibility in amount of deposits

Chart No.6.11
Frequency of visit to bank or Post Office

155
 Chart No.6.12
Transferability of SSA A/c to any place in India

Chart No.6.13
Tax benefits up to 1.5lakhs u/s 80 C

156
 Chart No.6.14
Availability of Money for girl childs marriage at a future period

Chart No.6.15
Improves gender equality

157
 Chart No.6.16
Financial security for girl and parents

Chart No.6.17
Higher lock in period ie 21 years

158
 Chart No.6.18
Fund transfer through online is not allowed

Chart No.6.19
Limits the number of account

159
 Chart No.6.20
No clarity in future interest rate

Chart No.6.21
No link with insurance scheme

160
 Chart No.6.22
Premature withdrawal weakens the scheme

Chart No.6.23
Not allowed to continue after marriage

161
 Chart No.6.24
Not allowed to deposit lump sum amount in SSA

Chart No.6.25
Restriction on age limit for opening SSA A/c

162
 Chart No.6.26
Investment motivation due to awareness created by central & state
Govt.

Chart No.6.27
Services of agents in PO & Banks relating to SSA

163
 Chart No.6.28
Procedure to open & maintaining account

Chart No.6.29
Services & facilities provided by bank or PO towards SSA

164
METHOD OF WEIGHTED SCORES

Method of weighted scores is used to determine the aspects

opinion/activities/factors, which affect most significantly and least significantly the
variable under study. The method involves the following steps.
Step1:

Assign scores to the opinion of the respondents.

Step2:

Calculate the weighted score using the formula

∑wi xi

xw = ___ ∑wi

Where wi – number of respondents favouringith opinion .

xi – value of the score assigned to ith opinion.

Step3:

Rank the weighted score of the factors.

Step 4:

The factor with least rank is most significant and the factor with highest
rank is least significant with regard to the variable under study.

The respondents most significant and least significant satisfaction towards

SSA can be identified by using the method of weighted scores. In computing the
weighted scores, we assign the -2 ,-1 ,0, +1, +2 weights to the respondent‘s
opinion is assigned.

From the table, it is inferred that the top 5 satisfaction variables and bottom

5 satisfaction variables.

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 Table No.6.32
Weighted Score Ranks of Levels of Satisfactions on SSA
Highly Disstatis
Level of Satisfaction dissatis fied fied Undecided Statis fied Highly satisfied
Rank of
Weighted
No. Weights -2 -1 0 1 2 Total average Score
1 Services & facilities by bank /PO towards SSA -12 -14 0 101 494 569 1.423 1
2 SSA provides Strong financial protection 0 0 0 201 366 567 1.418 2
3 Availability of Money for marriage at a future 0 0 0 152 374 526 1.315 3
4 Transferability of SSA A/c to any place in India 0 0 0 177 342 519 1.298 4
5 Investment motivation by the awareness of Govts. 0 0 0 164 354 518 1.295 5
6 Higher lock in period ie 21 years 0 0 0 185 322 507 1.268 6
7 Fund transfer through online is not allowed 0 -6 0 126 380 500 1.250 7
8 Procedure to open & maintaining account 0 0 0 240 260 500 1.250 7
9 Not allowed to deposit lump sum amount in SSA 0 0 0 176 322 498 1.245 9
10 No clarity in future interest rate 0 -6 0 202 300 496 1.240 10
11 Restriction on age limit for opening SSA A/c -12 -6 0 201 300 483 1.208 11
12 Financial security for girl and parents 0 0 0 174 300 474 1.185 12
13 SSA permits flexibility in amount of deposits -12 0 0 186 298 472 1.180 13
14 Not allowed to continue after marriage -12 0 0 227 248 463 1.158 14
15 No link with insurance scheme -24 -6 0 192 294 456 1.140 15
16 Frequency of visit to bank or Post Office 0 -6 0 198 254 446 1.115 16
17 Improves gender equality -12 0 0 196 254 438 1.095 17
18 Tax benefits up to 1.5lakhs u/s 80 C 0 0 0 183 228 411 1.028 18
19 Premature withdrawal weakens the scheme -24 0 0 149 278 403 1.008 19
20 Limits the number of account -12 -9 0 235 180 394 0.985 20
21 Interest rate on SSA -16 0 0 213 86 283 0.708 21
22 Services of agents in PO & Banks relating to SSA -24 -16 0 186 90 236 0.590 22

166
 Inference:
Weighted score method ranking have been used to identify the most
satisfaction giving variable and least satisfaction giving variables. Top 5 and
bottom 5 ranks are given below:

The top 5 most satisfaction giving variables are:

No. Satisfaction of SSA Rank

1)
Services & facilities by bank /PO towards SSA 1
2) SSA provides Strong financial protection 2

3) Availability of Money for marriage at a future 3

4) Transferability of SSA A/c to any place in India 4

5) Investment motivation by the awareness of Govt. 5

The Bottom 5 Least satisfaction giving variables are:

No. Satisfaction of SSA Rank

1)
Tax benefits up to 1.5lakhs u/s 80 C 18
2) Premature withdrawal weakens the scheme 19

3) Limits the number of account 20

4) Interest rate on SSA 21

5) Services of agents in PO & Banks relating to SSA 22

The above study shows that services of institutions, financial protection,

money for the future, transferability and motivation by the government have given
greater satisfaction on the SSA.

167
Section Summary

From the 400 responses over the rural investors‘ perception towards SSA in
respect of NRGEA workers in Dharmapuri district, various types of statistical
analysis have been made to fulfill the objectives of the study. Demographic
variables show that majority of the respondents belong to the age group of 18years
-35 years, educational qualification is HSC, workers in NRGEA and their monthly
investment in SSA falls between Rs.500-Rs.1,000. Most of prefer bank for opening
and maintaining SSA‘s. NRGEA workers, Governments and other agencies
through meetings have created awareness on SSA. Chi-square test shows that there
is significant association between awareness and certain demographic variables and
perception variables except four variables; Principal component analysis has given
only 9 condensed satisfaction variables to study about the satisfaction on SSA.
Artificial Neural network analysis used 30 perception variables to predict the
quantum of investment in SSA. The correctness of predictions is at about 65.3
percent. Chi-Square fitness of fit indicated that there are significant differences
among the variables in level of satisfaction. Weighted score method also identifies
the top 5 and bottom 5 satisfaction variables.

168