Interaction Session of AKMI members with SIDBI

AKMI arranged a interaction session with SIDBI officials on ” Expectations of SIDBI from Microfinance Institutions (MFIs) on Loan Proposal”.
Event was arranged in Ashirwad, Bagalore on 12th May 2014. Event was started with welcome speech by Mr K J Morab, CEO, AKMI and inauguration speech by Mr Samit Ghosh, Chairman, AKMI. Mr Sathianandan, GM, Regional Office, SIDBI- Bangalore addressed the participants. During his speech, he expressed his happiness for arrangement done by AKMI. During his presentation, he covered the following subjects.
1. Microfinance and its scope in poverty alleviation programs.
2. Role of MFIs in financial literacy and financial inclusion.
3. Role of SIDBI in Financial Inclusion.
4. SIDBI- mission for micro finance and its phases.
5. International Partners of SIDBI
6. Responsible micro financing
7. Initiatives taken by SIDBI in underserved states including North East region.
He also informed that SIDBI has taken decision to lend mainly to NBFC-MFI, at the same time for NGO & trust. He expressed that the proposal on the merits. Among AKMI
members, Prakruthi Foundation and Rors got the clarifications.

Mr THR Samad, DGM, SIDBI and Ms S. Lakshmi, Manager, SIDBI made presentation on expectations of SIDBI on loan proposals from MFIs on following items.
1) Approach
2) Eligibility criteria
3) Security
4) Documents required
5) General matter
6) Constraints

Mr Sanjay Kher, National Head, SME Rating Agencies of India Ltd.,(SMERA), Mumbai made presentation on credit rating of MFIs.

This is followed by Q & A/Interactive session and votes of thanks by AKMI.