The Association of Microfinance Institutions – West Bengal (AMFI-WB) organized a meeting between MFI’s having operations in West Bengal and State level bankers early this week to facilitate direct interaction between leaders of the Microfinance sector and the Banking industry.
Association of Microfinance Institutions – West Bengal
AMFI-WB is a Self Regulatory Organization (SRO) established in 2006 with the objective of bringing together all community microfinance organization who have operations in West Bengal together. It currently counts 27 MFI’s as it’s members.
State Level Bankers and MFI’s Meet – 18th August 2014
The meeting witnessed wide participation from large and small MFI’s having operations in west bengal along with senior government functionaries and representatives of public sector banks like SIDBI, SBI, UCO Bank, IDBI Bank, Corporation Bank and Vijaya Bank who through discussions collectively came to the conclusion that there is ample scope to improve the level of collaboration between Banks and MFI’s in the coming years to make the Great Indian Dream of 100% financial inclusion a reality within 2020.
The meeting was attended by regional heads of various PSU Banks and the MFI’s were represented by Ajit Maity, Chairperson, AMFI-WB, Mr Chandra Shekhar Ghosh, CMD, Bandhan Financial Services, Mr Kuldip Maity, MD & CEO, Village Financial Services, Mr Shubhankar Sengupta, CEO, Arohan Financial Services along with other leaders from the industry.
Speaking on the occasion, Sri Ajit Maity, Chairperson, AMFI-WB said, “We have organized this meet with an objective to provide our member MFI’s a platform to interact with bankers. After the Andhra Pradesh crisis the industry has put forward a cautious step and is witnessing a steady growth trajectory in constructive manner with more transparency and responsible lending practices. But the sector faces a problem of deficit funding and seeks the assistance of bankers to minimize the gap between demand & supply of capital.”
Shri Narendra Modi , India’s prime minister has set an ambitious goal of reaching out to more than 75 million households as part of India’s financial inclusion mission ” Jan Dhan Yojana”.
Microfinance Institutions based in West Bengal which has a population of more than 90 million are expected to play a key role in the success of India’s Financial Inclusion mission in the coming years.