Sa-Dhan to mkt micro-finance concept to rurals

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Bhubaneswar, Aug 24: The apex body of micro-finance institutions in the country, Sa-Dhan, has drawn up an action plan to help vigorously market its concept to the rural folk in the eastern part of the country, particularly Orissa and West Bengal. It has planed a two-day policy conclave— Breaking the vicious cycle of poverty: synergy between micro-finance and livelihood—from August 25 in Bhubaneswar.

The conclave aims to bring together stakeholders in micro-finance and livelihoods to deliberate and identify the critical gaps that constrain the efforts on poverty reduction. It also aims at bringing synergy in their roles vis-à-vis enhancement of livelihoods opportunities via the provision of micro-finance services. The conclave would also be an interactive forum for forging partnerships between those working on livelihoods and micro-finance separately and carve out the way.

Orissa chief minister, Navin Pattnaik is expected to inaugurate the conclave. The state finance minister has also agreed to participate. The conclave will be attended by major development banks like Sidbi and Nabard; secretary, planning commission; key functionaries from departments of finance, planning, rural development, social welfare and panchayati raj, representatives from major public and private sector banks; prominent micro-finance and livelihoods organizations, social entrepreneurs of repute and eminent experts from Orissa and West Bengal.

According to Sa-Dhan executive director Mathews Titus, as poverty remains a formidable challenge, continuous efforts are being made by various stakeholders including the governments to fight against it. Micro-finance sector is contributing its pie in reaching the last mile of financial inclusion and poverty reduction agenda. The outreach and impact of micro-finance is different in different states. The eastern states of India have also a different dynamics where awareness and the level of literacy have made the micro finance interventions easier. But the major challenge faced by the people of these states is lack of livelihoods opportunities. This session will look at the present micro-finance scenario, approaches and challenges in the states of Orissa and West Bengal. The conclave will look into the opportunities in reaching out to the unserved and underserved in the targeted area.

“Provision of micro-finance services is meant to help the poor develop their micro-enterprises and sustainable livelihoods. Micro-finance plays the role of a catalyst in livelihood generation and enhanced income for the low-income households. However, this intervention requires development of customized product, usage of the financial assistance for productive purpose, livelihoods support system and many more,” said Titus.