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National Rural/Urban Livelihood Missions (NRLM/NULM)
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During workshops on NRLM and NULM, it was revealed that there are different subsets of people that remain
excluded like transgender, persons with disabilities, minorities and elderlies. Different strategy/mechanisms are
required to cover these subsets of the MF segments as it is difficult to form SHGs/JLGs of such segments.
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In the recommendations section of the report the authors should suggest that whenever a large government
programme like NRLM is introduced at community level in every state of the country an effort should be made to
consult all the stakeholders of a state and develop specific norms for that particular state.
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We should also map large programmes like NRLM and how these programmes locate financial institutions.
(Navin Anand, Meera Mishra, Jaipal Singh, Smita Premchander)
Cooperatives
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There is need for a national study of cooperatives. We need to classify between the urban and rural cooperatives
as most of the urban cooperatives have been doing very well in many areas. The government is not providing any
support to these institutions.
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As suggested by Solution Exchange, in its presentation, areas like cooperatives, and producer organisations needs to
be covered in more significant way.
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The MF CoP conducted a separate discussion on the issue of financial cooperatives in partnership with Rabo
Bank. The issues related to cooperatives are many like regulations, functioning of Urban and Rural Cooperatives,
Self-Reliant Acts or Traditional Cooperatives Acts. A lot more needs to be done on financial cooperatives as well.
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Attention should be given to Cooperatives, we have serious problemwith data, especially with self-reliant cooperatives
as there is no data available nor anyone is collecting the data.
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Sampark has Self Reliant Cooperatives with 11,500 women but except NABFINS no other bank or financial insti-
tutions are funding them. Even SRLM refuses any sort of partnership with these cooperatives. Out of nine states,
two have repealed Self Reliant Cooperative Act and it is almost defunct in remaining seven states. We expect some
advocacy for these cooperatives through the report.
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Cooperatives are important stakeholders that have relevance in Financial Inclusion. While cooperative banks have
been there for more than hundred years but are largely out of formal definitions of FI. These banks have evolved a
lot in last couple of years and have enhanced their capabilities with technology based interventions like adopting
CBS platforms. GIZ has worked with NPCI and NABARD to bring these banks on board for formal payment
systems like RuPay card and mobile banking. The cooperative banks are evolving and the ones which are most close
to the rural poor and main stream farmers. These can be good case study related to technology being leveraged and
included in the report.
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NABARD-supported NABFINS has started financing producer companies, some cooperatives have also started
supporting producer organisations apart from SHG and JLGs but commercial banks and other financing institu-
tions still need to open up.
(Amit Arora, Smita Premchander, Meera Mishra, Navin Anand)
Interest Free Microfinance
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Micro equity support model is a Shariah compliant product that has been piloted in Mewat. It’s a profit sharing
model which has given 100 per cent result. In fact, this model has generated more income than interest driven
