Financial Awareness Scoping Initiative Study for IFC and GIZ

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Financial Awareness Scoping Initiative Study for IFC and GIZ Financial Awareness Scoping Initiative Study for IFC and GIZ Part 2 Inventory of financial education initiatives covered by this study Micro-Credit Ratings International Limited August 2012 Part 2: Table of Contents Chapter Page Abbreviations ii 2-1 Indian Financial Education Initiatives – indexed 1 2-1.1 Mapping initiatives by institutional type 3 2-1.2 Mapping initiatives by intent 4 2-1.3 outreach 5 2-1.4 target segment 7 2-1.5 topic 10 2-1.6 method 12 2-1.7 funding sources 15 2-2 Indian Initiatives – description 17 – description of 63 initiatives in alphabetical order 2-3 International Initiatives – indexed 93 2-3.1 Mapping initiatives by institutional type 95 2-3.2 Mapping initiatives by intent 96 2-3.3 outreach 97 2-3.4 target segment 104 2-3.5 topic 106 2-3.6 method 109 2-3.7 funding sources 111 2-4 International Initiatives of relevance to India - description 112 2-4.1 Initiatives most relevant to the Indian context 112 2-4.2 Initiatives moderately relevant to the Indian context 123 2-4.3 Initiatives slightly relevant to the Indian context 139 Annex South Africa & India: Diversity to convergence 144 People Interviewed 146 Bibliography 147 Abbreviations ADS Area Development Services AKF Aga Khan Foundation AKRSP Aga Khan Rural Support Programme AMFIU Association of Microfinance Institutions of Uganda AP Andhra Pradesh APMAS Andhra Pradesh MahilaAbhivruddhi Society ASIC Australian Securities and Investments Commission BC Business Correspondents BF Business Facilitator BRAC Bangladesh Rehabilitation Assistance Committee CAIIB Certified Associate of Indian Institute of Bankers CBO Community Based Organization CBSG Community Based Savings Group CCFL City Centre for Financial Literacy CDS Community Development Services CEO Chief Executive Officer CEP Consumer Education Program CF Community Facilitator CGT Compulsory Group Training CPFB Central Provident Fund Board CRECER Crédito con Educación Rural CRP Community Resource Persons CSP Customer Service Point CSR Corporate Social Responsibility CYSD Centre for Youth and Social Development DCCB District Central Cooperative Banks DFID Department for International Development DLT District Level Trainer DVD Digital Versatile Disk ELA Empowerment and Livelihood for Adolescents FAS Financial Advisory Services FAS Faulu Advisory Services FCAC Financial Consumer Agency of Canada FEF Financial Education Fund FGD Focus Group Discussion FID Financial Inclusion Department FINCA Foundation for International Community Assistance FinLit Financial Literacy Foundation FICCI Federation of Indian Chambers of Commerce and Industry FINO Financial Information Network and Operations FKDTM Faulu Kenya Deposit Taking Microfinance Institution FLAME Financial Literacy Agenda for Mass Empowerment FLCC Financial Literacy and Counselling Centre FLIP Financial literacy initiative in Pakistan FSPL Financial Services Private Limited FTC Farmer Training Centre FWWB Friends of Women World Banking GFSPL Grameen Financial Services Private Limited GIZ- German International Cooperation Micro-insurance Innovations Program for Social Security MIPSS GTZ GesellschaftfürTechnischeZusammenarbeit ii | P a g e ICT Information Communication and Technology IDF Initiatives for Development Foundation IEC Information Education and Communication IFC International Finance Corporation IFMR Institute of Financial Management and Research IIBF Indian Institute of Banking and Finance IIMPS Invest India Micro Pension Services IKEA Ingvar KampradElmtarydAgunnaryd ILFS Infrastructure Leasing and Financial Services INFE International Network on Financial Education ISMW Indian School of Microfinance for Women JA Junior Achievement JAIIB Junior Associate of Indian Institute of Bankers JFS Janalakshmi Financial Services JLG Joint Liability Group JSS Janalakshmi Social Services KES Kenyan Shilling KfW KreditanstaltFürWiederaufbau (German Development Bank) KVK KrishiVigyanKendras KYC Know Your Customer LIC Life Insurance Corporation MBE Micro Business Education M-CRIL Micro Credit Ratings International Limited MEA Mongolian Education Alliance MFI Microfinance Institution MFO Microfinance Opportunities MIA Micro Insurance Academy MIS Management Information System MIX Microfinance Information Exchange MMFL Madura Microfinance Limited MSDF Michael & Susan Dell Foundation NABARD National Board for Agriculture and Rural Development NAFiL National Alliance on Financial Literacy NAIP National Agriculture Innovation Project NBFC Non Banking Financial Corporation NCR National Capital Region NGO Non Government Organization NHG Neighbourhood Group NPS New Pension Scheme OECD Organization for Economic Cooperation and Development OeNB Oesterreichische National Bank OIBM Opportunity International Bank of Malawi PACS Primary Agricultural Credit Societies PAN Permanent Account Number PFRDA Pension Fund Regulatory and Development Authority RBI Reserve Bank of India RGVN RashtriyaGraminVikasNidhi RRB Regional Rural Bank RSBY RashtriyaSwasthyaBimaYojana SACCO Savings and Credit Cooperative SAFE South Asian Federation of Exchanges SAIA South African Insurance Association SBLP SHG Bank Linkage Programme SCRIPT Savings Credit Remittances Insurance Pension and Technology SEBI Securities and Exchange Board of India iii | P a g e SED Socio Economic Development SEEDS Sarvodaya Economic Enterprise Development Services SEEP Small Enterprise Education and Promotion (Network) SEWA Self Employed Women's Association SFA SwadhaarFinAccess SFPL Swadhaar Financial Services Private Limited SFPL Saija Finance Private Limited SHG Self Help Group SHPI Self Help Group Promoting Institution SIDBI Small Industries Development Bank of India SLT State Level Trainer SME Small and Medium Enterprise SOFEA Social and Financial Empowerment of Adolescents SPEED Support Programme for Enterprise Empowerment and Development StCB State Cooperative Banks ToT Training of Trainers TTM Trans Theoretical Model UNCDF United Nations Capital Development Fund UN DESA United Nations Department of Economic and Social Affairs UNDP United Nations Development Programme USAID United States Agency for International Development UTI Unit Trust of India UTI AMC Unit Trust of India - Asset Management Company VFS Village Financial Services VOL Voyage of Life VWS Village welfare Society iv | P a g e 2-1 Indian financial education initiatives - Indexed The following is the indexing scheme for Indian Financial Literacy Initiatives studied and described in this part of the report. The initiatives are mapped by… 2-1.1 Institutional type Type Definition An institution which provides technical services for financial education Technical provider initiatives (may or may not be fee based) Government agency Government-funded agency or programme undertaking financial education or programme initiatives exclusively or along with other activities Non-Government Organization undertaking financial education activities NGO on a not-for-profit basis RBI, NABARD and SEBI in their capacity as financial sector regulators and Regulatory Agency broad policy makers Bank Commercial bank or Regional Rural Bank (RRB) Banking Correspondent Banking Correspondent/Business Facilitator National Stock Exchange and Bombay Stock Exchange and their affiliate Stock Exchange institutions Share Trading Share trading and broking companies offering investment services through Platform online platforms MFI /MFI Group Microfinance institution or sister company of an MFI formed for various Company purposes including credit-plus activities Financial Services A non-microfinance NBFC or other financial service provider, not a banking Provider entity Provides financial advice such as debt management, financial planning as Financial Advisory its main activity (not an add on activity like investor guidelines provided by Services Provider broking firms) 2-1.2 Intent behind Financial Education Programmes Term Definition Free Technical Technical assistance provided free of cost – sharing of modules, materials, Assistance purely for improving financial literacy in the sector Fee based Technical Assistance Fee based technical assistance – sale of modules, materials, etc Developing a particular product or service in the financial sector – in this Sector Development context microinsurance and micro-pensions Own Business Undertaking financial education with a view to creating demand for the Development institution’s own products, developing a target segment for the future Institution dedicated Entity imparting financial education as its core activity, whether with the to Financial Literacy profit motive or not Part of Broader Entity imparting financial education as one of many interventions in its Development Agenda area of operations Regulatory, policy initiatives or Government programmes for imparting Policy/ Government financial education (may or may not be stand-alone activities) programme 1 | P a g e Financial education provided as part of a Corporate Social Responsibility Corporate Social agenda, either due to the entity’s own expertise in the field or because of a Responsibility felt need for financial literacy programmes in the target population Investor Education/ Financial education provided to protect existing customers from Client Protection or undesirable financial decisions, over-indebtedness. Aims at giving Credit plus service customers full and fair information about financial products and services. 2-1.3 Outreach 2-1.4 Target segments addressed 2-1.5 Topics covered 2-1.6 Communication methods used 2-1.7 Funding sources Coding used in indices Applicable
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