MicroSave conducted Client Research on Client Protection in three countries - India, Bangladesh and the Philippines - during February 2012 to April 2012 with 357 clients. For the purpose of research, MicroSave developed a qualitative market research tool - ServQual - to gain clients insights on CPPs. This report presents (a) the evolution of the research tool, (b) results from the research including clients' perspective on relative importance of each of the CPPs and performance of the organisations in implementation of CPPs, and (c) suggestions on the way forward.
Introduction to the principles of client protection to postjpattee
The document summarizes the Smart Campaign, which aims to transform the microfinance industry to prioritize client protection. It outlines six client protection principles, explains why focus on client protection is needed now, and provides an overview of tools and resources available to help organizations assess, improve, and track their client protection practices.
This document discusses social banking and microfinance in India. It outlines the objectives of social banking as providing credit to small farmers, traders, and cottage industries. Major social banking schemes discussed include the Lead Bank Scheme, Service Area Approach, Village Adoption Scheme, and Differential Rate of Interest Scheme. The document also describes priority sector lending and microfinance through self-help group bank linkage programs. The Lead Bank Scheme designates a bank in each district to coordinate banking institutions. Under the Service Area Approach, banks are allocated specific rural or semi-urban villages.
The passage summarizes the Insurance Regulatory and Development Authority (IRDA) act in India. It established IRDA as a statutory body in 1999 to regulate and promote the growth of the insurance industry. IRDA's mission is to protect policyholders' interests and ensure the orderly growth and development of the insurance sector. Its key objectives include registering insurance companies, protecting policyholders and investors, and regulating solvency requirements and accounting practices. IRDA oversees various functions like issuing licenses, monitoring investments and claims settlement procedures. It has 10 members including a chairman and whole-time/part-time members appointed by the Government of India.
The document discusses different forms of banking including unit banking, branch banking, retail banking, wholesale banking, group banking, chain banking, and universal banking. Unit banking involves a single small bank serving a local community independently, while branch banking allows a bank to have multiple offices controlled by a central head office. Retail banking focuses on individual customers, and wholesale banking focuses on large corporate clients. Group banking involves banks controlled by a holding company, and chain banking involves the same individuals controlling multiple independent banks through stock ownership. Universal banking provides a wide range of financial services through one entity.
NABARD - National Bank For Agriculture And Rural DevelopmentSanket Gaikwad
National Bank for Agriculture and Rural Development is an apex development bank in India, headquartered at Mumbai with branches all over India.
Founded: 12 July 1982
Headquarters: Mumbai
The Board of Financial Supervision (BFS) was constituted in 1994 as a committee of the Reserve Bank of India's Central Board to oversee financial sector supervision. The BFS guides the RBI's regulatory and supervisory functions, including monitoring commercial banks, financial institutions, and non-banking finance companies. It aims to ensure the solvency, liquidity, and sound operations of these financial institutions. The BFS meets monthly and is chaired by the RBI Governor, with Deputy Governors and Central Board members as members. It oversees key departments handling supervision and provides directions on regulatory and supervisory issues.
Banks play several important roles in an economy. They act as financial intermediaries by taking deposits from savers and lending to borrowers. This intermediation role helps allocate funds to their most productive uses. Banks also reduce transaction costs for both savers and borrowers. Additionally, banks provide important services like liquidity, payment systems, risk pooling, and monitoring of borrowers, which supports economic activity. While some argue banks are unnecessary in a perfect market, evidence shows banks remain central to economic growth in reality due to market imperfections.
This document provides an outline for a research study on analyzing the effects of consumer risk perception on purchasing banking services through the internet. It includes an introduction on banking and online banking, the need for internet banking in India, and discusses various dimensions of risk perceived by consumers. The objectives are to understand the impact of risk perception and determine differences between users and non-users of internet banking. A literature review is presented on previous studies related to online banking quality, risk perception, and factors influencing internet banking usage. The methodology discusses using descriptive and exploratory research approaches through surveys and secondary data collection.
Introduction to the principles of client protection to postjpattee
The document summarizes the Smart Campaign, which aims to transform the microfinance industry to prioritize client protection. It outlines six client protection principles, explains why focus on client protection is needed now, and provides an overview of tools and resources available to help organizations assess, improve, and track their client protection practices.
This document discusses social banking and microfinance in India. It outlines the objectives of social banking as providing credit to small farmers, traders, and cottage industries. Major social banking schemes discussed include the Lead Bank Scheme, Service Area Approach, Village Adoption Scheme, and Differential Rate of Interest Scheme. The document also describes priority sector lending and microfinance through self-help group bank linkage programs. The Lead Bank Scheme designates a bank in each district to coordinate banking institutions. Under the Service Area Approach, banks are allocated specific rural or semi-urban villages.
The passage summarizes the Insurance Regulatory and Development Authority (IRDA) act in India. It established IRDA as a statutory body in 1999 to regulate and promote the growth of the insurance industry. IRDA's mission is to protect policyholders' interests and ensure the orderly growth and development of the insurance sector. Its key objectives include registering insurance companies, protecting policyholders and investors, and regulating solvency requirements and accounting practices. IRDA oversees various functions like issuing licenses, monitoring investments and claims settlement procedures. It has 10 members including a chairman and whole-time/part-time members appointed by the Government of India.
The document discusses different forms of banking including unit banking, branch banking, retail banking, wholesale banking, group banking, chain banking, and universal banking. Unit banking involves a single small bank serving a local community independently, while branch banking allows a bank to have multiple offices controlled by a central head office. Retail banking focuses on individual customers, and wholesale banking focuses on large corporate clients. Group banking involves banks controlled by a holding company, and chain banking involves the same individuals controlling multiple independent banks through stock ownership. Universal banking provides a wide range of financial services through one entity.
NABARD - National Bank For Agriculture And Rural DevelopmentSanket Gaikwad
National Bank for Agriculture and Rural Development is an apex development bank in India, headquartered at Mumbai with branches all over India.
Founded: 12 July 1982
Headquarters: Mumbai
The Board of Financial Supervision (BFS) was constituted in 1994 as a committee of the Reserve Bank of India's Central Board to oversee financial sector supervision. The BFS guides the RBI's regulatory and supervisory functions, including monitoring commercial banks, financial institutions, and non-banking finance companies. It aims to ensure the solvency, liquidity, and sound operations of these financial institutions. The BFS meets monthly and is chaired by the RBI Governor, with Deputy Governors and Central Board members as members. It oversees key departments handling supervision and provides directions on regulatory and supervisory issues.
Banks play several important roles in an economy. They act as financial intermediaries by taking deposits from savers and lending to borrowers. This intermediation role helps allocate funds to their most productive uses. Banks also reduce transaction costs for both savers and borrowers. Additionally, banks provide important services like liquidity, payment systems, risk pooling, and monitoring of borrowers, which supports economic activity. While some argue banks are unnecessary in a perfect market, evidence shows banks remain central to economic growth in reality due to market imperfections.
This document provides an outline for a research study on analyzing the effects of consumer risk perception on purchasing banking services through the internet. It includes an introduction on banking and online banking, the need for internet banking in India, and discusses various dimensions of risk perceived by consumers. The objectives are to understand the impact of risk perception and determine differences between users and non-users of internet banking. A literature review is presented on previous studies related to online banking quality, risk perception, and factors influencing internet banking usage. The methodology discusses using descriptive and exploratory research approaches through surveys and secondary data collection.
Summer internship report submitted to State Bank of India on the topic - “Yo...Deepanjan Das
A Summer internship report submitted to State Bank of India on the topic - “Youth and SBI - Connected or Disconnected”.
Research work done from May 15th 2013 to July 15th 2013.
60 days/ 2 months internship program.
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme that provides a renewable one-year life insurance cover of Rs. 2 lakhs to all savings bank account holders in participating banks between the ages of 18-50 years. The scheme is administered through LIC and other participating private insurers. The premium is Rs. 330 per annum, which will be automatically deducted from the insured's bank account. The scheme provides a renewable one-year term life cover for death due to any reason and has an enrollment period each year from June 1st to May 31st.
This document discusses credit appraisal systems for small and medium enterprises (SMEs) in India. It outlines the banking industry landscape and classifications. The research methodology involves analyzing case studies of loan applications using various financial tools and ratios to evaluate capital budgeting, risk, and overall financial position. The findings show the case studies were positively assessed based on financials. Suggestions include improving rating mechanisms, personnel skills, and customizing products while revising credit policies periodically. The conclusion is credit appraisal considers multiple factors beyond just financials, including business viability, industry, management quality and loan conduct.
Priority Sector Lending in India | भारत में प्राथमिकता क्षेत्र ऋण | Priority ...Abinash Mandilwar
Priority Sector Lending is very important topics for banking knowledge. This video is based on latest RBI guidelines. It is useful for JAIIB/CAIIB Exam, Bank Po Exam and Bank promotion. Don't forget to like share and comment the video. If you want video on any banking topics, suggest me in the comment box. For details you may refer my book on JAIIB. https://www.flipkart.com/search?q=abi...
This study examines the relationship between bank efficiency and different types of regulations in 10 new EU member states from 1996-2009. The authors use data envelopment analysis to measure bank cost efficiency and panel regression analysis to analyze the impact of credit, labor, and business regulations on efficiency. The results provide some evidence that credit regulations positively impact efficiency, while labor regulations initially have a negative effect. Variance decompositions from a panel vector autoregression confirm the strong causality from credit regulations to efficiency, with privatization and foreign competition being most important. Overall, the findings suggest regulations across multiple sectors can significantly impact bank efficiency.
The document is a project report on the service quality gap of HDFC Bank. It includes an introduction outlining the importance of service quality in the banking sector. It then provides a profile of HDFC Bank, outlining its mission, vision and business focus. The next sections discuss service quality in banks and define the key dimensions of service quality - Reliability, Assurance, Tangibles, Empathy and Responsiveness (RATER). The research objectives are then stated as examining the RATER dimensions of HDFC Bank and identifying areas for improvement. The methodology, data collection process and data analysis sections are also outlined.
The document discusses various legal and documentation aspects related to banking. It explains that banking relationships are governed by contracts and customers must be legally capable of entering contracts. It also discusses the importance of proper documentation for creating charges, as evidence for legal proceedings, and for enforcing securities. The document covers various types of documents, their execution, stamping, registration requirements, and limitations.
Introduction to Banking, Evolution of Banking, History of Banking system, Route map from traditional banking to Modern banking, Modern Banking system and its evolution, Growth of Indian Banking System
The document is a student project on bancassurance in India. It includes a declaration by the student, acknowledgments, an executive summary, and an index outlining the contents of the project. The project discusses the history of banking and insurance in India, defines bancassurance, and explores the benefits and regulations around bancassurance in the Indian market.
The document discusses various topics related to commercial banking including:
1. It defines what a bank is and its key functions of accepting deposits and lending funds.
2. It describes different types of banking systems used around the world such as branch banking, unit banking, and corresponding banking.
3. It provides an overview of the largest banks in the world by total assets, with the top 5 being in China.
4. It outlines the main sources of funds for banks such as deposits, borrowed funds, and long-term sources. It also discusses the main uses of funds such as loans, investments, and cash.
System Design: Gold Loan Disbursement in Capital FirstLov Loothra
This project elucidates the usage of industry best practices in Business Analysis and Process Modelling to design a Gold Loan Disbursement system for Capital First Limited. The following were the broad objectives of the project:
- Studying and examining the current practices in the Gold Loan Industry in India
- Understanding the Loan Against Gold Product
- Examining the workings of Gold Loan branches at Capital First Limited
- Designing a system for Gold Loan disbursement process
- Assessing whether the process efficiency can be improved
The document discusses the role of central banks as regulatory authorities of financial markets and institutions. It provides an overview of the history and evolution of central banking. It then discusses Nepal Rastra Bank (NRB), the central bank of Nepal, outlining its objectives, governance structure, and key functions. The central bank controls money supply, stabilizes markets, acts as lender of last resort, oversees payments and maintains a sound banking system. It carries out various monetary policy tools and provides public information.
Role of Commercial Bank for economic SustainabiltyMd Chowdhury
The document provides background information on the role of commercial banks in economic sustainability. It discusses:
1) Commercial banks play a key role in economic development by mobilizing savings and allocating credit to productive sectors. They connect those with capital to those seeking capital.
2) Commercial banks promote capital formation and economic growth by encouraging saving and investment. They induce people to save and provide various funding options.
3) Commercial banks help address capital deficiencies and make funds more available for economic activities like innovation that drive development. This helps countries progress toward self-sufficiency.
The document provides background information on e-banking in India. It discusses:
1) The evolution of e-banking, from early distance banking services in the 1980s to the first online internet banking services in 1994.
2) The pre-e-banking scenario in India, where traditional banking involved limited information available only at physical branches.
3) How increased competition from private banks in the 1990s forced public sector banks to adopt technology and computerize operations.
Karur Vysya Bank is a private sector Indian bank established in 1916 in Tamil Nadu. It has over 650 branches across 18 states and union territories. The bank offers various deposit, loan, insurance, and investment products and services. It has expanded its service channels to include internet banking, mobile banking, debit/credit cards, and bill payment facilities. Karur Vysya Bank has received several awards recognizing its performance and growth.
Bank deposits consist of money placed with a bank for safekeeping. Deposit management aims to attract stable, low-cost deposits that can be lent out at a competitive rate. There are several types of deposit accounts including current, savings, term/fixed, call, margin, and recurring deposits that banks use to effectively manage deposits.
The document discusses the recommendations of the Narasimhan Committee on financial sector reforms in India in the 1990s. It summarizes the key reforms such as liberalizing private sector participation in banking, strengthening bank regulation, developing the bond and money markets, reforming insurance and capital markets, and establishing independent regulators like SEBI and IRDA. The reforms aimed to develop an efficient, competitive and stable financial system to effectively allocate resources and support growth.
1) Bangladesh Bank has established a legal and policy framework to promote the financing and development of CMSMEs in Bangladesh. This includes definitions of CMSMEs in various sectors and strategic plans focusing on increasing access to finance.
2) Innovative financing initiatives by Bangladesh Bank include refinance facilities, credit guarantee schemes, and training programs to support CMSME growth. Target-based lending has helped achieve high levels of CMSME loan disbursement.
3) Reporting requirements provide monitoring of key CMSME lending data from banks and financial institutions, including targets, volumes, sectors, and priority groups like women-owned enterprises.
This document summarizes various asset products offered by banks. It discusses that assets for banks include loans provided to customers at different interest rates depending on the type of product. It outlines key housing, personal, property, agriculture, vehicle and credit/debit card loans. It also discusses investment products offered by banks. The presentation provides an overview of different asset classes and concludes with a snapshot of asset products.
Financial inclusion, Atal Pension Yojana, PMJDY, PMJJY, PMSBYAbinash Mandilwar
This document provides information on financial inclusion and government schemes in India, with a focus on the Pradhanmantri Jan Dhan Yojana (PMJDY). It discusses the goals of financial inclusion to provide the poor and disadvantaged access to banking services. Key points about PMJDY include that over 17.74 crore accounts have been opened with over Rs. 22,000 crores in deposits. Milestones of the program are highlighted such as deploying over 1.26 lakh Bank Mitras and conducting financial literacy programs. The document concludes by stating some current status figures on PMJDY as of August 2016.
The document discusses the need for pricing transparency in the microfinance industry. It notes that interest rates currently vary significantly depending on loan size, making transparency difficult. Non-transparent pricing creates market inefficiencies and the potential for high profits from lending to the poor. The author proposes that the microfinance industry advocate for pricing transparency through an initiative called MFTransparency, which would publish equivalent annual percentage rates for loans in different countries to educate the public and enable more informed decisions. MFTransparency has launched pilot projects in several countries and aims to work with microfinance institutions, donors, and other stakeholders to improve practices around consumer protection and pricing transparency.
The document discusses client protection at CARD Bank, a microfinance institution in the Philippines. It outlines CARD Bank's commitment to 6 principles of client protection: 1) appropriate product design, 2) transparency, 3) responsible pricing, 4) responsible treatment of clients, 5) effective complaint resolution, and 6) privacy of client data. For each principle, it provides examples of how CARD Bank implements that principle, such as designing loans based on client needs, providing transparent loan terms, offering competitive savings rates and client dividends, and maintaining privacy of client financial data. The document emphasizes CARD Bank's dedication to fully protecting client interests.
Summer internship report submitted to State Bank of India on the topic - “Yo...Deepanjan Das
A Summer internship report submitted to State Bank of India on the topic - “Youth and SBI - Connected or Disconnected”.
Research work done from May 15th 2013 to July 15th 2013.
60 days/ 2 months internship program.
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme that provides a renewable one-year life insurance cover of Rs. 2 lakhs to all savings bank account holders in participating banks between the ages of 18-50 years. The scheme is administered through LIC and other participating private insurers. The premium is Rs. 330 per annum, which will be automatically deducted from the insured's bank account. The scheme provides a renewable one-year term life cover for death due to any reason and has an enrollment period each year from June 1st to May 31st.
This document discusses credit appraisal systems for small and medium enterprises (SMEs) in India. It outlines the banking industry landscape and classifications. The research methodology involves analyzing case studies of loan applications using various financial tools and ratios to evaluate capital budgeting, risk, and overall financial position. The findings show the case studies were positively assessed based on financials. Suggestions include improving rating mechanisms, personnel skills, and customizing products while revising credit policies periodically. The conclusion is credit appraisal considers multiple factors beyond just financials, including business viability, industry, management quality and loan conduct.
Priority Sector Lending in India | भारत में प्राथमिकता क्षेत्र ऋण | Priority ...Abinash Mandilwar
Priority Sector Lending is very important topics for banking knowledge. This video is based on latest RBI guidelines. It is useful for JAIIB/CAIIB Exam, Bank Po Exam and Bank promotion. Don't forget to like share and comment the video. If you want video on any banking topics, suggest me in the comment box. For details you may refer my book on JAIIB. https://www.flipkart.com/search?q=abi...
This study examines the relationship between bank efficiency and different types of regulations in 10 new EU member states from 1996-2009. The authors use data envelopment analysis to measure bank cost efficiency and panel regression analysis to analyze the impact of credit, labor, and business regulations on efficiency. The results provide some evidence that credit regulations positively impact efficiency, while labor regulations initially have a negative effect. Variance decompositions from a panel vector autoregression confirm the strong causality from credit regulations to efficiency, with privatization and foreign competition being most important. Overall, the findings suggest regulations across multiple sectors can significantly impact bank efficiency.
The document is a project report on the service quality gap of HDFC Bank. It includes an introduction outlining the importance of service quality in the banking sector. It then provides a profile of HDFC Bank, outlining its mission, vision and business focus. The next sections discuss service quality in banks and define the key dimensions of service quality - Reliability, Assurance, Tangibles, Empathy and Responsiveness (RATER). The research objectives are then stated as examining the RATER dimensions of HDFC Bank and identifying areas for improvement. The methodology, data collection process and data analysis sections are also outlined.
The document discusses various legal and documentation aspects related to banking. It explains that banking relationships are governed by contracts and customers must be legally capable of entering contracts. It also discusses the importance of proper documentation for creating charges, as evidence for legal proceedings, and for enforcing securities. The document covers various types of documents, their execution, stamping, registration requirements, and limitations.
Introduction to Banking, Evolution of Banking, History of Banking system, Route map from traditional banking to Modern banking, Modern Banking system and its evolution, Growth of Indian Banking System
The document is a student project on bancassurance in India. It includes a declaration by the student, acknowledgments, an executive summary, and an index outlining the contents of the project. The project discusses the history of banking and insurance in India, defines bancassurance, and explores the benefits and regulations around bancassurance in the Indian market.
The document discusses various topics related to commercial banking including:
1. It defines what a bank is and its key functions of accepting deposits and lending funds.
2. It describes different types of banking systems used around the world such as branch banking, unit banking, and corresponding banking.
3. It provides an overview of the largest banks in the world by total assets, with the top 5 being in China.
4. It outlines the main sources of funds for banks such as deposits, borrowed funds, and long-term sources. It also discusses the main uses of funds such as loans, investments, and cash.
System Design: Gold Loan Disbursement in Capital FirstLov Loothra
This project elucidates the usage of industry best practices in Business Analysis and Process Modelling to design a Gold Loan Disbursement system for Capital First Limited. The following were the broad objectives of the project:
- Studying and examining the current practices in the Gold Loan Industry in India
- Understanding the Loan Against Gold Product
- Examining the workings of Gold Loan branches at Capital First Limited
- Designing a system for Gold Loan disbursement process
- Assessing whether the process efficiency can be improved
The document discusses the role of central banks as regulatory authorities of financial markets and institutions. It provides an overview of the history and evolution of central banking. It then discusses Nepal Rastra Bank (NRB), the central bank of Nepal, outlining its objectives, governance structure, and key functions. The central bank controls money supply, stabilizes markets, acts as lender of last resort, oversees payments and maintains a sound banking system. It carries out various monetary policy tools and provides public information.
Role of Commercial Bank for economic SustainabiltyMd Chowdhury
The document provides background information on the role of commercial banks in economic sustainability. It discusses:
1) Commercial banks play a key role in economic development by mobilizing savings and allocating credit to productive sectors. They connect those with capital to those seeking capital.
2) Commercial banks promote capital formation and economic growth by encouraging saving and investment. They induce people to save and provide various funding options.
3) Commercial banks help address capital deficiencies and make funds more available for economic activities like innovation that drive development. This helps countries progress toward self-sufficiency.
The document provides background information on e-banking in India. It discusses:
1) The evolution of e-banking, from early distance banking services in the 1980s to the first online internet banking services in 1994.
2) The pre-e-banking scenario in India, where traditional banking involved limited information available only at physical branches.
3) How increased competition from private banks in the 1990s forced public sector banks to adopt technology and computerize operations.
Karur Vysya Bank is a private sector Indian bank established in 1916 in Tamil Nadu. It has over 650 branches across 18 states and union territories. The bank offers various deposit, loan, insurance, and investment products and services. It has expanded its service channels to include internet banking, mobile banking, debit/credit cards, and bill payment facilities. Karur Vysya Bank has received several awards recognizing its performance and growth.
Bank deposits consist of money placed with a bank for safekeeping. Deposit management aims to attract stable, low-cost deposits that can be lent out at a competitive rate. There are several types of deposit accounts including current, savings, term/fixed, call, margin, and recurring deposits that banks use to effectively manage deposits.
The document discusses the recommendations of the Narasimhan Committee on financial sector reforms in India in the 1990s. It summarizes the key reforms such as liberalizing private sector participation in banking, strengthening bank regulation, developing the bond and money markets, reforming insurance and capital markets, and establishing independent regulators like SEBI and IRDA. The reforms aimed to develop an efficient, competitive and stable financial system to effectively allocate resources and support growth.
1) Bangladesh Bank has established a legal and policy framework to promote the financing and development of CMSMEs in Bangladesh. This includes definitions of CMSMEs in various sectors and strategic plans focusing on increasing access to finance.
2) Innovative financing initiatives by Bangladesh Bank include refinance facilities, credit guarantee schemes, and training programs to support CMSME growth. Target-based lending has helped achieve high levels of CMSME loan disbursement.
3) Reporting requirements provide monitoring of key CMSME lending data from banks and financial institutions, including targets, volumes, sectors, and priority groups like women-owned enterprises.
This document summarizes various asset products offered by banks. It discusses that assets for banks include loans provided to customers at different interest rates depending on the type of product. It outlines key housing, personal, property, agriculture, vehicle and credit/debit card loans. It also discusses investment products offered by banks. The presentation provides an overview of different asset classes and concludes with a snapshot of asset products.
Financial inclusion, Atal Pension Yojana, PMJDY, PMJJY, PMSBYAbinash Mandilwar
This document provides information on financial inclusion and government schemes in India, with a focus on the Pradhanmantri Jan Dhan Yojana (PMJDY). It discusses the goals of financial inclusion to provide the poor and disadvantaged access to banking services. Key points about PMJDY include that over 17.74 crore accounts have been opened with over Rs. 22,000 crores in deposits. Milestones of the program are highlighted such as deploying over 1.26 lakh Bank Mitras and conducting financial literacy programs. The document concludes by stating some current status figures on PMJDY as of August 2016.
The document discusses the need for pricing transparency in the microfinance industry. It notes that interest rates currently vary significantly depending on loan size, making transparency difficult. Non-transparent pricing creates market inefficiencies and the potential for high profits from lending to the poor. The author proposes that the microfinance industry advocate for pricing transparency through an initiative called MFTransparency, which would publish equivalent annual percentage rates for loans in different countries to educate the public and enable more informed decisions. MFTransparency has launched pilot projects in several countries and aims to work with microfinance institutions, donors, and other stakeholders to improve practices around consumer protection and pricing transparency.
The document discusses client protection at CARD Bank, a microfinance institution in the Philippines. It outlines CARD Bank's commitment to 6 principles of client protection: 1) appropriate product design, 2) transparency, 3) responsible pricing, 4) responsible treatment of clients, 5) effective complaint resolution, and 6) privacy of client data. For each principle, it provides examples of how CARD Bank implements that principle, such as designing loans based on client needs, providing transparent loan terms, offering competitive savings rates and client dividends, and maintaining privacy of client financial data. The document emphasizes CARD Bank's dedication to fully protecting client interests.
Principle #2 transparent and responsible training presentation to postjpattee
This document discusses the principle of transparent and responsible pricing in microfinance. It outlines the effects of non-transparency on clients and institutions, including clients not understanding fees and losing trust. The document provides examples of good practices for transparency, such as clearly disclosing all pricing, terms and conditions and having loan officers review contracts with clients. The overall message is that transparency and responsible pricing are important for client satisfaction and the long-term sustainability of financial institutions.
Lesson 6 - Spray Tanning - Personal & Client ProtectionRichard Brown
This document provides guidance on personal protective equipment for spray tanning professionals and their clients. It recommends that professionals wear gloves, aprons, and masks to protect themselves from tanning solutions and guide colors. It also stresses providing clients with disposable underwear, bras, caps, nose plugs, sticky feet, and barrier cream to prevent staining and lines. Masks should be used by both the professional and client to avoid inhalation of particles during the tanning process.
This document discusses deposit mobilization in Pakistani banks. It explains that deposit mobilization is the first step in the financial intermediation process where banks take in deposits and lend them out. It describes the different types of bank deposits including savings accounts, checking accounts, money market accounts, fixed deposits, and call deposits. It provides Allied Bank Limited as a case study, outlining the bank's history and various savings account products it offers to mobilize deposits.
SYMANTEC ENDPOINT PROTECTION Administration IntroductionDsunte Wilson
Symantec Endpoint Protection is a client-server solution that protects laptops, desktops, Windows and Mac computers, and servers in your network against malware.
Symantec Endpoint Protection combines virus protection with advanced threat protection to proactively secure your computers against known and unknown threats.
Commercial banks have the ability to create credit through the process of lending deposits. When a bank grants a loan, it credits the borrower's account, creating new deposits. These derivative deposits can then be lent out again, resulting in multiple expansion of credit in the banking system. The initial deposit of Rs. 1,000 in Bank A resulted in total bank credit of Rs. 1,952 across three banks, demonstrating how one primary deposit can multiply into much higher credit amounts. However, banks' ability to create credit is limited by reserve requirements, economic conditions, and other factors controlled by the central bank.
The document discusses credit creation by commercial banks. It explains that banks are able to generate money through lending deposits created from both primary deposits (customer cash deposits) and derivative deposits (deposits generated from loans). It provides an example to illustrate how a Rs. 1,000 primary deposit can generate over Rs. 2,000 in total banking system deposits and loans through the process of multiple expansion of credit. However, banks' ability to generate credit is limited by reserve requirements and other factors.
Research team from MicroSave and ASKI conducted 24 FGDs with both urban and rural microfinance clients in the Philippines to measure the importance and relevance of client protection principles. Clients were also asked to rate ASKI on its adherence to each of the 7 CPPs. The key findings were- clients affirmed the importance of all seven CPPs. 'Fair and Respectful Treatment of the Clients' and 'Appropriate Product Design and Delivery' are the two most valued CPPs. ASKI was highly rated by clients on its adherence to CPPs with a high score of 2.91 on a 3.0 point rating scale.
Based on the findings of the study, it will be concluded that there is still room for growth in after sales services and customer loyalty management as many marketers and product managers, especially in IT market, have not fully grasped and made use of the whole potential of after-sales service and the strategic importance of the management of customer loyalty for corporate profitability given the inputs of after sales services
This document provides an overview of a student project on customer satisfaction of Airtel mobile services in India. It includes an acknowledgment section thanking the student's guide. The document then outlines the contents which will cover an introduction to customer satisfaction, Airtel's company profile, products and services, SWOT analysis, distribution and sales, targeting, data analysis, findings and conclusions. It describes the research methodology as using a survey method with a sample size of 100 customers and data collection through questionnaires. The need for the study is to understand customer service importance and marketing/management skills for organizational growth by assessing Airtel customer satisfaction levels.
Chapter 10 Tools and Techniques for Quality Management.pptDr. Nazrul Islam
QMS have sub-elements, or tools, that enable users to tailor its use to specific project needs. There are seven conventional QMS tools: flow charts, Ishikawa diagrams, checklists, Pareto charts, histograms, scattergrams, and control charts.
Tools and Techniques for Quality ManagementNazrul Islam
The tools and techniques most commonly used in Quality management and process improvement are: Cause and effect diagram. Control Charts. Histogram. Pareto Charts.
The Seal of Excellence for Poverty Outreach and Transformation in Microfinance is a global initiative currently under development that will recognize those institutions doing the most to help families lift themselves out of poverty. The Seal has been under development the past 19 months with input from a broad range of stakeholders and will continue in 2012.
This PowerPoint illustrates how the Seal fits in with current initiatives and how it has developed over time.
1. Marketing research is used by companies to understand customer expectations and perceptions in order to improve their services. Various research methods are used including surveys, focus groups, and complaint tracking.
2. Two important research methods are critical incident studies, which analyze satisfying and dissatisfying customer service interactions, and requirements research, which identifies customer benefits and attributes.
3. Other techniques include post-transaction surveys conducted after each customer interaction to gauge satisfaction, and service expectation meetings between companies and large business customers. Understanding customer expectations is key to delivering quality service.
This document discusses marketing strategies for the insurance sector in India. It begins by explaining the importance of insurance in helping people deal with risks and uncertainties. The main objectives of the project are to study consumer decision making processes and purchase factors for insurance policies. It then outlines the sampling design used, which involved a survey of 50 respondents through structured questionnaires. Key findings from the data include that most buyers are aged 25-60, interested in online purchasing, and influenced by company reputation and income levels. The document concludes by recommending strategies like improving awareness, relationships, and transparency to better influence insurance purchase decisions.
The document provides guidelines for financial institutions to incorporate adequate client protection practices into their individual lending process. It is divided into two main sections. Section I covers guidelines for product design and staff training, emphasizing the importance of appropriate product design, adequate staff training on fair treatment of clients, complaints handling, and data handling. Section II divides the individual lending process into five phases - product description, loan application, loan approval, disbursement, and customer service/collections - and identifies "service points" within each phase where client protection principles should be applied.
Principle #6 privacy of client data to postjpattee
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Assignment Cover SheetCourseADM 412 OBTitle of Assignmentdaniatrappit
Assignment Cover Sheet
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ADM 412 OB
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Abstract
The paper assesses my previous employer against the Malcom Baldrige National Quality Award performance excellence criteria using the seven performance excellence criteria categories as outlined in the National Institute of Standards and Technology’s Baldrige Performance Excellence Program assessment tool entitled “Are We Making Progress.”
The Malcom Baldrige National Quality Award
The Malcom Baldrige National Quality Award was created by the 100th United States Congress on August 20, 1987 by Public law 100-107 (Library of Congress, n.d.). The award is named for Malcolm Baldrige, the 26th Secretary of Commerce, who served under President Reagan from January 22, 1981 until his accidental death on July 25, 1987 from a rodeo accident in California. Secretary Baldrige was well-known for his award-winning managerial accomplishments and contributions to the United States Government. During his tenure, Secretary Baldrige reduced the Department of Commerce’s administrative staff by 25% and its annual budget by 30% through process improvements and efficiencies (National Institute of Standards and Technology, 2016).
The Malcom Baldrige National Quality Award is the United States’ topmost national level award given to an organization in recognition for their performance excellence. This annual award can be presented to as many as 18 organizations across six categories: healthcare, small business, service, manufacturing, education, and nonprofit (National Institute of Standards and Technology, 2017). The Baldrige award has four functions. First, it encourages United States’ companies to advance productivity and quality through acknowledgement of the award without losing their competitive edge via increased profits. Second, it recognizes an organization’s quality improvement accomplishments as a benchmark for other companies to emulate. Third, it creates processes and measures to be used by various industry categories in assessing their own quality improvement initiates. Fourth, it specifies procedures and benchmarks for other United States’ organizations who wish to cultivate a change in their organizational behavior and norms by providing detaile ...
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Financial inclusion in Indonesia has been growing slowly. A greater proportion of concerted efforts are being made by MicroSave’s Financial Inclusion Insight programme.
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The report discusses what the LMI segments know, understand, and feel about the COVID-19 outbreak and examines its effect on them. The report also highlights actionable recommendations for policymakers to design suitable interventions that can help the LMI segment cope better in this difficult situation
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This report highlights the impact of COVID-19 on business correspondent (BC) agents in India and the issues they faced while delivering financial services in the wake of the pandemic. It also offers policy recommendations to help BCs offer uninterrupted services.
MSMEs in India have been adversely affected by the lockdown announced as a measure to contain the spread of COVID-19. This report outlines the impact of the pandemic on MSMEs and offers policy recommendations to support their recovery.
L'étude porte sur l'une des causes identifiées du faible taux d'activité des utilisateurs des services financiers digitaux. Spécifiquement, elle propose de : Comprendre les pratiques et outils de gestion financière de la population ivoirienne; Proposer des concepts de produits et services complémentaires aux stratégies financières existantes; Mettre à disposition des acteurs de l'écosystème de la finance digitale un processus pour la conception de produit orientés par le marché.
The document summarizes findings from MicroSave's research on Bank Mitrs (BMs) under the Pradhan Mantri Jan Dhan Yojana (PMJDY) financial inclusion scheme in India. Some key findings include: BM availability has marginally reduced from 89% to 84% while transaction readiness has significantly increased from 54% to 79%; Aadhaar seeding has increased to 52% and RuPay card issuance to 43% from 18% previously; and BMs remain the main source of information and preferred transaction point for customers over bank branches and ATMs. The report provides recommendations such as revising BM commissions, enhancing customer awareness, and deploying standardized BM training.
This document summarizes the results of a survey assessing Bank Mitr locations under the Pradhan Mantri Jan Dhan Yojana (PMJDY) program in 9 Indian states. Some key findings:
1) 69% of Bank Mitrs were available at their locations, though only around half were able to conduct transactions.
2) 86% of PMJDY account holders reported it as their first bank account, though only 18% had received a RuPay card.
3) 45% of account holders had Aadhaar numbers, of which 79% had been linked to their PMJDY account.
The report identifies areas for improvement such as updating Bank Mitr data, rational
MicroSave conducted research on Bank Mitrs (BMs, or bank agents) under the Pradhan Mantri Jan Dhan Yojana (PMJDY) financial inclusion program in India. The research found that 97% of BMs were available at their locations, but 10% were dormant and not offering services. 87% of interviewed BMs were active, but transaction readiness varied significantly by bank. Aadhaar enrollment has increased and helped 62% of customers make financial transactions quicker. Comparisons to prior waves found increased BM availability and transaction readiness over time, as well as more customer account access and Aadhaar seeding with accounts.
In this presentation, Anup Singh domain leader of SME Finance domain at MicroSave highlights the key opportunities for the banks in enhancing access to finance to SMEs and also retaining customers through provision of non-financial services. Amongst other things, the focus is on use of automation to enhance efficiency in the processes of SME finance, lower origination cost and reduce turnaround time in expanding access to finance to SMEs.
Weak Bank Mitr networks (with a reported annual attrition rate of 25-35%) in India could severely undermine the PMJDY and the DBT plans of the Government of India. Many Bank Mitrs have stopped offering services because of low commissions for processing G2P payments. However, the government released an Office Memorandum on 16th January 2015 setting the DBT commission rate for rural areas at 1% - much below the costs of delivering the monies and could potentially derail the entire financial inclusion effort of Government of India.
Task Force on Aadhaar-Enabled Unified Payment Infrastructure estimated that a 3.14% DBT commission would be adequate. A new MicroSave costing exercise found that the cost for processing transactions through the agent network is at least 2.63% for each transaction– much higher in more remote rural areas. Prima facie cost to the government for paying DBT commissions appears high, however it could be offset by huge potential savings from reduced administrative costs and reduced payment leakages. A 2011 McKinsey & Company analysis of India’s government payment system, estimated it to be Rs. 1 lakh crore annually (US$22.4 billion).
If the Bank Mitr network needs to be made more sustainable and ensure quality services, an adequate commission rate (MicroSave estimates this to be a minimum of 3%) for the first few years of PMJDY should be considered which can be reduced as the programme scales.
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办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
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办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
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1. MicroSaveMarket-led solutions for financial services
MicroSaveMarket-led solutions for financial services
CONFIDENTIAL AND PROPRIETARY
Any use of this material without specific permission of MicroSave is strictly prohibited
Clients on Client Protection
Reviewed by: Graham A.N. Wright
April 2012
2. MicroSaveMarket-led solutions for financial services
Table of Contents
1
2
Executive Summary
Where and How it all began?
3 What did we do in the research?
4 Who were the respondents?
5 What did clients Say?
5-6
7-8
15-16
2
Acknowledgements
List of Abbreviations
9-14
17-30
6 Lessons from the Use of Tool 31 - 35
7 Recommendations 36 - 39
8 Annexure 40-43
3. MicroSaveMarket-led solutions for financial services
Acknowledgements
3
MicroSave acknowledges the support received from seven financial service providers
in India, the Philippines and Bangladesh for carrying out this research. Without the
support of these organisations, this research would not have been possible in a short
period of time.
We cannot thank enough the 357 clients whose valuable inputs form the contents of the
report. These clients spared much of their time to give our teams insights into their
thoughts and feedback on client protection and on how the organisations are
performing in practice.
Last but not the least, MicroSave acknowledges the contribution of Smart Campaign
and the Client Voice Task Force (CVTF). The framework of questions have used the
seven principles advocated by the Campaign.
4. MicroSaveMarket-led solutions for financial services
List of Abbreviations
Abbreviation Full Form
CGT Compulsory Group Training
CPP Client Protection Principles
FGD Focus Group Discussion
GRT Group Recognition Test
MFI Micro Finance Institutions
PRA Tools Participatory Rapid Appraisal Tools
4
5. MicroSaveMarket-led solutions for financial services
Executive Summary (1)
• Client Research on Client Protection* was conducted in three countries – India,
Bangladesh and the Philippines – during February 2012 to April 2012.
• MicroSave developed ServQual tool which contains 2-6 questions to guide the
discussion of each principle. This qualitative research tool (attached as an annexure)
was used to understand the importance of client protection from clients‟ perspective
and performance of the financial service providers that clients were associated with.
• As a part of the tool, the teams conducted focus group discussions to capture
experiences and ideas of clients on client protection (the Philippines), ranking of the
principles (the Philippines and India) and question-wise performance rating of the
organisation (India and Bangladesh).
• Importance of Client Protection Principles. All the 7 CPPs are considered important
by clients in all three countries. However, when asked to rank them in their relative
importance, In India and the Philippines where the clients ranked the principles, fair
and respectful treatment of clients was ranked as the most important principle
followed by transparency. Mechanisms for Complaint Resolution and Privacy of
Client Data were two of the least important principles.
5
* For the purpose of the research, the client protection principles advocated by the Smart Campaign were considered.
MicroSave, a member of the Client Voice Task Force, has aligned the tool to Smart Campaign‟s principles to contribute to
the industry efforts on client protection.
6. MicroSaveMarket-led solutions for financial services
Executive Summary (2)
• Performance of the Participating Organisations. All the participating organisations
got very high rating from their clients on all the principles. On a scale of 5, all
organisations got scores of more than 4 on all principles. On a scale of 3, all
organisations for scores of more than 2.3. This indicates that clients are in general
happy with the performance of the organisation on their adherence to client protection.
• The results from the tool can help organisations such as Smart Campaign, financial
service providers and support organisations in the following manner:
• Smart Campaign: This tool can be used effectively to gather client inputs on
client protection principles. This can help in refining and fine tuning these
principles for even greater effectiveness.
• Financial Service Providers: This tool can help service providers to obtain
inputs from the clients themselves on how the service provider is
implementing these principles in the field. These inputs can then help in their
decision making to improve their practice on client protection.
• Support Organisations: Inputs from the tool can help support organisations
develop content and methodology to help financial service providers to
educate their clients on the principles which have low awareness levels. These
organisations can also include such research as core component in their
assessments or technical support.
6
8. MicroSaveMarket-led solutions for financial services
Inspiration for the Research
• Client protection principles are basic standards organisations should follow to
protect their clients. These are increasingly becoming important given the
increasing profile of the microfinance sector and the associated risks for clients and
microfinance institutions (MFIs).
• However, client protection measures generally not take into account clients‟ own
priorities which are likely to vary between regions. It is essential to have client-
focused approach and a firm grasp of respondents‟ own perceptions, needs and
aspirations.
• MicroSave‟s inspiration to conduct this research comes from the strong belief that
clients, who are the primary stakeholders, should be consulted in the process.
8
Given this backdrop, MicroSave, conducted a market research exercise to:
• Get client feedback on client protection principles developed by Smart Campaign
and endorsed by the industry and understand what elements clients consider to be
important in client protection and customer service
• Have clients rate the performance of the participating MFIs in adherence to CPP
• Test and refine a research tool to effectively gather client feedback on client
protection based on the Smart Campaign CPP framework.
Objectives
10. MicroSaveMarket-led solutions for financial services
Client Research: Methodology and Timelines
India
(1st leg)
Bangladesh
The
Philippines
India
(2nd leg)
10
The Final
Methodology
and Tool
7 to 9
February
2012
16 to 19
February
2012
20 to 24
February
2012
2 to 4
April
2012
Phase I Phase II Phase III
• Research on client protection was conducted in three countries – India, Bangladesh and the
Philippines.
• MicroSave developed a ServQual tool which contains 2-6 questions to guide the discussion
of each principle. This qualitative research tool (attached as an annexure) was used to
understand the importance of client protection from clients‟ perspective and performance
of the financial service provider that clients were associated with.
• As a part of the tool, the teams conducted focus group discussions to capture experiences
and ideas of clients on client protection (the Philippines), ranking of the principles (the
Philippines and India) and question-wise performance rating of the organisation (India and
Bangladesh).
• The teams used symbols (refer to the slide 12) to get feedback from respondents on the
importance of client protection principles and the performance of the institution.
11. MicroSaveMarket-led solutions for financial services
Evolution of the Tool*
11
Phase I
Phase II
Phase III
* To conduct client research on client protection, MicroSave team customised one of its
customer service tool called „ServQual‟Tool.
The tool involves a questionnaire that has a set of questions under each of the 7
client protection principles. The respondents are asked, on each of the
questions, to indicate how important is the issue raised on a scale of – high,
medium or low; and were immediately asked to rate the performance of the
organisation participating in the research on a scale of 1 to 5, 1 being very poor
and 5 being excellent.
Based on the feedback from the India (1st leg) and Bangladesh research teams,
the tool was slightly modified for the Philippines testing. Instead of asking
clients to rate organisations on question-by-question, they were asked to rank
the 7 principles based on their relative importance to clients. And then clients
were asked to rate the performance of the organisation on each principle. The
erstwhile questions of the tool were used as probes.
With the feedback from the research in all the 3 countries, final modifications
were made to the tool to test in low-literacy areas in India. This tool was a
hybrid of the 1st two phases tool. It had a set of questions under each CPP
which were then used to ask clients to rate the performance of the organisation.
After the clients grasped all the questions and get a hang of the CPPs, they
were then asked to rank the principles based on the importance clients perceive.
12. MicroSaveMarket-led solutions for financial services
Use of Symbols To Reach All Client Segments
12
India 1st leg
Importance
Factors
Current
Performance of
Institution
Very
Important
(H)
Excellent
5
Somewhat
Important
(M)
Good
4
Not
Important
(L)
Average
3
Poor
2
Very Poor
1
Mechanism for
complaint resolution
Privacy of client data
Fair and respectful
treatment of client
Responsible pricing
Transparency
Prevention of
Over-indebtedness
Appropriate product
design and delivery
India 2nd leg
13. MicroSaveMarket-led solutions for financial services
Administration of the Tool (1)
13
India
• 1st Leg
• Rating the question-wise
importance – whether the
issue raised in the question
is high, medium or of low
importance
• Rating the performance of
the organisation on a scale
of 1 to 5 (1 being the
lowest and 5 being the
highest)
• 2nd Leg
• Ranking of the 7 CPPs
using cards to get relative
importance
• Rating the performance of
the organisation on a scale
of 1 to 5 and 1 to 3 (to test
which scale works better)
Bangladesh
• FGDs and
structured open-
ended
questionnaire
• Rating the
performance of the
organisation on a
scale of 1 to 3 (1
being the lowest
and 3 being
highest)
ThePhilippines
• FGDs to capture
experiences and
ideas of clients on
client protection
• Ranking of the 7
CPPs using cards to
get relative
importance
• Rating the
performance of the
organisation on a
scale of 1 to 3 (1
being the lowest and
3 being highest)
• Probing questions
from the ServQual
Tool where required
16. MicroSaveMarket-led solutions for financial services
Sampling
16
• The research teams interacted with a total of 357 respondents in the countries of
India, the Philippines and Bangladesh
• The time period of these interactions is from February 2012 to April 2012
• In all, 59 focus group discussions and 23 individual interviews (only in India in the
first leg) were conducted
• The sample of respondents covered mostly urban clients, due to the Philippines
sample
• Education levels of the clients ranged from no literacy to graduates*
* For more details on the respondent profile, please refer to the respective Country research
reports
In India, these clients were
drawn from 5 finance service
providers, all of whom were for-
profit Non-Banking Finance
Companies
In Bangladesh (an NGO-MFI)
and in the Philippines (a
Community Development
Foundation), clients were from 1
institution each
136
84
16
66
55
0
50
100
150
200
India The Philippines Bangladesh
No.ofRespondents
Country-wise Respondents
Urban Rural
18. MicroSaveMarket-led solutions for financial services
On: Importance of Client Protection Principles
18
In the Philippines and in India 2nd leg research, clients were asked to rank the principles
in the order of importance. So, essentially the clients had to rank the importance of
principles relative to each other. In India, in the 1st leg of research, clients were asked to
rate the importance of each question / issue related to the principle. The ranks were then
summed up to get the average ranks per principle.
In Bangladesh, clients in all the groups said that all the principles were important to
them, so relative importance ranking could not be done.
19. MicroSaveMarket-led solutions for financial services
On: Importance of Client Protection Principles
19
• All the 7 CPPs are considered important by clients. However, when asked to rank
them in their relative importance, clients gave the ranks as mentioned in slide 18.
• Fair and Respectful Treatment of Clients is one of top most important principle
for clients believe that they should be treated with dignity. Good behaviour on the
part of MFI officials helps them want to form a relationship with the organisation,
and this increases their satisfaction with the MFI. In some places in India, clients
categorically mentioned that if the staff behaviour is bad, they would even switch
from one organisation to another. In the Philippines, clients describe the effect of
this principle as something that can enable them better express themselves, feel
heard and responded to, which develops trust to work with the MFI.
• Transparency is the close second important principle. Clients consider this
principle very important because they believe that clear information helps them take
decisions. In India, many respondents also referred to the need to explain the terms
and conditions to their husbands to get their approval. In the Philippines, clients
considered this important as this principle helps clients to avoid over-indebtedness;
plan better and develop trust with the MFI.
20. MicroSaveMarket-led solutions for financial services
On: Importance of Client Protection Principles
• Prevention of Over-indebtedness is in most cases the third important principle. This
is important for clients as they consider it as a necessary process done for their own
good - if they / anyone defaults because of over-indebtedness, it affects future access to
capital. Also in case other group members default because of over-indebtedness, they
bear the financial burden of the consequent default and joint liability.
• In India, in some groups, clients believed that it is the moral responsibility* of the MFI
to check if clients are over-indebted.
• In the Philippines, clients mentioned that laxity by the MFI in enforcing the repayment
obligation by a delinquent client or “co-maker” (guarantor) can erode credit discipline
of other clients in the community. The MFI should take appropriate action against
delinquent clients and make them accountable.
20
* This note represents a significant departure from group lending where the group does the credit assessment and takes
responsibility ... The clients are describing the foundation of individual lending! This response is consistent in both the
countries. The reason is that clients thought it is a good thing for the MFI to check at second level (the first being the clients
themselves selecting the group members after assessment). This gives them more confidence.
21. MicroSaveMarket-led solutions for financial services
On: Importance of Client Protection Principles
• Responsible Pricing is the next important principle. Clients are concerned about the
interest rates and desire that it should be as low as possible to minimise their cost.
• In both India and in the Philippines, clients said they care about:
(a) interest they receive on any type of amount they pay to MFIs before
obtaining loans (for example, in the form of capital contribution or security
collateral etc) or
(b) Savings, which should grow through payment of interest by the MFI.
Thus if the MFI uses their money to on-lend to other people and earn from it, they
would like to earn interest on their savings.
• In some groups from India, clients said that this is an component which is to be
considered before taking a loan but they said that if all the other needs are met, then
they might be willing to take loan on a higher interest rate. They also stated that if the
MFI behaves well with them, they would not mind paying slightly more because their
respect is of prime importance to them.
• In the Philippines, clients viewed responsible pricing as: 1) knowing the interest
involved and having agreed to it, 2) it is low enough that they can pay it easily, and 3)
if there is a processing fee, it should be small enough to cover the MFI‟s cost and not
increase as the loan size increases.
21
22. MicroSaveMarket-led solutions for financial services
On: Importance of Client Protection Principles
• Appropriate Product Design and Delivery is important for clients as they believe that
the right products (in India which centred mainly around loans that meets their business
needs and in the Philippines on a judicious mix of loans, savings and insurance) and
features (loan size, repayment frequency, frequency of group meetings, etc) will help
them fulfill their needs without much difficulty.
• In both India and the Philippines, clients expressed satisfaction with the products,
however, the loan size appears to be the biggest stumbling block. Clients, especially in
India, allege that they almost never get as much as they need and that delays in loan
disbursement are common and lead to losses.
• Some groups mentioned that they would pay even higher interest if they get right
products. Some groups (mostly in West Bengal and some in Bihar, India) also
mentioned the improvements they would like to see:* bigger loan amounts, lower
interest rates, faster loan processing times, fewer procedures for old clients, and loan
disbursement at the centre.
• Some of the old and loyal clients complained about the time wasted in attending CGTs
and GRTs and the amount of time taken from group formation to loan disbursement.
22
* Many of these issues such as bigger loan amounts and fast loan processing times were
acknowledged by respondents as being the result of the current funding crisis in India.
23. MicroSaveMarket-led solutions for financial services
On: Importance of Client Protection Principles
• Mechanisms for Complaint Resolution, though is important, is one of the least
important principles for clients. This is very much influenced by the current situation –
that the clients (that participated in the study) did not have too many complaints about
the MFIs – hence did not see too much importance in having a resolution mechanism in
place even for future.
• However, clients recognised the need for a mechanism for complaint resolution when
they have problems about the policies and inaccuracies in recording of transactions. In
cases like this, they turn to the loan officer and the branch office to resolve their
complaints.
• In the Philippines, clients said that they would turn mainly to their client leaders –
Centre Chief and Officers, for help. In India too clients said that some problems,
especially related to repayments etc, are resolved within the group and no longer need
attention from the staff.
23
24. MicroSaveMarket-led solutions for financial services
On: Importance of Client Protection Principles
• Privacy of Client Data is also one of the least important principles. It was the least
important in both the India studies while the clients in the Philippines ranked this as
second last important principle (above mechanisms for compliant resolution).
• In India, the reason for such ranking is mainly two reasons: (a) clients had a hazy
understanding of privacy issues how their data can be used by the MFI; and (b) if they
are good borrowers, even if their data (read repayment data) is shared, they should not
be worried. However, they did not want certain data to be shared with external parties –
such as loan size – as they may be mocked. In India, where the credit bureaus are
established, clients were asked about sharing of data with the credit bureaus. Most of
the clients knew about this – if not the name of credit bureau, they at least know that
their loans with other organisations are kept in a computer which all organisations can
access before giving them a loan.
• In the Philippines, clients expressed strong feelings about the importance of keeping
client data confidential and secured. Loan size and repayment record are two key client
data that should be protected according to clients. Clients equated trust to the capacity
of the MFI to keep client data confidential. Clients are firm about their right to decide if
and when they can share their information.
24
25. MicroSaveMarket-led solutions for financial services
On: Performance of the Organisations
25
4.34
4.92 4.86
4.41
4.95 4.85
4.34
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
Appropriate
Product Design
and Delivery
Prevention of
Over-Indebtedness
Transparency Responsible
Pricing
Fair and
Respectful
Treatment of
Clients
Mechanisms for
Complaint
Resolution
Privacy of Client
Data
AverageScore(onascaleof5)
Performance of the Organisations (India 1st leg – on a Scale of 5)
In general, clients were happy about all the organisations‟ performance across all client
protection principles. On a scale of 5, all the MFIs scored more than 4 on all principles -
which means clients considered the organisations‟ performance good.
26. MicroSaveMarket-led solutions for financial services
On: Performance of the Organisations
26
2.83 2.83
3.00
2.88 2.83
3.00
2.88
2.67
2.92 2.88
2.38
2.69
2.58
2.79
2.54
2.71
2.90
2.63
3.00
2.56
2.64
0.00
0.50
1.00
1.50
2.00
2.50
3.00
Appropriate Product
Design and Delivery
Prevention of Over-
Indebtedness
Transparency Responsible Pricing Fair and Respectful
Treatment of Clients
Mechanisms for
Complaint
Resolution
Privacy of Client
Data
AverageSvore(Onascaleof3)
Comparative Performance Scores (On a Scale of 3)
Bangladesh The Philippines India
In all 3 countries, clients have given high ratings for organisations on all principles. On a
scale of 3, all the organisations have scored more than 2.30 with some organisations
getting a score of 3 out of 3 in some principles.
2nd leg
27. MicroSaveMarket-led solutions for financial services
On: Performance of the Organisations
1st leg
Fair and Respectful Treatment of Clients
Prevention of Over-indebtedness
2nd leg
Fair and Respectful Treatment of Clients
Transparency
1st leg
Appropriate Product Design and Delivery
Privacy of Client Data
2nd leg
Appropriate Product Design and Delivery
Mechanisms for Complaint Resolution
27
Prevention of Over-indebtedness
Transparency
Responsible Pricing
Mechanisms for Complaint
Resolution
Transparency
Mechanisms for Compliant
Resolution
Appropriate Product Design and
Delivery
Prevention of Over-indebtedness
Fair and respectful Treatment of
Clients
Bangladesh The Philippines
India
Indicates top 2 ratings by clients about
organisations‟ performance on the
adherence to the principles
Indicates bottom 2 ratings by clients about
organisations‟ performance on the
adherence to the principles
28. MicroSaveMarket-led solutions for financial services
On: Performance of the Organisations
• In Bangladesh, clients rated the organisation high on transparency and mechanisms
for complaint resolution. This is because clients thought that the field staff explain all
terms and conditions very clearly to them and all the records (loan cards, passbooks
etc) are updated soon after the transactions are completed.
• Though the organisation in question is an old NGO-MFI that offers multiple products
to clients, clients gave low ratings to the organisation on „appropriate product design
and delivery‟. This was mainly due to its loan product features that do not give much
flexibility in loan amount and are determined by loan cycle ceilings, not clients‟ needs.
The other two least rated principles are prevention of over-indebtedness and fair and
respectful treatment of clients. The reason for low rating on prevention of over-
indebtedness is that inflexibility in the repayment schedule which remains so even in
emergency situations such as accident, illness.
• In the Philippines, clients rated the organisation‟s performance on prevention of over-
indebtedness high as they perceive that there is thorough conduct of credit
investigation and staff are very helpful when there are repayment problems.
Transparency was rated high because clients find that they have been given sufficient
information to make their decisions. Responsible pricing was rated low because of the
perceived zero interest on savings and charging of processing fee that is based on loan
size. The lack of a clear procedure for addressing complaints in a timely and
satisfactory manner lead to the low rating of the principle on complaint resolution.
28
29. MicroSaveMarket-led solutions for financial services
On: Performance of the Organisations
• In India, in both the first and second legs of research, clients across felt that
organisations are very good in treating clients in a fair and respectful manner. In
particular, clients thought that MFI staff behaved in a fair and respectful manner with
them. The loan officers are quite professional and courteous even while dealing with
such clients who are unable to repay on time. In the first leg of research, organisations
were rated high for their performance on „prevention of over-indebtedness‟.
• Respondents were very satisfied with the organisations‟ process of clients‟ repayment
capacity evaluation. The field staff assesses the loan repayment capability of the clients
before granting loans and makes house visits. Clients said they generally do not face
any kind of pressure from the MFI to take loans. In fact, the MFIs insist that clients
should take loans only when they need it. In the second leg of research, transparency of
the organisations was rated high because clients find that they have been given
sufficient information to make their decisions.
29
30. MicroSaveMarket-led solutions for financial services
On: Performance of the Organisations
• In both the legs of research, „Appropriate Product Design and Delivery‟ was one of the
lowest rated principles for the organisations. Clients feel that the loans are not always
sufficient to meet their business needs. They have to reach out to other sources to
arrange their funds.
• „Privacy‟ (in 1st leg of research) and „Mechanisms for Complaint Resolution‟ (in the 2nd
leg of research) were lowest rated principles. Clients were not aware of the way in
which the MFIs are going to use their data (which included all the personal information
collected, ID proofs collected and photos).
• On complaint resolution mechanism low rating was given as in most cases the clients
did not know whom to contact for registering a complaint. The only contact details
they had was of the loan officer or the branch manager, which may not always suffice.
30
32. MicroSaveMarket-led solutions for financial services
Pre-requisites for Using the Tool
• Knowledge of the assessee organisation‟s products & services, systems, processes and
terminologies is required:
• This helps in assessing the awareness levels of respondents.
• Use of similar terms for staff and clients, e.g. in the case of the Filipino organisation,
clients are referred to as “partners”, to facilitate communication with respondents.
• Moderators and assistant moderators responsible for administering the tool should be trained
on:
• Qualitative market research techniques and in particular moderating focus group
discussions [similar to MicroSave‟s Market Research for Microfinance (MR4MF)
toolkit]
• Social Performance Management and Client Protection Principles
• Administration of the tool itself
• Data analysis
The training and expertise outlined above will help the moderator probe deeper into the
clients‟ experiences and thoughts on a topic - client protection - that clients are not used to
talking about or even thinking about. The moderator has to break through the common
mindset among most clients to be passive and to accept without question the terms, policies
and practices of MFIs they are connected with.
32
33. MicroSaveMarket-led solutions for financial services
What worked in the process of using the tool (1)
Introduce the exercise as a learning opportunity for the clients – Inform clients that
their active participation will enrich the discussion and add knowledge to everyone.
They can also consider it as an opportunity to give their inputs to the MFI towards
improved customer service.
After the initial introductions, statement of purpose and warm-up questions would
be a good start. In Philippines where the clients were more literate, the research team
probed questions such as “How would you want to be treated as a client?” (core
question) or “What should the MFI do to make you satisfied as a client ?”(probing
question). These are similar questions translated in the local language that have helped
set the tone for a free flowing discussion with clients. In less literate environments, the
warm-up questions would be much simpler as their association with the organisation in
research etc.
33
34. MicroSaveMarket-led solutions for financial services
What worked in the process of using the tool (2)
ServQual tool followed by Ranking of Principles: In India‟s second leg of research it
helped to first ask a set of questions under each principle and let the clients rate the
performance of the organisation on each of the issue raised in the question. Then the
clients were asked to rank the principles in the order of importance. It helped in the
following ways:
• Relatively short and easy to conduct: Use of ranking instead of asking questions on
importance of principles helped to keep the session at ease and minimal fatigue on the part of
clients. Ranking on the other hand, helped to yield better responses in terms of relative
importance of the principle for the clients.
• Smooth conduct of sessions: A brief discussion on each of the principles by way of
administering the ServQual tool before ranking, helped the clients to have a better
understanding about the principles before they could rank it.
Process the rating: Clients should be asked to explain the basis of their rating. A
consensus will then be asked to come up with a group rating. Based on experience in
all three countries, the group tends to settle for the higher rating. This shows that when
given the chance, clients do not want to be too critical of MFI practices. This could be a
sign or respect to the MFI whom clients acknowledge as going out of their way to help
them. However, the moderator should probe and try to rationalise the rating by probing.
34
35. MicroSaveMarket-led solutions for financial services
What worked in the process of using the tool (3)
3-scale Vs 5-scale : The teams found that considering the low literate clients, 3-scale
worked better than 5-scale because of the following reasons:
• It was difficult to explain the concept of 5-scale to the respondents. The hurdle is to
explain them the thin line of difference between 4 and 5 points or 2 and 1 on a 5-
scale. It moreover does not yield substantial reasons to justify their score.
• It takes lesser time to explain and sink in the concept with the usage of 3-scale for
ranking.
• It was observed during the sessions that people often give a score of 4 on 5 scale in
the hope that there is some improvement in future but the “How” answer is not
available with them. On the other hand, people give 2 on a 3 scale only if they see
any room for improvement. So they give substantive answers to back their score.
Process the ranking. To deepen the basis for the ranking of principles, the moderator
poses questions to make clients provide explanations. The explanations or the rationale
for the ranks is more important than the ranks themselves. When given more time and
discuss the basis of the ranking, it is not unusual for client groups to revise and
rearrange the ranking.
35
37. MicroSaveMarket-led solutions for financial services
Final Methodology Suggested
Introduction and Warm-up Questions
Ask a set of Questions under each CPP and ask the
clients to rate the performance of the organisation on that
aspect (scale of 3). Probe reasons for rating and
document them
Explain to them that these questions were about a category
of principles – and introduce the principles with each
principle written on a card / symbol for each principle
Ask the clients to rank the 7 principles in the order of
importance and probe reasons for ranking and document
them
Wrap-up and Thank the clients for their time
37
This process of
administering the tool
should take 40-45
minutes with each
client group
38. MicroSaveMarket-led solutions for financial services
Inputs for the Smart Campaign
• Getting client feedback on the CPPs
• Objective: To get client feedback on and confirmation of the importance of CPPs
• Using the ServQual tool developed by MicroSave can accomplish the above
objective with value added benefits of increasing client awareness on CPPs and
of providing inputs for MFIs to improve social performance practices
• Principle Alignment. Review of CPPs or its sub-components based on inputs from
clients that are not clearly reflected in CPP details. For instance:
• Filipino clients expressed the need for MFI protection from delinquent clients!
Clients are concerned that their continuing access to microfinance and other
related products will be affected with the inability of the MFI to effectively instil
credit discipline to all clients. Also, Filipino clients expect MFIs to provide them
access not only to financial but also to non-financial products and services. In
particular, they want MFIs to give them advice on debt and financial
management practices through regular visits of staff to assess the status of their
respective businesses.
• In India, the issue of time wasted in attending CGTs and GRTs had come up,
especially from the old clients. Smart Campaign can include this as one of the
aspects of appropriate product delivery.
38
39. MicroSaveMarket-led solutions for financial services
Inputs for Others
For Financial Service Providers
• Getting client feedback on the CPPs
Getting client feedback on the implementation of client protection is very helpful
for the financial service providers. Clients, for whose protection these principles
were designed in the first place, will be in a better position to give inputs on how the
service provider is implementing these principles in the field. Financial Service
Providers if get such inputs from the clients directly, it can help in their decision
making related to improving their practice.
For Support Organisations
• Client education and creation of awareness on client protection
The awareness levels of clients, more so on certain principles such as privacy of
client data and mechanisms for complaint resolution are low. Support organisations
can develop content and methodology to help financial service providers to educate
their clients on this.
• Including Client Research as core components in assessments or technical
support
39
42. MicroSaveMarket-led solutions for financial services
Client Protection Principles: A Summary (1/2)
Source: Smart Campaign Website http://www.smartcampaign.org/
1. Appropriate product design and delivery
• Providers will take adequate care to design products and delivery channels in
such a way that they do not cause respondents harm
• Products and delivery channels will be designed with client characteristics
taken into account
2. Prevention of over-indebtedness
• Providers will take adequate care in all phases of their credit process to
determine that respondents have the capacity to repay without becoming over-
indebted. In addition, providers will implement and monitor internal systems
that support prevention of over-indebtedness and will foster efforts to improve
market level credit risk management (such as credit information sharing)
3. Transparency
• Pricing, terms and conditions will be set in a way that is affordable to
respondents while allowing for financial institutions to be sustainable.
Providers will strive to provide positive real returns on deposits.
4. Responsible Pricing
• Pricing, terms and conditions will be set in a way that is affordable to
respondents while allowing for financial institutions to be sustainable.
Providers will strive to provide positive real returns on deposits.
42
43. MicroSaveMarket-led solutions for financial services
Client Protection Principles: A Summary (2/2)
5. Fair and respectful treatment of respondents
• Financial service providers and their agents will treat their respondents fairly
and respectfully. They will not discriminate. Providers will ensure that
adequate safeguards are in place to detect and correct corruption as well as
aggressive or abusive treatment by their staff and agents, particularly during
the loan sales and debt collection processes.
6. Mechanisms for complaint resolution
• Providers will have in place timely and responsive mechanisms for complaints
and problem resolution for their respondents and will use these mechanisms
both to resolve individual problems and to improve their products and services.
7. Privacy of client data
• The provider complies with all local data privacy laws. Client information is
only used in the ways agreed upon at the time of data collection.
43
44. MicroSaveMarket-led solutions for financial services
44
MicroSave (Head Office)
B-52, Mandir Marg,
Kapoorthala Crossing, Mahanagar Extension,
Lucknow-226006, UP, India.
Tel: +91-522-2335734
Fax: +91-522-4063773
info@MicroSave.net
MicroSave Offices
Delhi Lucknow
Hyderabad
Manila
Jakarta
Kampala Nairobi
Port Moresby