10th Edition of Microfinance India Summit 2013 Successfully Concluded with

Microfinance India Summit 2013
Thursday, December 12, 2013 10:00 AM IST (04:30 AM GMT)
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10th Edition of Microfinance India Summit 2013 Successfully Concluded with “600 Participating Delegates” from across the Globe

New Delhi, Delhi, India, Thursday, December 12, 2013 — (Business Wire India) — The Annual Microfinance India Summit 2013 drew to a successful conclusion. The two days summit saw galaxy of speakers from across the financial sector. This year’s summit saw over 600 participating delegates from across the country and abroad who attended the sessions. The summit was co-organised by ACCESS-ASSIST & ACCESS Development Services at Hotel Ashok, New Delhi. There were sector experts, policy makers, practitioners, researchers and journalists from across the industry under to discuss the key constraints, and build strategies for the sector’s growth and expansion.

The summit was inaugurated by Mr. Arvind Kumar, Joint Secretary, Department of Financial Services, Govt. of India saw leaders from across the finance sector that come together to discuss the various trends and challenges faced by the microfinance providers. Mr. Arvind Kumar also release of Microfinance State of the Sector Report and Social Performance Report 2013. The in-depth, well-researched reports collated the latest data and trends on financial inclusion, highlighting current challenges and innovations, and showcase present perspectives and opinions within the sector.

Mr. Arvind Kumar, Joint Secretary, Department of Financial Services, Govt. of India, stated “Government supports microfinance with its loan scheme in almost 18,000 regional rural banks and groups of cooperative banks (about 160 cooperative banks) through Skill development loans, housing loans and credit guarantee loans it is importance for the financial institutes to find combination of cost of interest to borrower and their banking cost.”

The first day of the session was on implementations and initiative for SHG and presenting financial vision 2020 where the efforts were made to explore options of advancing financial inclusion with identifying the bottlenecks that remain in the system. The second day was dominated by Management practices required in the sector with a focus on Small Finance Banks & institutes. It included motivating Sessions on Housing Microfinance as potential product offering was presented that was backed up with a report on “Housing Microfinance in India” by ASSIST. The last session of the day was headed by Mr. P Vijay Bhaskar, Executive Director, RBI discussing significance of establishing ‘small financial bank along the commercial banks.

Mr. P Vijay Bhaskar, Executive Director, RBI, said “The financial institutes can extend its reach only by providing proper services along with working on core products for its customer. There is a variance among the commercial establishment and the requirements of rural India. This arising need for Small Financial setups in country and RBI is taking steps in this direction”.

5th Microfinance India Awards were also conferred in the summit to recognise the continued efforts and commitment of institutions and individuals across channels. A special reflective publication “Microfinance India: Crests and Troughs” brought out by ACCESS was also released by Mr. Arvind Kumar.

The recipients of the 2013 Awards went to six remarkable institutions and two illustrious individual for their outstanding contribution to the growth of microfinance sector in India.

— PRADAN won Self Help Group Promoting Institution Awards.

— Janalakhmi Financial Services Pvt Ltd. won the prestigious Microfinance organization of the year Award (Large Category)

— Microfinance organization of the year Award (Medium Category) was won by Sanghamithra rural Financial Services

— Mr. Brij Mohan was recognised with Microfinance India Contribution award in Individual category

— Pratigya Samanvit Vikas Sakh Sahakrita Maryadit won Community based microfinance organisation of the year Award

— Micro-credit ratings International Ltd. was presented with Enabling Institution contributing in Microfinance award

— Sahayog Microfinance Ltd won award in Small & Emerging Microfinance organisation category

— Jury Special award was presented to Prof. Malcolm Harper

The final day of the 10th Microfinance India Summit 2013 concluded with Valedictory session with special guest Mr. Arvind Mayaram, Secretary, Dept of Economic Affairs, Ministry of Finance, Govt. Of India at the occasion of completion of the 10th Microfinance India Summit.

Mr. Arvind Mayaram Secretary, Dept of Economic Affairs, Ministry of Finance, Govt. Of India at the Microfinance India Summit 2013, said, “Microfinance industry needs to understand the need for 5 year planning. It is mandatory to reach to the grass-root level in order to accomplish goals of providing financial services to the rural population. Distressed women can act as the strength of Microfinance as they are more credible and bankable.” At the Microfinance Summit India 2013, he further stated, “Microfinance will exist even till 2030 though will require strategic financial structural approach to actualise the target as the thrift runs in the Indian culture, it will continue in future as well.”

About ACCESS Development Services: ACCESS is a not-for-profit company whose overall aim is to promote sustainable and innovative livelihoods promotion models to improve the economic well being of primary producers. ACCESS works to build inclusive value chains that enable greater accrual of benefits for the producers. The ACCESS programmes on the ground largely focus on enhancing productivity of small and marginal farmers. ACCESS also provides technical support services to large poverty reduction programmes and a few of its initiatives seek to influence, inform and support pro-poor policy. ACCESS operates in nine states of the country.

About ACCESS-ASSIST: ACCESS-ASSIST (ASSIST) is a specialized affiliate of ACCESS Development Services. ASSIST took over the microfinance portfolio at ACCESS in 2009 with a mandate to engage stakeholders across the financial value chain in creating responsible financial services for the poor. ASSIST focuses on sector building activities with a three-tier strategy: 1) incubating and scaling-up the capacities of fledgling community-based microfinance organizations; 2) catalyzing the supply side flow of capital for the poor by strengthening institutions through advisory and technical services; and 3) supporting an enabling environment for financial inclusion through the Microfinance India platform.

Vishal Shukla, +91 7838829456, vishal.chavipr@gmail.com