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The Microfinance REVIEW Vol. 1 No. 1 The January - June 2009 microFINANCE REVIEW Journal of the Centre for Microfinance Research MICRO- FINANCE AND FINANCIAL INCLUSION MICRO-FINANCE AND WOMEN EMPOWERMENT SUSTAINABILITY OF MICRO-FINANCE OPERATIONS AND OTHER ISSUES BANKERS INSTITUTE OF RURAL DEVELOPMENT LUCKNOW, INDIA The microFINANCE REVIEW Objective of the Journal The objective of the Journal is to promote studies on issues related to the microfinance sector in India and abroad in order to sensitise the policy makers, donors, researchers and others who are associated with the sector. The journal proposes to identify key problems and encourage debate in the microfinance sector on issues such as socio-economic empowerment, institutional arrangements and innovations in microfinance products with special focus on rural clients Patrons: Mr. Umesh Chandra Sarangi, IAS (Chairman, Governing Council, BIRD) Dr. K.G. Karmakar (Vice-Chairman, Governing Council, BIRD) Editorial Board Chief Editor : Mr. S. K. Chatterjee Managing Editor : Dr. Gyanendra Mani Associate Editors : Mr. Vivek K. Sinha Mr. Sanjay K. Dora Members : Mr. R. V. Swamy Dr. K.C. Sharma Research Mr.S. K. Mitra, Executive Director, NABARD Advisory: Dr. Prakash Bakshi, Executive Director, NABARD Commitee Dr. D. D. Tewari, Deputy Dean, Faculty of Management Studies, University of KwaZulu-Natal, Durban South Africa Dr. Indira Hirway, Director Centre for Development Alternatives, Ahmedabad Dr. Sanjeev Kapoor, Chairperson, CFAM, IIM, Lucknow Vol. 1 No. 1 January–June 2009 TheThe microFINANCEmicroFINANCE REVIEWREVIEW Journal of the Centre for Microfinance Research l MICRO-FINANCE AND FINANCIAL INCLUSION l MICRO-FINANCE AND WOMEN EMPOWERMENT l SUSTAINABILITY OF MICRO-FINANCE OPERATIONS AND OTHER ISSUES BANKERS INSTITUTE OF RURAL DEVELOPMENT LUCKNOW, INDIA Annual Membership Fee / Subscription to The microFINANCE REVIEW Particulars Inland (Rs.) Foreign (US $) Individual Membership For One Year 500 60 Life Membership 5000 500 Institutional Membership For One Year 1000 120 For Five Years 4500 500 * Payment should be made through Demand Draft payable to Bankers Institute of Rural Development, Lucknow. The microFINANCE REVIEW Host Institution Supporting Institution Bankers Institute of Rural EPW Research Foundation Development (BIRD) (A sister institution of Sector-H, LDA Colony, Economic and Political Weekly) Kanpur Road, C-212, Akurli Industrial Estate, Lucknow - 226 012 INDIA. Akurli Road, Kandivli (East), Tel: +91-522-2421954/1953/1187 Mumbai - 400 101 INDIA. Fax: +91-522-2421176 Tel: +91-22-28873041/ 28854995 Email: [email protected]/ Fax: +91-22-28873038 [email protected] Email: [email protected] Website: http://www.birdindia.com Website: http://www.epwrf.res.in Director Director Mr. S. K. Chatterjee Mr. K. Kanagasabapathy Message from Shri. Umesh Chandra Sarangi*, IAS he last decade has witnessed exponential growth in the microfinance sector of our country. THowever, the micro-Finance sector as a whole in India is highly decentralised and fragmented and the growth in this sector is witnessing increased diversity in terms of operating models, legal forms, outreach to clients, regional imbalances, etc. A lot of literature, documentation as also research findings are available on the microfinance sector. Yet, there is a need to make the broader picture of the sector, clearer and sharply focussed for the stakeholders, There is a policy makers, investors, bankers, practitioners. need to make In the above context, a Centre for Microfinance the broader Research (CMR) was set up within Bankers Institute picture of the of Rural Development (BIRD), Lucknow during 2008 sector, clearer to take up research activities in the field of microfinance for facilitating policy initiatives and and sharply improvements in design and delivery system of focussed for microfinance services. the stakeholders, I am happy that the CMR, BIRD has come out with policy makers, the inaugural issue of its six-monthly Journal ‘The investors, microFINANCE REVIEW’ containing research based bankers, articles on a wide range of topics in the arena of practitioners. microfinance. I am sure that the articles in the Journal will be immensely useful to Policy Makers, Bankers, Practitioners, and Researchers in the field of microfinance. Wishing all the best. * Chairman, NABARD, Mumbai (Umesh Chandra Sarangi) Message from Dr. K.G. Karmarkar* am delighted to note that BIRD proposes to publish “The microFINANCE REVIEW”, a half yearly jour- Inal on microfinance. The growth of the microfinance sector in India since 1995-96 is testimony to its efficiency and outreach in tackling the problems of the rural poor and it is now universally recognised as a model for financial inclusion and also a support provider for poverty alleviation. However, despite the best efforts of the RFIs and the MFI sector, the magnitude of financial exclusion is truly staggering. One of the key This journal challenges being faced by policy makers today is to will be a ensure that the growth process is made more inclusive. logical step in The solution may lie in moving away from traditional identifying instruments/ processes of credit delivery towards more and addressing innovative methods. The microfinance sector today solutions to is facing challenges in the areas of upscaling capacity building, upscaling accounts maintenance and financial many of the management. BIRD has set up the Centre for challenges in Microfinance Research (CMR) which has started the areas of conducting action oriented research. This journal will upscaling be a logical step in identifying and addressing solutions capacity to many of these challenges. It will also help in building, generating informal discussions among scholars, researchers and policy makers on emerging trend and upscaling issues. The need to ensure quality articles on a consistent accounts basis, in every issue will be met, by strict quality checks maintenance and standards. and financial I congratulate BIRD on taking this initiative and wish management. the journal all success. With best wishes * Managing Director, NABARD, Mumbai (Dr. K. G. Karmakar) C O N T E N T S Page No. Introductory Paper: Emerging Issues in Rural Credit K. G. Karmakar and N.P. Mohapatra ................................................................................................ 1 Self-help Co-operatives, Deposit Mobilisation & Supply of Credit: Evidence from Orissa, India Gagan Bihari Sahu and Biswaroop Das ............................................................................................. 18 Role of Microfinance Intervention in Household's Access to Insurance Services - Findings from Tamil Nadu D.Yeswanth .............................................................................................................................................40 Micro-Housing Loans for Micro-Entrepreneurs: A Needs Assessment Stuti Tripathi and Minakshi Ramji ..................................................................................................... 53 Microfinance: A Coping Mechanism for HIV/AIDS in Tamil Nadu U Devasenadhipathi, S Mariappan & V Nirmala .............................................................................. 72 Role of Microfinance in Women Empowerment: A Study of Selected Experiments in Kerala C. Krishnan ........................................................................................................................................... 84 Microfinance and Women: Gender Issues of Poverty Alleviation and Empowerment Gopa Samanta .....................................................................................................................................100 Is Convergence of SHGs and SGSY Approaches of Lending a Necessary Condition for the Growth of Microfinance Sector in India? G.R. Chintala and Gyanendra Mani ..................................................................................................121 Index of Microfinance Group Sustainability: Concepts, Issues and Empirical Evidence from Rural India Naveen K. Shetty ..................................................................................................................................131 Government Operated Self-Employment and Microfinance Programme Towards Financial Inclusion and Poverty Alleviation in Rural Areas: A Study of Self-Help Groups under SGSY Basanta K Sahu and K. K. Tripathy, IES .........................................................................................153 Self-Help Groups and Financial Inclusion of Rural Households in Dry Land Villages of Davangere District, Karnataka K. B. Rangappa, Ms. Renuka Bai & A. L. Sandesh .........................................................................171 Self-Help Group and Asset Creation: A Case Study of Deharkuchi Gaon Panchayat of Nalbari District, Assam Prasenjit Bujar Baruah ..................................................................................................................... 183 1 Emerging Issues in Rural Credit - Dr. K.G. Karmakar1 and Shri N.P. Mohapatra2 As banking services are Introduction in the nature in the nature From the mid-sixties onwards, various attempts have been of essential made to address the issue of endemic poverty in India. Inspite public of various efforts, poverty alleviation still remains an elusive services, goal. The infamous Bengal famine or Naanka famine still haunts the memory of affected States such as Bengal, Bihar availability and Orissa. In the KBK (Koraput, Bolangir and Kalahandi) of banking, region as well as other tribal areas, even
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