Microfinance products and services pdf

The company’s mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty. In 2013, the company operated across 17 Indian states. He added further, “If they do it, I cannot stop them but Microfinance products and services pdf would encourage genuine Microcredit programs. However, the differing legal frameworks in Bangladesh and India could justify SKS Microfinance’s IPO initiative.

Indian MFIs are prohibited by law from collecting deposits. SKS founder Vikram Akula resigned from the board on 23 November 2011. Ravi Kumar is the non-executive chairman. SKS also suffered the Crisis the MFI industry went through in 2011. A second investigation said SKS may have been involved in two other suicide cases. In 2012, SKS Microfinance cut 1200 jobs and closed 78 branches in Andhra Pradesh. Such a system works because India is still a highly community-centric society.

The concept of honour and respect within society is deeply rooted in Indian culture and willful default invites condescending glances, humiliation and even ostracism. In Nov 2015,SKS Microfinance Ltd has cut interest rates by one percentage point to 19. Lower interest rates can attract more borrowers in an increasingly competitive market. 2010, are now able to charge lower interest rates because of newer avenues to raise funds at lower cost and their ability to operate more efficiently than before. This is the fourth time SKS has reduced interest rates since October 2014.

Abhishek Fogla, “Indian Microfinance: Swimming Fully Clothed! This page was last edited on 11 September 2017, at 06:57. This Technical Guide is designed to enable policy makers with jurisdiction over market conduct issues, consumer protection organizations, and development agencies to conduct mystery shopping exercises. Policy makers are increasingly integrating consumer research methodologies to monitor the market, gather insights, and inform policymaking. Mystery shopping is a tool that involves sending consumers to places of business, government agencies, or other service providers to simulate a typical customer inquiry.

By conducting mystery shopping visits, we can better understand important financial inclusion issues such as differentiated treatment of low-income or inexperienced consumers, quality of product advice, and compliance with consumer protection rules such as pricing transparency and disclosure. CGAP’s experience conducting mystery shopping for a range of products. The guide provides information on how to design, execute, and analyze mystery shopping exercises for financial services. This includes descriptions of the several stages of implementing a mystery shopping program, and actual field guides such as questionnaires, shopper training materials and sales staff surveys.