MicrofinanceChanges Demanded Mentor MR. PARTHA CHATTERJEE Faculty of Management Presented By Santanu Ghosh MBA 2ND Year
What is Microfinance?Microfinance is a general term to describe financialservices to low-income groups including, selfemployed or to those who do not have access totypical banking services. ServicesMicro Credit Savings Micro Insurance Fund Transfer
Facts File about MFIs Company Services available at rural areas of a country Interest rate charged between 15% to 36%. Loan amount varies from Rs.5000-Rs.30000 More than 1000 company operating. Installment is paid weekly with interest.
Legal forms of MFIs NGO MFIs – Registered under Societies Registration Act, 1860 and / or Indian Trust Act, 1882 Cooperative MFIs – Registered under State Cooperative Societies Act or Mutually Aided Cooperative Societies Act (MACS) or Multi- State Coop. Societies Act, 2002 NBFC MFIs incorporated under Section 25 of Companies Act, 1956 (not for profit) NBFC MFIs incorporated under Companies Act, 1956 & registered with RBI
What is Micro CreditMicrocredit can be defined as the provision of credit services to poor clients.Objectives of Micro CreditAlleviation of PovertyEmpowerment of womenIncome Generation
Interest Profits Rs in CroresCompany Name 2007-08 2009-10 SKS Microfinance 170.1 958.92 Bandhan 6.56 222.11 BSS 7.03 155.38 Share microfinance 113.08 475.27 Grameen FS 82.65 327.35 Spandana 127.45 724.09 Spoorthy Ujjivan 36.37 372.89 As published in Dainik Jagran