Microfinance

BASIX Bags the Skoch Financial Inclusion Award 2011

Skoch Challenger Award 2011

The 5th January 2011 was celebrated as Financial Inclusion day in India. To commemorate the occasion  Skoch Development Foundation in Delhi organised a high powered and star studded award ceremony in which BASIX – a conglomerate of nine entities engaged in providing financial inclusion services to the poor, bagged the coveted Skoch Challenger Award 2011 for Financial Inclusion and Livelihood Promotion.

Basix Skoch Financial Inclusion 2011

Mr Vijay Mahajan receives the award the award from Dr. C. Rangarajan

The applicants pool consisted of PSU banks, MNC banks, Co-operative banks, Business Correspondents, MFI/ NBFCs, RRBs, Central Governments, State Governments, Civil Society, Individuals, Mutual Funds, Pensions, Insurance (PSU and Private) and other institutions operating in the sector.

Basix Microfinance

Over the past 15 years, BASIX has worked on providing a financial identity to its over 3.5 million customers. Working its way up from imparting financial literacy–> livelihood promotion through technical assistance and micro credit –> Risk mitigations through insurance services –> Savings services (bank account opening and transactions, micro pensions, recurring deposits etc)

The Award is one of the highest civilian honour in the country that recognizes people, projects and institutions for their extraordinary achievements in contributing to society. The Awards are independently instituted and solely conferred by Skoch Consultancy Services Pvt. Ltd. No institutional, corporate or government endorsement or support is either expected or accepted for the awards to maintain editorial independence.

Basix Microfinance Livelihoods

Abhay N

Author : 

Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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1 Comment

1 Comment

  1. prashantn

    January 20, 2011 at 10:57 pm

    Hi,

    In the last couple of months, I have been reading a lot on Financial Inclusion
    Reserve Bank of India, is doing exemplary work in promoting Financial Inclusion.

    Skoch too, via its Financial Inclusion Award’s is raising the Bar, for Banks to spread Financial Inclusion.

    Numerous studies have been published on Financial Inclusion.

    Various solutions have been suggested, and the associated cost factors discussed.

    But, what is interesting is that no one has veered from the traditional path i.e the end need is always met by physical cash.

    Electronic Cash has to replace with physical c cash. Than only true Financial Inclusion is achieved.

    I see all efforts are made electronically to transfer the cash into the Banking Accounts and then at the last mile, physical cash is necessary.

    nayakanti prashant

    Safe ePayments Motivator
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