Hope Microcredit Finance (India) Pvt. Ltd. has successfully organized a high profile “Lenders Meet” on February 23, 2011 at Cosmo Club, Palakkad in Kerala. Hope Microcredit a fast growing NBFC-MFI headquartered in Kerala and currently has more than 47 branches spread across six states in India.
Microfinance Lenders Meet
The Meet, participated by 15 bankers from all over Kerala,witnessed healthy and active discussion. The programme was presided over by Raju Kuriachan, Chairman, Hope Microcredit. In his presentation “Microfinance-Current Scenario”, he briefly discussed his views on the Malegam Committee report and its shortcomings, practical implications on the sector and the emerging scenario in the MF sector. His paper was well accepted and appreciated by the participants. He explained the various measures taken by Hope Microcredit to effectively tide over the crisis that has emerged in Andhra Pradesh.
S. Sridhar, General Manager (Operations), Hope, spoke at length with a power-point presentation which covered the growth path of the organization since its inception. It also touched upon the business plan of Hope, geographical spread, organizational structure, and also the projected growth chart. He also extensively dealt with the expansion programme all over India and the projected profitability.
The Meet saw the active participation of 15 bankers from Kerala. The participants were from Canara Bank, South Indian Bank, SBI, IDBI, Kerala Financial Corporation, Dhanalakshmi Bank, Catholic Syrian Bank, Corporation Bank, Federal Bank, Indian Bank, Union Bank of India, etc.
The open session was highly interactive and productive. All bankers have shown keen interest in the session and they put forward their suggestion and views for the successful operations of Hope Micro-credit. They wanted to know what kind of upliftment and rural empowerment program’s Hope Microcredit had initiated and suggested the need for proper group assessment, their performance, whether they are using the loan for any concrete productive purpose or only for consumption needs.
They further suggested the launch of new projects/schemes exclusively for project financing. So that many families can be empowered with regular livelihood activities and income generation, benefiting many others down the line. One banker expressed the view that the interest rate should be further reduced from the present 24% to a lower level.
The queries put forward by all bankers were answered satisfactorily. Hope Microcredit assured the bankers that their suggestions will be looked into and considered for the smooth fund flow and operational sustainability of the organisation.