At a Glance
Geography | Haryana, Bihar |
Implementing partners | Margdarshak- Financial Services Ltd. |
Number of people reached out to | 30,236 |
Status | Ongoing |
Duration | January 2015- December 2016 |
Geography | Haryana, Bihar |
Implementing partners | Margdarshak- Financial Services Ltd. |
Number of people reached out to | 30,236 |
Status | Ongoing |
Duration | January 2015- December 2016 |
Grameen Foundation is bringing mainstream banking to the doorstep of the low income segments through this project. Grameen Foundation is helping an Indian MFI, Margdarshak Financial Services Ltd (MFSL) transform from an organization focused on credit alone into a sustainable and scalable business correspondent (BC) of a commercial bank. MFSL will act as an agent for the bank, enabling it to provide savings and other services to at least 40,000 low income segments, women clients in the state of Uttar Pradesh. Grameen Foundation worked with the MFI at the strategic level in developing a BC strategy and diversifying banking partnerships for the BC channel, which led to two additional banking partnerships. In addition, Grameen Foundation provided technical support on technology development, business process re-engineering, change management, and staff and client training.
More than 25,000 low income households have been provided access to credit and the MFI has been able to expand its reach across 6 additional districts through the BC channel. MFI has significantly re-engineered its delivery processes, process times for credit delivery have come down by 25{2382e02857292b6eafd237571e3abe7645aa48c6a9d39376bdebe696ef57ad7b}.