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It is evident that elderly need different microfinance products such as mobile banking services, efficient remittance
and payment services so that they can transfer and receive money conveniently. These people also need reverse mortgage
schemes/products as some of them are having valuable properties in their names but not having liquid money required
at the time of emergencies, medical treatment and hospitalization. Members also shared that based on the discussion
on National Policy for Older Persons in Microfinance community, the revised version of the policy is having a clear
section on microfinancing. It will be useful if the report covers issues related to microfinance for the elderly.
Inclusion of a Chapter on Cooperatives in the Report:
Cooperatives have seen a major change in the
enabling environment, with a threat to Self-Reliant Cooperatives, which are not fully integrated in the data and state
support systems, despite official claims of commitments to cooperatives. A separate chapter could be devoted to cover
cooperatives.
Coverage of the Status of Voluntary Savings:
After the release of SHG-2 (SHG bank linkage programme Phase
II) circular, voluntary savings is given due importance by NABARD and study of the pilot phase was undertaken and
incorporated in the annual report of NABARD. References and output of the studies on voluntary savings can be given
in the
Inclusive Finance India Report
. It will be good to have some analysis on the status and mechanism of collecting
voluntary savings by SHGs, federations and other institutions in the report.
Coverage of National Level Apex Finance and Development Organizations:
Mentioning about six
national-level apex finance and development organizations such as National Scheduled Caste Finance and Develop-
ment Corporation; National Minorities Finance and Development Corporation; National Handicapped Finance and
Development Corporation; National Safai Karamcharis Finance & Development Corporation; National Backward
Classes Finance and Development; and National Scheduled Tribes Finance and Development Corporation, members
suggested sharing the programmes and challenges faced by these organizations in the
Inclusive Finance India Report
.
These apex institutions offer very good programs, but, the schemes do not reach the target groups.
Poorest States Inclusive Growth (PSIG) Programme:
As a part of the Poorest States Inclusive Growth (PSIG)
Programme, some studies were conducted for Access to Finance, in four States: Madhya Pradesh, Bihar, Uttar Pradesh
and Odisha. These studies contained a good overview of the situation in these States, perspectives of stakeholders and
recommendations for going forward. The key lessons of these studies can be shared in the report.
Financial Capability:
The concept of Financial Capability is developed by GIZ in consultation with rural households,
covering members of SHGs, PACS, MFI clients and financially excluded people. A study of GIZ gives a good
understanding of the demand side capabilities that need to be built, and environmental factors needed for enabling
meaningful financial inclusion. The concept and the study on financial capability undertaken by GIZ can be shared in
the report.
Coverage of Impact Studies:
The earlier microfinance conferences, in 2009 and 2010 had sessions on impact of
microfinance. The focus has, since, moved to social performance. Social performance shifts attention to institutional
responsibility, and to customer protection, leaving the issue of impact of microfinance under-studied. The report will
do well to cover an analysis of impact studies that have taken place in the past three years.
Quick Study of Financially Excluded People:
A quick study should be done with a sample of financially excluded
people across the country to understand their perspective, needs and experiences. This will help in putting up a road
map of financial inclusion.
