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MICROFINANCE

` Microfinance is defined as any activity͙


that includes the provision of financial services such as
credit, savings, and insurance to low income individuals
which fall just above the nationally defined poverty line,
and poor individuals which fall below that poverty line,
with the goal of creating social value.

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The four general categories of micro finance
providers are
nformal Member - Formal
Os
Financial Owned Financial

Moneylenders roup of
Members MF nstitution
Êawnbrokers Êoor people

Flexibility High Highest Moderate owest

nfluence by xternal Highest


Drawback ostly & isky
one Donators ost

Os, rameen
xample:-  s DB
s Bank, 

Jcenario of Micro Finance in India
` India͛s population is more than 1000 million, around 350 million,
are living below the poverty.

` Only 20% access loan from the formal sources and   
informal sources.

` Out of that 20%, only 10% have access to Micro finance!

` Annual credit demand by the poor is estimated to be about Rs


60,000 cr. And only 12,000 cr are disbursed. (Apr 09)

` Customers of Micro Finance are ͞Jmall and marginal farmers", "


rural artisans" and "economically weaker sections͞

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Features of Indian Micro Finance
` About 60 % of the MFIs are registered as societies.

` About 20 % are Trusts

` About 65 % of the MFIs follow the operating model of J s.

` Large concentration in Jouth India

` 600 MFI initiatives have a cumulative outreach of 1.25 crore poor


hoseholds

` NABARD͛s bank linkage program has cumulatively reached a total


of 9.4 lakh J s with about 1.4 crore households.
-
The poor use finance for growth and survival

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ence the need for local intermediaries

` Local organizations have:


Local knowledge, therefore can help reduce information
asymmetries
ave less expensive operations, can therefore help reduce
transaction costs.

` But local organizations don͛t have capital

` Banks have capital, but donot have this local knowledge

` Both should join hands!


Banks have entered the field of microfinance in
three ways
` Microfinance programs or NOs have transformed into
banks

` Microfinance practitioners have created banks and


specialized microfinance banks

` Commercial banks have expanded their business to


reach out to the poorer groups

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Models of Microfinance

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