The present study attempts to analyse the impact of microfinance schemes on the living standards of female beneficiaries in selected districts of Haryana. Primary data have been collected through pre- structured questionnaire for this study. A sample of 200 female beneficiaries have been taken from four districts of the state Sirsa (50), Kaithal (50), Rohtak (50) and Gurgaon (50) of Haryana on the basis of judgment sampling. The collected data were analyzed with the help of Kruskal Wallis H-Test and ranking method. The findings indicate that improved access to banking institutions is placed at the top, followed by opportunities for acquiring new skills; better employment opportunities; improves decision making power; better life style of the family; improved asset possession of household like T.V, home computers, refrigerator etc.; more expenditure on the education of their children; increased per capita income etc. Statistically, the results of Kruskal Wallis H-test shows that there is significant difference in district wise female respondents’ perception towards more expenditure on the education of their children (p=0.031); better employment opportunities; improved access to banking institutions (p=0.000) and improves decision making power (p=0.018), therefore the null hypothesis (H10) is rejected. On the basis of study, it is suggested that the promoter and donor must come forward to provide skill development and training to the female members. Constant monitoring and collection of feedback from member SHGs is quite necessary therefore, the government should take necessary steps regarding the same.