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Bihar Inclusive Finance Bulletin Volume 2, Issue 2, September, 2014

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Bihar Inclusive Finance Bulletin Volume 2, Issue 2, September, 2014 Bihar Inclusive Finance Bulletin Volume 2, Issue 2, September, 2014 Published by ACCESS – ASSIST under the Poorest State Inclusive Growth (PSIG) Programme PSIG Programme – Updates Inside the Issue: - 1. PSIG – Updates & Events 1. PSIG has commi ssioned MicroSave Resource and Social Welafre) 2. Micro Finance in Bihar – Overview to conduct a “Drill-down Banking wasorganised on 11th August 3. Glimpse of SLBC Report Correspondent (BC) study in with the purpose of convergnce 4. Financial Literacy (FL) Initiatives in Bihar Bihar” to improve the current body and increasing outreach on a) FL Initiative by RBI of knowledge around the status of Swavlamban Scheme. Both the b) FL programme by NABARD the BC model in Bihar and provide departments are positive towards c) Financial Literacy Centers recommendations to improve its opting this scheme. Social Welfare d) FL initiative of JEEViKA effectiveness and to offer inputs Department has started the process e) FL Initiative – Bihar Gramin Bank to policy makers. The study is of implementing it as an optional f) Interview with Chairman, complete and its dissemination is scheme, whereas Labour Resource Bihar Gramin Bank proposed in September, 2014. Department is likely to roll it out g) FL Initiatives by Aga soon for construction labourers. Khan Rural Support 2. Meetings were held with RBI, Programme. NABARD, SLBC, and Department 6. As a follow up action of the SFIF of Institutional Finance to share meeting, Aggregator’s Forum is and role of the forum, policy activities under the SFIF. being formed after consent of 11 and operational level issues in aggregators/sub-aggregators of implementing Swavalamban 3. Capacity building grant was Bihar. First meeting of Aggregator’s scheme. This forum will meet bi extended to four partner Forum was held on 2nd September monthly. In next meeting official microfinance institutions namely 2014. 8 out of 11 aggregators from PFRDA will also be called Arohan, CDOT, Jagaran Microfin, participated in this forum. The as special invitee to discuss over and Saija Finance. The capacity forum has discussed over structure issues. building support is directed towards confidence building, promotion of other financial Updates from other PSIG states – services, and expansion in Odisha – underserved districts of Bihar. • A pilot study on NPA in SHG portfolio conducted in collaboration with Odisha Gramin Bank. 4. PSIG is commissioning Poverty • Piloting of credit bureau initiative in process in collaboration with Utkal Outreach Report of MFI clients in Gramin Bank Bihar. This poverty outreach survey • Interface with Royal Sundaram insurance company to develop general will be conducted by Grameen insurance product for SHGs. Foundation using a Progress out • Exposure visit of bankers to Annapurna Microfinance Pvt. Ltd. held on 23rd of Poverty Index a 10 indicator August in Bhubaneswar. poverty measurement tool. A Madhya Pradesh- kick off workshop for MFIs was • Exposure visit of bankers to Samhita Microfinance organised on 24th July. organised on July 3rd to explain Senior officials from 9 public sector banks and 3 RRBs visited Samhita. the objective of the study and Purpose of this visit was to sensitize bankers to systems & procedures of understanding the context of MFI MFIs. outreach in the State. The study is • SFIF, Madhya Pradesh is in its formation phase. underway and data collection is • A kickoff meeting with MFIs on Poverty Outreach report was held on 18th likely to begin in October. July 2014. 5. A Meeting between Mr. Rakesh Uttar Pradesh –- Sharma, GM PFRDA and • Formation of SFIF and inception meeting was held on 26th August 2014. government departments (Labour Poorest States Inclusive Growth (PSIG) Programme Bihar Inclusive Finance Bulletin Volume 3, Issue 1, September 2014 PSIG Programme - Events SFIF Meeting BC Workshop hird meeting of the Bihar SFIF was held on icroSave in partnership with SIDBI has been T3rd July, 2014 at Hotel Chanakya, Patna. Apart Mcommissioned with a Drill-down study of from the PSIG team and SFIF members, Shri M. P. BC Model in Bihar in order to analyze BC Model in Bhagat, Deputy Director (Banking) of Department of the state and identify policy, institutional, and CSP Institutional Finance attended the meeting as a special level recommendations. A workshop was organized invitee. ACCESS team had updated the forum on on 9th June, 2014 in Hotel Gargee Grand, Patna follow up actions taken after the two SFIF meetings. in which MicroSave presented their findings and It was suggested by the forum to form an informal recommendations from the study and took feedback association of aggregators to pursue outreach of from stakeholders. Apart from PSIG team and Swavalamban scheme in the state. Feedback on the MicroSave the workshop was attended by banks, BC newsletter was also sought from members to enrich organisations and other SFIF members. it. Standing Committee Report on the Micro Finance Bill was also discussed, and it was agreed that PSIG will support the concerned Govternment department Top recommendations based on the consensus that in coming to a consensus over bill within the state. came out of the discussion, are – The next SFIF meeting will be held in September. • Circulars by RBI should be implemented by banks on regular basis. Financial Inclusion Updates • There should be uniformity in services like recog- nition of CSPs, their remuneration etc. • Honourable Prime Minister, Shri Nrendra Modi launched “Jan-dhan” yojana to boost • There needs to be a platform where problems faced Financial Inclusion on 15th August 2014. by BCNMs and bankers can be shared and neces- • Every households of Bihar will have bank sary action can be taken by both the entities account by 15th Aug. 2015 – Finance Minister, • SIDBI and DFID can work together to resolve the Bihar. issue of working capital for BCNMs, under the • RBI has formally recognized MFIN as the Self PSIG programme. Regulatory Organization (SRO) for NBFC – MFIs. Poorest States Inclusive Growth (PSIG) Program Bihar Inclusive Finance Bulletin Volume 3, Issue 1, September 2014 Microfinance in Bihar - Overview ihar grows out to be one BC operations and extending micro organization by RBI, and a stable Bof the most potential fields pension services to more than 8,000 operating environment has for financial inclusion initiative customers as an aggregator for the enhanced stakeholder confidence in identified by MFIs. Bihar ranks 6th, Swavalamban scheme assisted by the state. The state has shown better in terms of NBFC-MFI operations, Govt. of India. penetration level too by venturing among various states. Gross Loan into extend to 36 out of 38 districts of Portfolio (GLP) in the state grew Greater regulatory clarity, including Bihar. The performance indicators by 56.9 % in the last financial recognition of the industry on financial health of NBFC-MFIs year. Large MFIs like Ujjivan, body, MFIN as a self-regulatory in Bihar are shown below: Spandan, SKS, Bandhan, and Share are functional in the state, home Q4 FY Q1 FY % in- Rank (among Particulars grown MFI like Saija have shown 2013-14 2014-15 crease various states) an impressive performance as well. NBFC – MFI count 17 17 - 6th Saija, a Bihar based emerging MFI as GLP (Rsbn) 15.56 16.15 3.79% 6th per CRISIL, has shown GLP growth Clients (mn.) 1.73 1.81 5% 6th rate of 108% for FY 2013-14 over FY Average loan amount 16, 741 17, 548 4.82% -- 12-13, the client base increased to disbursed (Rs.) 48,000as on March 2014, registering Branches 624 637 2.08% 8th a 57% increase. C-DOT, another Employees 4, 166 4, 422 6.14% -- home grown MFI, is instrumental in providing services through their Source: MFIN, Micrometer issue 10, June, 2014 Drill Down Study of BC Model in Bihar –By MicroSave PSIG had commissioned MicroSave to conduct a “Drill-down Banking Correspondent (BC) study in Bihar” to improve the current body of knowledge around the status of the BC model in Bihar and provide recommendations to improve its effectiveness and offer inputs to policy makers. Findings from Institutional Assessments Success Factors • Strong relationships with banks that the BCs are associated with. • Stringent CSP selection criteria which has provided strong on-ground presence. • Direct support &involvement of senior management of BCs, especially in field operations. • Access to sources of working capital which in turn has enabled BCs to manage liquidity. Risks and Challenges • Lack of enabling infrastructure (power, road and GPRS connectivity). • Lack of on ground support and ownerships of the model by bank branches. • Low levels of financial literacy among customer base. • Unsustainable business models Recommendations • Ensure sustainability of CSPs • Building trust in BCs as an alternate, (but legitimate!) channel • Establish better support systems • Standardize Client / CSP protection systems Poorest States Inclusive Growth (PSIG) Programme Bihar Inclusive Finance Bulletin Volume 3, Issue 1, September 2014 Glimpse of SLBC Report he 48th SLBC meeting was held on 27th May 2014 Finance to Self Help Groups (SHGs) – Tin Patna. Banks have shared their performances from last financial year. After giving a Looking at the Banks have credit-linked 41,714 SHGs during finan- data shared by various banks, it is obvious that Bihar cial year 2013-14, with total bank finance of Rs. 310.72 has shown growth in several indicators in banking crore. Year-wise performance under SHG financing is given in the table below: performance vis-à-vis previous year indicators. Number Amount Performance Indicators of Banks of SHGs % in- % in- Year of finance Credit crease crease (in cr.) 200000 Linked 150000 2008-09 25,696 -- 211.44 100000 2009-10 30,241 17.69% 295.05 39.54% 50000 2010-11 26,055 -13.84% 198.13 32.85% 0 2011-12 22,714 -12.82% 179.64 9.33% Deposits Advances Advances CD Ratio Priority Adv.
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