A team of students from the Thunderbird School of Global Management, which has been ranked as among the top B-Schools by The Wall Street Journal and U.S. News visited Bazaari Finance’s Offices in the state of Rajasthan,India.
The team led by Prof. Melissa Beran Samuelson visited Bazaari Finance to learn more about the Microfinance Sector in India from those who run the MFI’s, i.e the loan officers, clients and MFI support organizations.
Microfinance Field Visit in India
The two-day visit (10-11th January 2010) comprised of interaction with Bazaari Finance loan clients and staff members, briefing of the group lending process, strategic presentation and meeting with the governing board of Bazaari Finance.
On day one of the visit there was a debriefing session on Bazaari Finance and the Group lending process. After that the visiting team had a field trip to different centers of Bazaari Finance; where they saw Centre/Collection meetings, Bazaari Group Training, Group Quality Test and the business ventures of the clients. The team interacted with the group of women and tried to understand more about their businesses, marketing etc.
While observing the Group Training Process, the team members were inspired by the way the group responsibility is cultivated amongst the group members, the teaching of financial literacy and the way the clients were taught to sign their names.
The team members were also introduced to the efforts of Bazaari Finance on creating awareness amongst clients about HIV and AIDS, Drug-abuse, Child marriage, female infanticide, Cleanliness and Hygiene, Pollution control and Education for girls.
In the afternoon, the team visited a branch of Bazaari Finance and saw the loan disbursement process. The team interacted with the loan clients in details with regard to their income levels and how they would utilize their loan amount, etc.
On day two of the visit there was a strategic presentation on Bazaari Finance at their corporate office. The team also had a detailed discussion with the governing Board of Bazaari Finance regarding the position of Microfinance Sector in India and the current issues and future challenges facing the sector.