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models. In Mewat a lot of MFIs and banks have burnt their fingers but this model has gained 100 per cent success
due to participatory finance model which is also a good model for the poor and needs to be highlighted in the report
as an innovative and alternative model of financing.
(Anoop Kaul)
Client Protection
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Inclusive Finance India Report
will bring a change in the approach of the report as the report will lay more focus on
clients, customers, people, and looks at the whole sector from client’s perspective.
•
The client protection and certification initiatives also need to be documented. What does client protection means
under new models like Business Correspondent Model and in context of savings? This needs to be discussed in
the report.
(Amit Arora, Navin Anand)
Differentiated Banking
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Now after Nachiket Mor Committee report, we have started talking about differentiated banking but even the
large MFIs don’t have the wherewithal to graduate to a bank. A graduation strategy could be looked at in the report
as the new financial architecture of differentiated banks make a strong pitch for creating a new category of banks
which becomes a way for the MFIs to graduate. The differentiated banking structure and impediments like capital
requirement in moving towards differentiated banking.
(Vipin, Pallavi)
Micro Finance Policy
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It is important to cover policy development in financial inclusion and see what are the implications of Nachiket Mor
committee and other committees. The question of bank licenses, new channels, payment banks, how and what are
the implications of these for financial inclusion efforts in the country is also to be covered in the report.
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Technology has been a dictator in terms of ensuring the connectivity at the last mile and unless we have a facilitative
policy framework we cannot harness technology completely.
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The Policy Practice Atlas was initiated by MF Community of Practice, Solution Exchange, UNDP. All the circulars
issued from 1989 by RBI, NABARD and Ministry of Finance are incorporated in the document. It contains around
300 pages and is useful for Bankers, practitioners, MFI, it is one of its kind initiative in India.
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Another challenge is left wing extremism area, even MFIs are not present in those areas. We are open to suggestions
and window of policy is open for government.
(Ajay Tankha, Tara Nair, N. Jeyaseelan, R.K. Singh)
Technology and Innovation
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Efficiency of multiple channels and the role of technology needs to be discussed separately in the report.
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The role of Government and the role of technology in financial inclusion should be taken up in the report. A huge
amount is invested by the government in Aadhar/ UID cards initiative. It is now time to analyse the benefit of the
