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Institute of Cost Accountants in India organises Round Table discussion

India Blooms News Service | | 26 Dec 2014, 10:38 pm
Kolkata, Dec 26 (IBNS): Microfinance Industry leaders in Kolkata recently came together at a Round Table discussion to deliberate on 'Relevance of Microfinance in India'.

The round table was organised by The Institute of Cost Accountants in India with the aim to enhance the knowledge base and understanding on the concept of Microfinance.

Addressing the students and audiences at the event, Kuldip Maity, MD & CEO, Village Financial Services said, “Microfinance is a crucial driving force in the process of total financial inclusion. The key goal of Microfinance is to help the poor people to generate income and lead a good life. It is only with a regular income, they can be equipped to have access to bank accounts and operate the account successfully. They can avail the other financial services only if they have a regular flow of income.'

“It is a common misconception even among educated people that Microfinance Institutions serve just as money lenders for the uneducated poor. Differing with this idea, I would like to put forward that the primary objective of MFIs is to support purely a socialitarian cause. MFIs, governed under the RBIs NBFC – MFI act follow the process of respectful money recovery and carefully protect the dignity of their borrowers,” he added.

Among the other speakers at the round table were Chandra Sekhar Ghosh (Chairman & MD, Bandhan Financial Services Pvt. Ltd), Prof. Samar Kr. Datta(Entrepreneurship Development Institute of India, Gujrat), Prof. Sudipti Banerjea(Calcutta University), CMA Manas Kr. Thakur(Chairman, Research, Innovation & Journal Committee).