“The Seven Steps to Save the Soul of Microfinance”
Mr Larry Reed, Director, Microcredit Summit Campaign started the first session of the day by re-emphasizing the need to view Microfinance as a poverty alleviation tool and listed seven steps, which in his view were important for the future of microfinance:
- Recognize excellence: Recognizing that clients are the ones who are striving to get out of poverty and microfinance is merely a tool. He spoke of the need to learn from successes (best-case practices) in the sector.
- Be Transformative: Acknowledging that microfinance is only one tool to eradicate poverty and not the only tool, and needs to combine with other products meeting the clients’ needs.
14 comments:
The banking industry has shown tremendous growth in volume and complexity during the last few decade in India. In India the focus of the financial inclusion at present is confined to ensuring a bare minimum access to a savings bank account without frills, to all.
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You created a good summary of micro financing and now it is clear to me. I think I should work on itil incident management so that I can add more ideas to the business that I am managing.
Perhaps that should be the start of focusing India on the source of business in the country. Many free financial modelling courses start on the basic steps of businesses: getting to know microfinance.
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The Indian banking industry has to focus on helping the rural farmers and rural people in developing rural project.
Financial inclusion is a must if India wants to develop economically
very good summary of micro financing
now clear all about microfinance
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