Convergence and Collaborations: Scaling Up Financial Services to the Poor
This conference report highlights the need to reassess prevalent interventions and collaborations between the government, NGOs, and the banking sector for scaling up the outreach of microfinance services to the poor in India. It aimed to identify key challenges in providing microfinance services to the poor.
The conference facilitated the sharing of experience among all stakeholders with existing delivery models. It also outlined the way forward in optimizing the outreach and viability of financial services to poor communities. The conference was attended by government representatives, policy makers, bankers, and members of various NGOs and MFIs from across the country. Issues identified for discussion at the conference include:
- Need for capacity building of NGOs, MFIs, and banks;
- Creating an enabling legal and regulatory environment for NGOs and MFIs to provide financial services to the poor;
- Facilitating optimal usage of the existing infrastructure including co-operative banks, regional rural banks, and NGOs;
- Identification of delivery channels for providing financial services to poor communities;
- Lessons derived from existing partnerships and collaborations in the microfinance sector;
- Upscaling of the SHG-bank linkage program.