AMFI-WB organises state level banking, micro finance institutions meet

The house came to an agreement that there is ample scope of collaboration between Banks and MFIs to make the Indian dream of “Financial Inclusion” a reality.

The Bankers and MFIs meet organized by AMFI-WB witnessed participation from cross section of micro finance player operating from West Bengal and senior state level officials of almost all the nationalized banks and financial institutions like State Bank of India, UCO Bank, Vijaya Bank, Union Bank, IDBI Bank, SIDBI, Corporation Bank etc.

Regional heads of various banks, senior member of SIDBI and leading MFIs were present like Ajit Maity, Chairperson, AMFI-WB, Mr Chandra Shekhar Ghosh, CMD, Bandhan, Kuldip Maity, MD & CEO, Village financial Services, Shubhankar Sengupta, CEO, Arohan Financial Services and other important dignitaries from the industry.   

Ajit Maity, Chairperson, AMFI-WB said, "We have organized this meet with an objective to provide our member MFIs with a platform to come closer with the bankers. After the Andhra Pradesh crisis the industry has put forward a cautious step and witnessing a steady growth trajectory in a very constructive way with more transparency and responsible lending practices. But currently Industry is facing insufficient funding problem and seek bankers to minimize the gap between demand & supply of MFI funds."

Anurag Srivastava, IAS, Joint Secretary, Dept of Finance, Govt of India said, "Since indepence Poverty eliviation and Financial Inclusion had been in the main agenda of our government but after 60 years we are still far from our dream. Prime Minister Narendra Modi re-christned Financial Inclusion mission as "Pradhan Mantri Jan Dhan Yojana" and set a target to reach out 75 million households who are still unbanked. If we compare NPA of a Bank with MFIs repayment rate, it is really commendable and MFIs doorstep delivery is the USP of this sector. There is huge room for collaboration with MFIs to give a momentum to the financial inclusion Mission 2018."

Kuldip Maity, MD & CEO, Village Financial Services (VFS) said, "We are thankful to AMFI –WB for organizing a fruitful meet of Bankers and MFIs where we got the opportunity to discuss the burning issue of insufficient funding from the bankers. I urge that MFI should be considered as social business who contributes to the development of the nation and fight against poverty and to serve the weaker section of the society. Challenges are varied but working in conducive environment of lending with more transparent business, responsible lending practice and both Banks and MFIs working together we may see a phenomenal growth in the sector in the coming years”.