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Kumar, Dhirendra
- Institutional Analysis of Microfinance Institutions (MFIs):Status and Measures for Wider and Effective Outreach
Abstract Views :276 |
PDF Views:0
Authors
Affiliations
1 Centre for Research on Financial Inclusion and Microfinance (CRFIM), IN
2 Bankers Institute of Rural Development, Lucknow, IN
1 Centre for Research on Financial Inclusion and Microfinance (CRFIM), IN
2 Bankers Institute of Rural Development, Lucknow, IN
Source
The Microfinance Review, Vol 8, No 2 (2016), Pagination: 16-33Abstract
The Indian microfinance sector is witnessing a period of high growth phase. With increased capital inflows and easy availability of loans from banks, MFIs may be under pressure to perform better. This opens up the debate on whether the growth in the sector is sustainable or is it just a signal of the crisis like the one happened in 2010. This paper examines some of the pertinent issues related to the high growth, namely, regional concentration, robustness of credit appraisal, drivers of growth, mission drift, profitability, product and process innovations and responsible financing. Using regression analysis on the data available since 1996 with Microfinance Information Exchange (MIX), the paper also analyses the determinants of the profitability and efficiency of Indian MFIs. On the basis of the findings, the paper makes suitable suggestions for the wider and effective outreach of the Indian MFIs.
Keywords
Microfinance, Microfinance Institutions (MFIs), Outreach, Regional Concentration, Portfolio Quality, Drivers of Growth, Responsible Financing.
References
- Champatiray A K, Agarwal P and Sadhu S (2010): “Map of Microfinance Distribution in India”, IFMR Centre for Microfinance: Chennai.
- Chen, Greg, S Rasmussen and X Reille (2010): “Growth and Vulnerabilities in Microfinance”, Focus Note No. 61, Washington DC: CGAP.
- Grameen Foundation India (GFI) (2015): “Microfinance Poverty Outreach in PSIG States”, at http://www.grameenfoundation.in (accessed on 6 September 2016)
- India Ratings & Research (2015): “Microfinance: Strong Comeback”, at https://www.indiaratings.co.in (accessed on 21 August 2016)
- MicroSave (2015): “Code of Conduct Assessment for Microfinance Sector”, at http:// www.microsave.net (accessed on 3 September 2016).
- M-CRIL (2015): “The M-CRIL Microfinance Review 2014: Risk, Regulation and Reward”, http://www.mcril.com (accessed on 2 September 2016).
- Misra A (2016): Responsible Finance India Report 2015, Access Development Services, New Delhi.
- Religare Capital Markets (2015): “India Microfinance: Crisis Brewing”, at http://research.religarecm.com (accessed on 23 August 2016).
- Reserve Bank of India (2015): “Non-Banking Finance Company – Microfinance Institutions”, Master Circular (NBFC-MFIs) – Directions – Modifications, Department of Non-Banking Supervision at https://rbi.org.in (accessed on 27 August 2016).
- Sa-Dhan (2016): The Bharat Microfinance Report 2016, New Delhi.
- - (2015): “Code of Conduct for the Microfinance Industry”, MFIN: Gurgaon.
- Sriram M S (2015): Inclusive Finance India Report 2015, Access Development Services, New Delhi.
- https://www.crisil.com/pdf/corporate/CRISIL-Inclusix-Volume-III.pdf
- https://www.themix.org (accessed on 15 February 2016)
- SHG Member as Business Correspondents:Issues and Modalities in Post PMJDY Scenario
Abstract Views :205 |
PDF Views:2
Authors
Affiliations
1 CRFIM, BIRD, Lucknow, IN
2 CRFIM – BIRD, Lucknow, IN
3 BIRD, Lucknow, IN
1 CRFIM, BIRD, Lucknow, IN
2 CRFIM – BIRD, Lucknow, IN
3 BIRD, Lucknow, IN
Source
The Microfinance Review, Vol 9, No 1 (2017), Pagination: 53-66Abstract
India made several efforts towards achieving financial inclusion in order to increase the reach of banking services to every nook and corner of the country. Introduction of Business Correspondents (BC) in 2006 and the introduction of Self-Help Group (SHG) members as BC (SHG-BC) in 2012 is another milestone in this direction. Centre for Research in Financial Inclusion and Microfinance (CRFIM) conducted a study to examine the financial viability of the SHG-BC model. It also examined the issues and modalities required for the proper functioning of SHG member as BC. It attempted to understand the policy and implementation requisites for improving the business prospects of BCs.
The SHG-BC approach is comparatively new and adopted by a limited number of Regional Rural Banks (RRBs). Banks engaging BCs may, therefore, need to work out a viable business model for BCs and integrate it with their overall business policies. This will not only help improve the banking business, but also extend the banking facilities to the poorest of the poor through the SHG movement.
Keywords
Business Correspondents, Self-Help Groups.References
- Beck, T, A Demirguc-Kunt and P Honohan (2009): “Access to Financial Services: Measurement, Impact, and Policies”, The World Bank Research Observer, Vol 24, No 1, pp 119-145.
- Khan, H R (2012): “Issues and Challenges in Financial Inclusion: Policies, Partnerships, Processes & Products”, Keynote address on “Financial inclusion in Indian Economy” organised by the Indian Institute of Public Administration, Bhubaneswar.
- Molyneux, Philip (2007): “Specific Economic Gains” in Luisa Anderloni, Maria Debora Braga and Emanuele Maria Carluccio (ed.), New Frontiers in Banking Services, Springer, Heidelberg.
- Reserve Bank of India (2015), Report of the Committee on Medium-term Path on Financial Inclusion, RBI, Mumbai.
- Sharma, Manoj, Anurodh Giri and Sakshi Chadha (2016): Pradhan Mantri Jan Dhan Yojana (PMJDY), Wave III Assessment – Micro Save, 2016.
- Digitisation of Financial Services and Financial Inclusion
Abstract Views :130 |
PDF Views:0
Authors
Affiliations
1 Former General Manager, Bihar Regional Office NABARD, Patna, Bihar, IN
1 Former General Manager, Bihar Regional Office NABARD, Patna, Bihar, IN
Source
The Microfinance Review, Vol 13, No 1 (2021), Pagination: 35-41Abstract
Financial inclusion broadly refers to making available financial services (savings, credit, remittance, insurance and pension) to the people conveniently and at affordable cost. Since 2008, when the Government of India accepted the recommendations of Rangarajan Committee, the efforts for financial inclusion have gathered momentum. The momentum got further accelerated with launching of Pradhan Mantri Jan Dhan Yojana in 2014 followed by adoption of JAM trinity for direct benefit transfer schemes of the Government of India. The country is also a front runner in the number of digital payments and settlements transactions in the world. However, there is a clear divide between urban and rural users in utilising the innovations in the financial system, especially those related to digitisation. Digitisation, which is seen as a boon in urban areas, fails to catch the imagination of rural masses for whom, availing of basic financial services still remains a major challenge. The increasing number of cyber frauds, especially on the rural populace has dampened the enthusiasm of the people for inclusion in the financial ecosystem and they are being pushed back to the informal financial system. This article is an attempt to identify these challenges and to suggest a way forward so as to make the financial inclusion efforts more holistic.Keywords
Financial Inclusion, DigitisationReferences
- Committee on Financial Inclusion constituted by Government of India under the Chairmanship of C Rangarajan, 2008 sourced from https://www.rbi.org.in/scripts/ PublicationsView. aspx?id=10494.
- A Hundred Small Steps: Report of the Committee on Financial Sector Reforms by Raghuram Rajan 2008, Sage Publications, New Delhi.
- Pradhan Mantri Jan Dhan Yojana (PMJDY) sourced from www.pmjdy.gov.in
- Global Findex Database 2017 – Measuring Financial Inclusion and the Fintech Revolution – World Bank Group.
- Performance of Pradhan Mantri Jan Dhan Yojana (PMJDY) sourced from www.pmjdy.gov.in
- Sourced from www.Jansuraksha.gov.in/performance.aspx
- The Print dated 14th April 2020.
- RBI Bulletin on Payment and Settlement System, June 2020.
- Sourced from https://www.livemint.com/news/india/upi-transactions-hit-all-timehighin-june-touch-rs-2-62-lakh-crore-11593646847467.html Live Mint dated 2 July 2020.
- Sourced from https://www.thehindubusinessline.com/money-and-banking/bharatbillpayregisters-growth-in-transactions-in-march/article31227369.ece HBL dated 1 April 2020.
- Sourced from https://yourstory.com/2020/07/paytm-insurance-buy-raheja-qbetowards-digital-fintech-inclusion-goal
- Times of India 8th July 2020.
- RBI Annual Report 2018-19.
- Sourced from https://www.livemint.com/industry/banking/why-number-of-atmsis-going-down-in-india-1557888582791.html Live Mint dated 15 May 2020.
- Sourced from https://timesofindia.indiatimes.com/city/patna/cyber-frauds-rentjan-dhan-accounts-to-dupepeople/articleshow/76652255.cms TOI dated 27 June 2020.
- Outlook Money dated 8 April 2020.
- Strategies for Mainstreaming Financial Technologies by Rural Financial Institutions (RFIs) and Micro Finance Institutions (MFIs) with Special Reference to Cooperative Banks
Abstract Views :195 |
PDF Views:0
Authors
Affiliations
1 Former General Manager, NABARD, IN
1 Former General Manager, NABARD, IN
Source
The Microfinance Review, Vol 13, No 2 (2021), Pagination: 65-73Abstract
Application of financial technologies (fintech) has emerged as the biggest innovation in financial landscape including banking. It has changed the way the banking was done all these years. Interestingly, this innovation has immensely benefitted both the industry and customers alike, besides helping to achieve the avowed objective of financial inclusion. Rural financial institutions (RFIs) and a few small sized microfinance institutions (MFIs) have been comparatively slower in mainstreaming fintech in their operations, which had an adverse impact on their business and also posed various operational and regulatory challenges to them. It is high time that a fresh look is taken on their existing use of technology, and a comprehensive plan with specific deliverables is prepared by them for adoption of financial technology.Keywords
Microfinance Institutions, FintechReferences
- Financial Stability Board (2019): FinTech and Market Structure in Financial Services: Market Developments and Potential Financial Stability Implications, Accessed at https://www.fsb.org/wp-content/uploads/P140219.pdf
- Government of India (1991): Report of the Committee on the Financial System (Chairman: Shri. M. Narasimham), RBI, Bombay.
- National Bank for Agriculture and Rural Development (2021): Annual Report 2020-21, NABARD, Mumbai.
- Reserve Bank of India (2017): Report of the Working Group on FinTech and Digital Banking, RBI, Mumbai. Accessed from https://rbidocs.rbi.org.in
- The Economic Times (2022): “RBI to Set Up New Fintech Department to Push Innovation”, The Economic Times, January 9.