Microfinance India is a
national advocacy platform, initiated by ACCESS Development Services, to engage various stakeholders and develop a
comprehensive vision for the entire sector. Indian microfinance remains a diverse and complex arena with its array
of products and methodologies. Microfinance India seeks to promote the distinct voices of those associated with the
field - policy makers, donors, academics, SHPI's, and on the ground practitioners. In the past five years, the
sector has matured and expanded its ambit of stakeholders - attracting new entrants such as rating agencies and
social equity investors. Cumulatively, these new players, their financial instruments, delivery models, and
technology platforms - emphasise the need for an expanded understanding of the arena and all its associated
contributors.
Having evolved first under the aegis of CARE, and now as ACCESS, microfinance India has become the most significant platform for the future visioning of India's microfinance sector.
Parallel events and initiatives this year include the HSBC - ACCESS Microfinance India Awards, Ode to Earth, the Thematic Retreats, the State Visioning for Microfinance, the State of the Sector Report and the SOIL Report.
Policy Retreats
Another significant sub-initiative of ACCESS Microfinance India is to organize thematic policy retreats. Based on debates in the Microfinance India Summit, a few policy retreats are organized each year.
A small group of policy makers and thought leaders dwell on one specific theme in these retreats. In 2006, Livelihoods Finance was taken up in response to the phenomenon of the inability of microcredit programmes to provide adequate finance to support the livelihoods of the poor.
In 2007, in association with UNDP, a policy retreat was organized on the challenges of expanding the outreach of microinsurance. A similar round table to sensitize the members of National Advisory Council was organized. In 2008, 3 thematic / policy retreats were organised in collaboration with different stakeholders. A policy retreat on financial inclusion was organised in association with UNDP and CMF which was chaired by Dr. C Rangarajan, who chaired the Government's Committee Report on Financial Inclusion. Second policy retreat was organized on role of private & multinational banks in microfinance in collaboration with College of Agricultural Banking (CAB), Pune and a thematic retreat to encourage young researchers to take up action research was organised in association with Ford Foundation and CMF.
State Visioning for Microfinance
To address the issue of national economic disparity and regional skew, mF India has created its State Visioning. To date, much of India's microfinance movement has grown largely in the southern states. Thirteen priority states which account for 67% of the poor remain fairly underserved.
The State Visioning initiative identifies one or two states in the outlined underserved regions and attempts to bring together all stakeholders to help create a united vision for the area. This initiative takes stock of financial, human and institutional resources required to support the sector in the state and identifies gaps in the sector, enabling greater clarity for the roles and responsibilities of different stakeholders. The Vision Document produced per this intiative, helps establish benchmarks and indices reflecting and comparing growth in various regions, over time.
In 2005, the State Visioning was for Orissa and the vision document was released at the mF India Summit by the Chief Minister. The State identified for 2007 was Madhya Pradesh, and for 2008 the document focused on the state of Bihar.
State of the Sector Report
To better chronicle the experiences and developments of India's microfinancial sector year over, the Microfinance India platform has initiated its annual "State of the Sector Report".
Given the diversity of models and methodologies, this initiative supports an in-depth, well-researched and well-analysized document that cohesively traces the state of the sector year to year. The report intends to highlight and present perspectives on current issues and document new interest, investments and innovations in the sector. It also identifies existing knowledge gaps that require further research, statistical efforts, and empirical backing. In the past three years the State of the Sector has been considered one of the most useful reference document for microfinance India both within and outside the country. The report has been among the five most downloaded sector documents worldwide as per CGAP Microfinance Gateway.
Microfinance India Awards
The Awards, to be presented every year at the Microfinance India Summit, are sponsored by the Hongkong and Shanghai
Banking Corporation and instituted by ACCESS Development Services.
The inspiration behind the Microfinance India Awards is to recognize the contribution of notable thought leaders,
policy makers, promoters and institutions which help translate the vision of reaching the poorest in a sustainable
manner into reality. In 2009, two nomination categories were instituted: Institution of the Year and Contribution to
the Sector.
The Institution of the Year award seeks to recognise pioneering thought or product leadership or best practices followed by an institution. Representative parameters for growth achieved, potential to upscale operations and process/product/technological innovation towards achieving financial inclusion are some of the important considerations. In 2009, the winner was Bandhan Financial Services Pvt Ltd.
The Contribution to the Sector award is a long-term achievement award to honour significant contribution of an individual to issues in the microfinance sector. This Award recognises the dedication of the professional to the sector over and above the immediate sphere of his / her organisation through active involvement in influencing policy interventions and sector building efforts. In 2009, the winner was Vijay Mahajan.
In the future, additional categories will be designed to give greater attention to the microfinance sector’s diversity.
Visit the Microfinance India Summit website.