Comments on India Development Blog: MFIs in India: Is the next challenge scale or flex...

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2010-02-20T16:18:34.966+05:30

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2010-02-02T15:33:49.136+05:30

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Drawing from our lessons in the KGFS work of IFMR ...

2009-06-09T10:31:41.783+05:30

Drawing from our lessons in the KGFS work of IFMR Trust, I feel that the ability to deliver on flexible and comprehensive financial services hinge critically on: 1. Processes that really build understanding of customer needs and appropriate product responses 2. the training infrastructure that can build capability in the front-line staff to handle variety and complexity 3. back-end technology that can deal with daily interest computation, pre-payments and part-payments 4. for larger loans, simple ways of assessing and mitigating enterprise/supply chain risk.

So there is some re-engineering at the backend that is required (not hard)so that this flexibility can be delivered, even where the desire to do so exists for the MFI.

Nachiket, I agree that the KGFS model, in which br...

2009-06-08T20:32:39.498+05:30

Nachiket, I agree that the KGFS model, in which branches are set-up in rural areas that aim to serve all the potential customers in the area, from wealthier to poorer, with a range of products (e.g., credit, savings, insurance) is innovative. Really, my post was an argument for experimentation and product mix, and KGFS is one of the leaders in building off credit to provide more comprehensive financial services. In a way, I am arguing that other institutions, including MFIs with large footprints already, should also create more flexible products for their clients.

Rachit, it's great to hear that Ujjivan has developed targeted loan products that increase in loan size. Thanks so much for bringing this to our attention.

I agree with you dear Indian microfinancing system...

2009-06-08T10:08:45.664+05:30

I agree with you dear Indian microfinancing system is good way to develop India , and I think Indian money market should be spread because still now , it is limited upto the main dealers of commercial banks and it must grow upto poor and middle person of India after this we can take the dream of development of india

I am currently an intern at Ujjivan Bangalore. At...

2009-06-06T13:46:31.008+05:30

I am currently an intern at Ujjivan Bangalore.

At Ujjivan, we do have a few loans tailor made for the needs of the customers. The successful entrepreneur can get an Individual Borrowing Loan (IBL) that can typically be around Rs 50,000.

We even have education loans that are disbursed during the season of school admissions.

However, I agree that MFIs need to keep innovating on creating products that serve the poor better. There is definitely a lot to be done with respect to repayment cycles.

I feel that it may be useful for the IFMR Research...

2009-06-06T08:30:25.568+05:30

I feel that it may be useful for the IFMR Researchers to take a closer look at the work of IFMR Trust (www.ifmrtrust.co.in) and its KGFS model. It speaks specifically to the challenges that you and Justin raise. They are also collaborating, along with, CMF with the Centre for Global Development on systemic issues that would arise for their approach towards providing comprehensive financial services to low-income communities.