Tuesday, 6 December 2011
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Wednesday, 22 June 2011
Jairam Ramesh, union minister of state for environment and forests, said the current bank-linked SHG model of AP does not offer a bouquet of financial products the way MFIs could offer. Also, while MFIs lending was more borrower driven meeting the needs, timing and quantum of loan of borrowers, the bank-linked SHG model was more bank driven.
“Both nature and timing of financial product is not borrower driven but bank driven in bank-SHG linkage program. This is the inherent limitation in bank-SHG linked model,” he said delivering keynote address at global summit on microfinance in Hyderabad on Tuesday.
Tuesday, 21 June 2011
Hyderabad, Jun 20: The three-day international summit on the theme of ' and Inclusive Development' begins here from tomorrow.
The Society for Elimination of Rural Poverty (SERP), Government of , in association with Natinal Rural Livelihoods Mission (NRLM) of and International Network of Alternative Financial Institutions (INAFI) were the summit, Minister for IKP, Women and Children V Sunitha Laxma Reddy said at a press conference here today.
Ms Reddy said on the opening day of the Summit, Andhra Pradesh Chief Minister N Kiran Kumar Reddy would deliver the inaugural address while Union Minister of State (Independent Charge) for Forests and Environment Jairam Ramesh would deliver the keynote address.
She said there was a greater concern across the globe that micro-finance programmes had been drifting from the original purpose and moving away from the primary objective of addressing poverty rather than being more concerned with the sustainability, resulting in gross commercialization with its attendant impact or chasing profits at the expense of clients.
The Minister, however said, the alternative perspectives of community ownership, building social capital through microfinance and leveraging microfinance for larger development process and outcome had been expressed well in many microfinanceprogrammes across the globe, particularly in Asia. Microfinance practitioners from the countries such as Bangladesh, Philippines, Afghanistan, Nepal, Srilanka, Africa and USA were attending the summit.
Ms Reddy said on the second day of the summit, the delegates would visit the villages and interact with the communities, with whom the SERP was implementing poverty reduction programmes and announced that the credit flow to Self-Help Groups (SHGs) through Banks accounted to Rs 9,000 crore in 2011-12 as against Rs 7,800 crore in 2010-11.
Parallel sessions on various themes related to microfinance issues and challengs to evolve strategies and way forward for inclusive development would also be held where success of SHGs will be showcased.
Government of India's National Rural Livelihoods Mission (NRLM) and the International Network of Alternative Financial Institutions (INAFI), India, have joined forces with AP to correct what is termed as the 'mission drift' caused by gross commercialisation of microcredit in the last 3-4 years.
The two organisations, along with AP's Society for Elimination of Rural Poverty (SERP), are organising the fourth Alternative Summit, an international event, here from June 21 to 23. The theme is ‘Microfinance and Inclusive Development'. SERP spearheads the self-help group movement under the state rural development department initiative.
In AP, the MFI operations have come to a standstill with the fate of Rs 6,500-crore microcredit outstandings hanging in balance. The state insists on regulating the MFI activities backed by the special legislation it brought out last year even as RBI thinks there is no need for such a regulation.
Apart from microfinance practitioners from countries such as Bangladesh, Philippines, Afghanistan, Nepal, Sri Lanka, Africa and USA, the event is being attended by senior officials from both the state and the Centre besides the World Bank and the RBI. Union Minister of State for Environment and Forests Jairam Ramesh and chief minister N Kiran Kumar Reddy will inaugurate the event tomorrow.
About 75 overseas delegates, 130 members representing community groups and 150 representatives from various NGOs are taking part in the event, according to Sunita Laxma Reddy, minister - Self-Help Groups and Women's Development.
SERP chief executive officer Rajasekhar said the government would soon announce the details of the proposed NBFC being exclusively set up for catering to the microcredit needs of women self-help groups in the state. The NBFC would be launched with a corpus of Rs 300-400 crore contributed by both the Centre and the state government apart from other financial institutions.
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Giving the details, Minister for Women Development and Child Welfare and Indira Kranthi Patham (IKP) Sunita Laxma Reddy told reporters here on Monday that the three-day fourth international summit ‘International Alternative Summit on Microfinance and Inclusive Development' will have ‘Microfinance and Inclusive Development' as its main theme.
It was being organised by Society for Elimination of Rural Poverty (SERP), AP Government in association with the National Rural Livelihoods Mission (NRLM) of Central Government and International Network of Alternative Financial Institutions (INAFI).
Ms. Sunita said that about 75 participants from countries like Bangladesh, Philippines, Afghanistan, Nepal, Sri Lanka, and USA were attending the summit along with the representatives of SHGs, government, NGOs and banks.
Announcing this at a press conference on Monday, women development and child welfare minister Sunita Laxma Reddy said the microfinance summit, in which MFI practitioners will take part, would focus on sharing knowledge and practice on advancing development of the power with dignity.
The minister said that microfinance in the state had shown an increasing trend of drifting towards crass commercialisation, resulting in many poor families falling into debt trap. This had made the government to introspect as to what had gone wrong with microfinance and also think of ways to put it back on the track.
Microfinance practitioners from Bangladesh, Philippines, Afganisthan, Nepal, Sri Lanka, Africa and USA are among the countries participating in the summit. On the second day of the summit, the delegates will visit and interact with communities with whom Society for Elimination of Rural Poverty is implementing poverty reduction programmes. Chief minister N Kiran Kumar Reddy is slated to inaugurate the programme and Union environment minister Jairam Ramesh will deliver the keynote address.
Saturday, 18 June 2011
According to him, the main objective of this conference seeks to link up immigrant associations in the developed world to microfinance institutions in Africa, towards building the necessary confidence so that immigrant organizations and people from Africa can have the confidence to remit money and also to create the necessary environment for people in Africa, to put the money into good use.
Mr. Tony Fosu emphasized that if Africans are able to have access to their remittances on time, they would be able to put the remittances into productive use, such as buying their farming inputs and also pay for other services. This would increase their productivity thereby increase their turn over to improve the national economy.
These institutions face a number of challenges that minimize the comparative advantage they enjoy (for instance geographic location), vis a vis other banking institutions. It is imperative to support MFIs with a realistic lens, in order to increase financial access in Africa through the diaspora".The Principal Investment Officer of African Development Bank (AfDB), Jaaba Rafeal said "The full picture is rather complex because the number of microfinance institutions (MFIs) in Africa operating in the business of remittance transfers is very small, below 5% of all remittance payers.
He noted that although financial institutions generally offer a full range of financial services, the geographic scope of their branches is often limited to their presence in the urban areas.
Saturday, 4 June 2011
INAFI Asia organizes Microfinance and Inclusive Development - An Alternative Summit in Hyderabad, India
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Friday, 6 May 2011
The late Ding Navarro or CSN was a very dedicated family man and development manager. He was well respected and loved by his family, friends, colleagues and those who knew him. He leaves to mourn his wife (Medy), children (Gingin and Dondon), grand children (Roxanne, Joreen, Jamie and Kyle Miguel), and sister Baby.
FUNERAL ARRANGEMENTSAll services will be held at:
La Funeraria Paz
Manila Memorial Park
- Viewing and Wake Keeping:
Beginning on May 5 (Thursday), afternoon until May 8 (Sunday), morning
- Funeral Service:
Sunday, May 8 (exact time to be announced later)
The remains will be cremated on Sunday, May 8, 3:00 P.M., Manila Memorial Park, Sucat, Parañaque.
- Divine Tapec
Message from INAFI Asia:
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Gulshan # 1, Dhaka # 1212, Bangladesh.
Tel # +880-2-8837983, +880-2-8853576, +880-2-9890835-Ext 102
Fax # 880-2-9890835,Ext – 112.
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Message from INAFI International
With his passing we lose a great friend.
We will never forget his kindness, advice and suggestions always constructive, his strong convictions.
To his family, his wife (Medy, children (Gingin and Dondon), grand children (Roxanne, Joreen, Jamie and Kyle Miguel) and sister Baby, to his friends and relatives, to INAFI Philippines and to the global family of INAFI International, I would like on behalf of the team of the International Secretariat, and on behalf of our families, to present to all our sincere condolences.
May God grant him paradise, that his suffering is finally over and may he rest in peace.
HON. Soukeyna Ndiaye Ba
International Network of Alternative
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BP: 45374 Dakar-Fann, SENEGAL
Tel.: +(221) 33 825 32 22
Fax: +(221) 33 825 32 23
Wednesday, 9 February 2011
Tuesday, 25 January 2011
Related topic: Microfinance Development Fund will crash interest rates