AMFI-WB

Organized By:

Knowledge Partner :

Given the recent disruptions in the environment and regulatory reforms, it is necessary to bring micro-lenders, bankers, policy-makers, allied nancial service providers and researchers together with a common forum. To this end, the Association of Micro Finance Institutions – West Bengal, along with its member MFIs and knowledge

rdpartner KPMG – is hosting its 3 Eastern India Micronance Summit 2018 titled, “Microfinance : The crucial link in inclusiveness “on

thJanuary 18 2018 at the Lalit Great Eastern, Kolkata. The objective and purpose of the summit is to actively engage key stakeholders in discussions relevant to current and future aspects of nancial inclusion.

Future of Micronance Institutions :MFI sector is expected to continue to grow at a rate of 30% and above. However, the growth is expected to be primarily driven by SFBs and Bank led MFIs. Standalone micronance institutions will have to identify uniquely differentiating propositions to ensure sustainable growth.

Role of Digitization in MFIs towards optimizing cost of service delivery :MFIs will need to integrate the available digital enablers to improve transparency and reduce cost of operations. Further, there is a need to slowly but surely shift towards non-cash modes of business.

Collaboration for micronance – Insurance companies and beyond :MFIs need to look towards unconventional streams of revenues from targeted propositions for the Bottom of Pyramid customers. This may include nancial products like micro-insurance, mutual funds etc. and non-nancial products like solar lamps, mobile phones, water, FMCG, etc. MFIs need to actively look for alliance and partnership opportunities to deliver such propositions.

Risk Management implications in a changing environment :Given the changing landscape, it is imperative for micronance companies to signicantly enhance their current risk management framework. Leveraging technology at various stages of the customer lifecycle and ensuring that risks are managed pro-actively would help MFIs mitigate internal and external risks much better,The Summit 2018 aims to raised up as an alternative source of platform of nance to the unserved masses comprising the bottom of the socio-economic pyramid to act as forum for various stakeholders such as the regulator, shareholders, insurance companies, non-Banking Finance Companies, distributors, brokers giving them an opportunity to make a relationship marketing strategy about various issues pertaining to the sector. The summit seeks to buildup to promote the Micro nance & banking industry at a large scale, debate & discuss the proper challenges of signicant the rightful protection to the insurance consumer and fair value to the shareholders.

AMFI-WB is an institution which endeavors to promote and develop micronance in the state of West Bengal. Founded as a self-regulatory organization, and registered as a Public Charitable Trust in 2010,

AMFI-WB encompasses a community of micronance organizations that operate in West Bengal. It was formed to deliver better services to the poor, thereby helping these populations improve their standards of living. AMFI-WB envisions a community of micronance institutions who are committed to initiating a signicant change in the lives of the poor, especially women. With a membership of 30 Micro Finance Institutions, AMFI – WB currently caters to around 48 lakh poor women by providing them with nancial services, especially micro credit.

Their primary goals include: encouraging MFIs to maintain healthy relationships with banks, ensuring that MFIs stay on track and focused with the guideline prescribed to them, and mediating between various government ofcials and other important sector stakeholders. AMFI – WB regularly conducts stakeholder meets at the district level, management development programs for its members, micronance industry-related seminars & workshops, and member meetings on matters of mutual interest.

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KPMG in India, a professional services rm, is the Indian member rm afliated with KPMG International and was established in September 1993. Our professionals leverage the global network of rms, providing detailed knowledge of local laws, regulations, markets and competition. KPMG has ofces across India in Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai, Noida, Pune and Vadodara. KPMG in India offers services to national and international clients in India across sectors. KPMG strive to provide rapid, performance-based, industry-focused and technology-enabled services, which reect a shared knowledge of global and local industries and our experience of the Indian business environment.

About delegate detailed : total 380 delegates :

1. Speakers, panelist & Delegates - 372. Sponsors other delegates - 483. Bankers, Insurance and NBFC/lending delegates - 224. AMFI-WB Member MFIs Participant - 1695. Non AMFI –WB MFIs Participants - 746. Print & electronic media personnel - 217. Others like event management members etc. - 9

1. Mr. Brij Mohan, Former Executive Director, SIDBI foundation.2. Mr. Chandra Shekar Ghosh, MD, Bandhan Bank.3. Mr. Pawan Kedian, Joint Secretary, Finance, Govt. Of West Bengal, Nabanna, Howrah4. Mr. Ajit Kr. Maity, Chairperson, AMFI-WB5. Mr. B. R. Pattanaik, GM, NABARD.6. Mrs. R. Prabhavathi, DGM, SIDBI, Kolkata Zonal Office.7. Mr. P. Satish, Executive Director, Sa-Dhan.8. Mr. Samit Ghosh, MD, Ujjivan Small Finance Bank.9. Ms. Ratna Vishwanathan, Former CEO, MFIN.10. Mr. Narayanan Ramaswami, Office Managing Partner-KPMG-East.11. Mr. Punit Jain, CEO, Nelito Systems Ltd.12. Mr. Kamal Lath, MD of India Operations & Global financing, Dlight.13. Mr. Satyen Dash, Head Of Group and partnership Distribution, DHFL Permarica Life Insurance Co. Ltd.14. Mr. Kartick Biswas, Secretary, AMFI-WB & MD, Uttarayan Financial Services Pvt Ltd.15. Mr. Tamal Bandapadhyay, Consulting Editor, MINT and advisor, Bandhan Bank Ltd.16. Dr. Kuldip Maity, MD, VFS17. Mr. Arun Raste, Head of Partnership, Bharat Banking, IDFC.18. Mr. Subir Das, DGM, RM-Eastern Region, Export Credit Guarantee Corporation of India Ltd, Kolkata.19. Mr. A.S. Alagarsawmy, Regional Manager,East zone, Syndicate Bank.20. Mr. Alok Biswas, MD Janakalyan Consultancy Pvt. Ltd & Board member, AMFI-WB.21. Mr. Monaj Nambiar, MD, Arohan Financial Services Pvt. Ltd. 22. Mr. Anjan Dasgupta, MD, ASAI.23. MR Aditya Rath, Partner and head of Digital Customer Practice of KPMG India.24. Mr. Sabyasachi Chanda, Founder & Director of Force Ten Technologies.25. Mr. Bishwajit Das, Treasurer, AMFI-WB &Secretary, BJS.

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26. Mr. Shaswat Sharma, Partner & Head of Strategy Consulting Practice For Financial Services In KPMG.27. Mr. Vishesh Gupta, Director- New Business & Channel Development, D. Light.28. Mr. Satyen Dash, Head Of Group Partnership, Distribution, DHFL Pramerica Life Insurance Co. Ltd.29. Mr. Gautam Bandapadhyay, Senior Divisional Manager, KMDO-1, LICI.30. Mr. Pranab Rakshit, MD, Sarala Development & Microfinance Pvt. Ltd.31. Mr. Alok Biswas, MD, Janakalyan Consultancy Pvt. Ltd.32. Mr. Rajosik Banerjee, Partner & Head of Financial Risk Management Practice of KPMG India.33. Ms. Avani Shah, Director, KPMG34. Mr. Navin Bhattacharya, Joint Vice President & Vertical Head-MFI, Transunion CIBIL Ltd.35. Mr. P. K. Singh, DGM, National Insurance CO. Ltd.36. Ms. Supreeta Nijjar, Vice-President, Sector Head- Financial Sector Ratings, ICRA Ltd.37. Mr. Jatindra Mohan Nath, Institutional Business Manager, East, DCB Bank.

Bank Dignitaries

Mr. N. Kumar, AVP, Lakshmi Vilas Bank Ltd, Kolkata.

Mr. B. Dutta, Manager(IT) - Syndicate Bank, Regional Ofce, Kolkata

Mr. Palash Koley, AM,IDFC

Bank Ltd, Kolkata.

Mr. Uttam Kr Mandal, General Manager, WBSCL, Head Ofce, Kolkata

Mr. Naven Chanda, I.T Head,

WBSCL Head Ofce, Kolkata.

Mr. Rajiv Kr Jena, Marketing

Ofcer, Canara Bank, Kolkata.

Mr. Mr. Neeraj Kr, Sr. Manager, Canara Bank, CO, Kolkata

Mr. Arnab Ghosh, Marketing Ofcer - Canara Bank, Baguihati Branch, Kolkata

Mr. Chiranjeev Kumar, Regional Manager-SBIDHFI, Kolkata.

Mr. Manish Agarwal, Dy Manager,City Union Bank, Kolkata

Mr. S. Krishnan, Manager-City Union Bank, Kolkata.

Mr. Bijay Niranjan, AGM, Punjab & Sind Bank. ZO, Kolkata.

Mr. K. Anath, BR. Manager,Tamilnad Mercantile Bank, Kolkata.

Mr. J. M Nath, Manager, DCB Ltd, Kolkata.

Mr. S. Tripathy, CM,

South Indian Bank, Kolkata.

Mr. S. Satapathy, DGM,

UCO Bank, HO, Kolkata.

Mr. DV Prasad Rao, DGM, Circle Ofce, Canara Bank, Kolkata

Mr. Subir Das, RM-East,

ECGC Ltd, RO, Kolkata.

Mr. S. Kr. Samal, ABM,

Karnataka Bank Ltd, Kolkata

Mr. B. R Pattanayak, GM,

NABARD, RO, Kolkata.

Mr. Rijesh PK, SBM,

Karnataka Bank Ltd, Kolkata

Mrs. Archana Priyadarshani, Asst Manager, Dhanalaxmi Bank, Kolkata

Mr. S. K Ranjan, AGM,

ECGC Ltd, Kolkata.

Mrs Sayori Mitra, Manager,

SBI, LHO, Kolkata.

Mr. P. Bhattacharya,

VP, Yes Bank, Kolkata.

Mr. Souman Roy, Ofcer,

Syndicate Bank, ZO, Kolkata.

Mr. Rakesh Das, Head-Risk, Fincare Small Finance Bank, Bangalore.

Mr. Venkata Ramani VN, CM,

Karur Vysya Bank, Kolkata.

Mr.Ashutosh Kumar,SVP,

Yes Bank Ltd, Kolkata

Mr. Arnab Dey Sarkar, AM, Corporation Bank, RO, Kolkata.

Mr.Anupam Suraj, Manager, Corporation Bank, RO, Kolkata

Mr. Gautam Bandhapadhyay, SDM, KMDO-1, LIC, Kolkata.

Mr. Ambar Ray, BM, LIC, Kolkata.

Mr. Raja Bhattacharjee,

LIC, Kolkata.

Mrs. Bidsha Bag, Executive, Future Generali General Insurance Co. Ltd, Kolkata.

Dignitaries from Insurance Companies

Mr. Tamal Das, Executive, Bharati Axa Life Insurance Co Ltd, Kolkata.

Mr. Ausutosh, GM, Future Generali General Insurance Co Ltd, Kolkata.

Mr. P. K Singh, DGM, NICL,

HO, Kolkata.

Mr. Rohit Gupta, ZM, Religare Health Insurance Co Ltd, Delhi.

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Dignitaries from Insurance Companies

Dr. Shikha Goswami, AM, Religare Health Insurance Co Ltd, Delhi.

Ms. Rituparna Choudhury, Manager-Sales, Bajaj Allianz Life Insurance Co. Ltd, Kolkata

Ms. Ilora Choudhury, Manager-Sales, Bajaj Allianz Life Insurance Co Ltd, Kolkata.

Mr.Tamal Das, Manager, HDFC Life Insurance Co. Ltd, Kolkata.

Mr. Santosh Gupta, RM, ICICI Prudential Life Insurance, RO, Kolkata.

Mr. Shambaditya Mukherjee, Accounts Manager-East, ICICI Prudential Life Insurance, RO, Kolkata.

Mr. S. Hazra, Manager-Agency, Canara HSBC Life Insurance Co. Ltd, Kolkata.

Mr. Satyen Das, Head-P&D, DHFL Premarica Life Insurance Co .Ltd, Gurgoan.

Mr. Navin Bhattacharya, Ertical Head-MFI, TU-CIBIL.

Mr. Irshad Baig, AVP,

TU-CIBIL.

Mrs. Supreeta Nijjar, Vice

President, ICRA LTD.

Ms. Priti Agarwal, Joint Director, CARE Ratings Ltd.

Mr. Avishek Tantia, MD, Peerless Financial Services Ltd, HO, Kolkata.

Mr. S. Roy, Manager, Adhar Housing Finance Ltd, Kolkata

Mr. Ravi. J., AGM - Finance,Sundaram Finance Ltd,Chennai.

Mr. Haritha Rangarajan, Manager - Finance, Sundaram FinanceLtd, Chennai.

Mr. N. Hazra, ZH, Geogit, Kolkata.

Dignitaries from NBFC Lending Companies

Dignitaries from other Institutions

Apart from that, AMFI-WB member Bank/SFBs also participated. They are Bandhan Bank, ESAF, Ujjivan Small Finance Bank &Jana Small Finance Bank.

Mr. Ajit Kr Maity, Chairperson, AMFI-WB, Mr. Chandra Shekhar Ghosh, MD, Bandhan Bank, Mrs R. Prabhavati, DGM, SIDBI, Mr. B. R. Pattanaik, GM, NABARD, Mr. P. Satish, ED, Sa-Dhan, Mr. Pawan Kedian, Joint Secretary, Finance, Govt. Of WB, Mr. Samit Ghosh, MD, Ujjivan Small Finance Bank, Ms. Ratna Vishwanathan, Former CEO, MFIN, Mr. Narayanan Ramaswami, Ofce Managing Partner-KPMG-East. Mr. Kuldip Maity, MD, VFSL, Mr. Kartick Biswas, MD, Uttarayan Financial services Pvt.

rdLtd Jointly light the auspicious lamps at the Grand Opening Of 3 Eastern India Micronance Summit, 2018, at The Lalit.

Mr. Ajit Kr. Maity, Chairperson, AMFI-W B d e l i v e r e d t h e welcome address. Mr. Mai ty welcomed Mr. P a w a n K e d a n , M r . Chandra Sekhar Ghosh, Mrs. Ratna Vishanathan, & Mr. P. Satish, Mr. Samit

Ghosh, Mr. Narayanan Ramaswami and all the dignitaries on the dais and also extends his special thanks to all sponsors, all media person, all micronance colleagues, NBFC, NBFC-MFI,NGO-MFI, and also to the different delegates from different industries. He stated about the RBI rules, regulations & guidelines to do business by micronance companies in India and also draw the scenario of changing in micronance sectors with rapidly growth in the globally especially poor people. The probably

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Ajit Kr Maity, Chairman, AMFI-WB, Mrs Ratna Vishnathan, CEO, MFIN for contributing their valuable times to join in this Conclave. He also given thanks to all sponsors companies, all micronance colleagues, Insurance representatives from different insurance companies and various delegates of various industries.

He stated whole MF industry witness today in the probable admitting moment of Indian micronance industry and its growth in Indian economy tremendously. NABARD is closely assisting to entire MFI sectors as well as Govt also provides all support to us along with good support from Sa-Dhan & MFIN. He shows a great tie up with Bharat Financial Services Ltd with Indusind Bank and transforming to micronance in to banking sectors. He said that denitely demonetarization must affect on present banking industry and it has to focus on client prospectus. Mr. Ghosh points out that a big

admitting moment of Indian micronance Industry in the nancial year 2017-2018,the loan growth has come 92%,which is very high for industry growth across the country. The client outreach has 72%,which also indicates very high prospective growth for nancial inclusion. The large MFIs are contributed more than 90% of the total portfolio. The medium level of MFI and small levels MFI can grow. He introduces that NBFC-MFIs directly and indirectly lending the funding business. Basically the MFI is catering to more than 5.6 core borrowers and two lacks employees. He describe the legitimate risk factors and high growth factors for equip themselves to provide protection to their customers.

Mr. Maity has given thanks to all sponsor companies, without their extremely support this event cannot be make possible. He also given his thanks to the other respected dignitaries, participants from various MFIs,& event management personal

Mr. Chandra ShekharGhosh, MD, Bandhan Bank given thanks to chief guest Mr. Pawan Kedian, IAS , Jo in t Sec re ta ry, Department Of Finance, Govt Of West Bengal, Mr. P. S a t i s h , E x e c u t i v e Director SA- DHAN, Mr.

opportunity for whole Eastern India region MFIs growth for taking position among the rst ten MFIs. The growth rate is denitely high in ratio. Most MFIs transforming in to small nance bank and its business expanding scenario are in high prospects, but they are constantly facing many challenges from point of view of marketing & customer penetration factors. The ground level staffs in MFIs are to grow much more for upgrading their skills as well as also enriching the whole MFIs. Financial Inclusion now a day is very much vital for nancial sectors where banking and micro nance industry are rapidly expanding their market penetration as well as micro credit based upon information technology module and MFIs have to give much more concentration on customer protection. He pointed out that the funding is not a big issue for MFIs to grow in near future. Some of the MFIs already got their SFB license, now much more credit should be done on the basis of IPO. Good feedback comes from IPO and micronance services are now attracting the foreign investors not only in big way, but tremendously growth in to invest their money in to MFIs, but the banking funding ratio is increasing day by day in to MFIs. Mr. Ghosh stated that digitization will assist in the MFIs to reach out to much more clientele base in lesser period. He also discussed that digitization will reduce the cost of MFIs operation. Mr. Ghosh added that MFIs will be required for skill development to be sustained with a minimum risk that needs to groom some more skill of the sector. He stated that large number of our country have been started to enroll themselves with MFIs including poor people and the poverty rate on basis of market penetration is very high.

Mr. Ghosh stated that AMFI-WB is playing a vital crucial role in the entire eastern zone as pathways of micronance segment. He given thanks to all the very

rdbest and also wishes success of AMFI-WB 3 Eastern India Micronance Summit.

Mr. P. Satish, ExecutiveDirector, Sa-Dhan : In his speech he stated that Micronance sectors are able to carry their stand for services towards customers. At present in the growth of micronance nanc ia l inclusion are bloomed very

much as because MFIs are responsible for catering loan, recovery of loan, which are in the doorstep for

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customers. His perception is that the potential growth of micronance segment are reasonable practices from the sector and the nancial inclusion program are continuously made a sense a moment of better framework growth with ensuring better nancial services at door step. At present banking sectors are slow down and huge NPA issues are much more concerned on negative impact factors in nancial sectors, where MFIs are working in this segment in a large scale of funding as we feel as a sector association is sustainable interacting in a positive growth in micro level. Regulatory frame work for NBFC-MFIs are concern and under the RBI rules& regulations. He pointed out that banking institutions are showing abnormal growth of its loan business, and for stopping bad loans, RBI taken positives steps for saving public sector banks. Mr. Satish approach AMFI-WB to close liaison with all MFIs for drawing a long path way regarding raising a nancial structure of funding for the rural & semi urban people in West Bengal and assisting the MFIs for running their business smoothly.

Region Micro Finance Summit, 2018. He had given thanks to Mr. Chandrashekar Ghosh, MD, Bandhan Bank, Mr. Ajit Kr. Maity, Chairperson, AMFI-WB for organizing such a glorious Eastern India level summit in West Bengal. He stated this indeed a welcome step and Micronance industries growth rate progress in West Bengal. Growth of micro nance and growth of rural micronance & employment has been near to back. They were initiating several innovations towards debt in helping organization across the geographies. He pointed out that Bandhan before became Bank, has worked as micro nance institution business is something which we can adopted from and Government of West Bengal has given too much support the SHG program for improving nancial inclusion initiatives.

Mr. Pawan Kedian, IAS, Joint secretary, Finance, Govt of W e s t B e n g a l , Nabanna : Mr. Pawan Kedian, has given thanks to AMFI-WB for inviting

rdin AMFI-WB 3 Eastern

various initiatives for helping SHG modules in micro credit lending program. Ministry of rural development & Panchayat, Govt of West Bengal & Department of Cooperative Affairs, Govt of West Bengal are tagging each other for upgrading the nancial literacy program through Micronance segments. Various Cooperative Banks in West Bengal are closely working in this segment for trapping untapped areas of banking scenario through micronance Levels. Mr. Kedian stated today that, we are in the mixed of high growth MF sector. At this period, is the earnest expectation for all stakeholders that West Bengal also should post such a promising growth and improvement in this eld. He also added, now Bandhan become universal Bank from West Bengal, after that there had been a wide Gap. Mr. Kedian pointed out those commercial banks &another major player in rural sector those who mandate to serve the sector, providing credit to the agriculture sectors. In spite of this entire thing, we nd that probably credit delivery to the rural penetration at the moment, has not been to desired level.

Mr. Kedian mentioned about Government of West Bengal has been tremendously supported the SHG, JLG linkage program of NABARD. At the end, he has given thanks to AMFI-WB for organizing excellent Micronance summit in the current segments.

Mr. Kedian said that West Bengal Government is spreading the awareness of Micro lending to SHG through Cooperative Banks, Societies and also taken

Mr. B. R. Pattnaik, G e n e r a l M a n a g e r, NABARD:� M r . Pattnaik has given thanks to AMFI-WB for inviting him in this summit. Mr. Pattanaik stated, Indian micronance sector is reaching to the country ina large way, and presently serving about 28 million poor those who are getting credit service in all over India. Mr. Pattanaik stated that NABARD is fully engaged in micro nance segment as a model of micronance for setting up governance among MFIs to operate with exemplary levels of transparency and operate at reasonable rates of interest. NABARD extends loans to SHGs through business & development correspondents. He also stated that NABARD has been continuously focusing on bringing in various stakeholders on a common platform and building their capacities to growth of micronance sector in India through different approaches. Mr. Pattanaik pointed out that the

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Mrs. R. Prabhavathi, DGM, SIDBI : Mrs. R. Prabhavathi shared that she is very much pleased to

rdbe participate in 3 Eastern India Micro Finance Summit and sharing her views of SIDBI as principal sponsor in this summit. The growth of micronance and the growth of rural micronance & employment have been near to back. The business domain of SIDBI consists of Micronance, which contribute signicance to the national economy in rural penetration. She stated, today we are in the mixed of high growth in MF sector and the growth in micro credit business in West Bengal stands in a high growth parameter. The rural penetration, which isuntapped in the areas, should be brought back in the main stream. According to her, there is some introspection among the stakeholders here and everyone should use this opportunity to deliberate on the growth factors responsible for keeping the growth on West Bengal. In order to promote and develop the micronance, SIDBI supports the micronance segment for trapping to reaching the unreached, reaching the unbanked and growing sectors both in

Mr. Samit Ghosh, MD and CEO, Ujjivan Small Finance Bank : Mr. Samit Ghosh rst compliments AMFI-WB to organize this summit. He shows his positive gesture to all the dignitaries,

NABARD Micro credit innovations department has been maintained the cost in a effective manner. NABARD has a clear vision to facilitate sustained access to nancial services for unreached poor people through its microcredit innovations to cater as a facilitator and mentor of micronance industries in the country. He stated that the benet of micro nance is human right and NABARD has started on market development for promoting micro banking aspects for human in sustainable rural India segment in a very systematic ways. Micronance is a part of social rural development for promoting nancial inclusion program. Mr. Pattanaik shared that apart from MFIs, many cooperative banks are doing micronance, when post ofce & cooperatives have largest channel networks and nancial inclusion is not a new thing in today's micro banking system, but micro cooperative movement was also nancial inclusion program. Finally he has given thanks to AMFI-WB for inviting NABARD to join in this summit and wishes all success of this summit.

banks & nancial sectors. Transformation of smaller NGO & smaller MFIs in NBFC, which are very welcome step, That brings a lot of clarity to the regulator compressions and thanks the lender to have a more liberal approach in assembling funding, also helps the private equity to enter in to the MF sector. At last, she had given thanks to AMFI-WB for organizing such a wonderful summit in micro nance segment.

speakers, participants & sponsors. Mr. Ghosh stated that the present time is very crucial in the Indian economy of the country as a whole, where banking NPA & demonetization effect are much more in the nancial inclusion growth. There are second setbacks that MFI sector is facing difculties at eld level. He stated that the transforming of MFIs in to small nance Bank are rapidly growth in the Indian economy segment, where excellent network of micro credit lending are much more generating factors in MFIs. He also stated that Ujjivan Small Finance Bank build up a network of more than one lakh points of presence in the next two years to enable people in the distant corners of the country to transact digitally, a move that government digitization drive. The Bank expects its rural branches to become protable in the next one year as it pushes more retail marketing products, like as home loans, banc assurance products, mortgage loans, Insurance products, xed deposits, mutual funds etc. He gave much more emphasis on sector skill development, human resources practices, and development of entire Micro Finance sectors. Mr. Ghosh stated that Bengal has lots of cultures, where woman in the village can make extraordinary item to promoting the respected portfolio of nancial inclusion program by micro crediting factors. He appreciated of smaller NGO-MFI, smaller MFIs in NBFC, which are very welcome step, which brings plenty of clarity to the regulator compressions and facilities lender to have a more liberal approach in assembling funding, also helps the private equity to enter in to the MF sector. in ally he has given thanks to AMFI-WB for organizing this summit and wishes all success of this summit.

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nancial ecosystem. In fact, for micronance, SHG reach the remotest corner of the country. She stated that nancial inclusion always been at the front line in India, the last decade has been a strategic shift from credit focus to a more holistic approach such as opening bank account or getting access to add on products like - core nancial architectures. Mrs. Vishawanathan stated that, now MFIs will face a lot of competitions, where some of the areas of MF industries are have to be aware off. The new approach of Indian economy has been changed massively due to micro credit factors aiming the women power of poverty. The pioneer MFIs operated as nonprot, non-governmental organization with a strong social focus. MFIs in India exist in various legal structures as prot, trust, societies, not for prot companies and trend for nonprot regulated NBFCs. She stated that, NGOs transforming to NBFCs are driven with an objective to provide customers with a range of nancial products services beyond credit to increase access to capital, entire through commercial borrowing, equity, xed deposits, and mutual fund combined. Mrs. Vishawanathan also pointed out that MFIN also closely monitoring the various challenges of transforming from an informal, small scale setup to a professionally managed NGO-NBFC, NBFC-MFI, Small Finance Bank from micronance segments in to the implications on organizations as a whole to convert in to a universal nancial compact system.

At last, she again thanks to AMFI-WB for organizing such beautiful summit for evoking the nancial growth in nancial inclusion in the Micro Finance Industry.

Mrs. Ratna Vishawanathan,Former CEO, MFIN:� Mrs.Ratna Vishawanathan shared her sincere thanks to AMFI-WB and dignitaries on dais. She stated that the Indian micronance industry has been a strong permit and nancially under served and un-served in the formal

rd3 Micro Finance Summit & given thanks to AMFI-WB to giving KPMG to work as knowledge partner in this summit. He stated that the Eastern India economy and highlights the crit ical role played by micronance institutions in fostering nancial inclusion in the region, particularly in rural belt. The growth in MFI are focusing on the key imperatives around future focused on the innovation led strategies, digital for optimizing cost of service delivery, potential alliances and partnerships and risk management implications for MFIs to excel in the changing market landscape. He stated nancial inclusion has always been at the forefront in India, the last decade has been at the forefront in India. MFIs have emerged although their role in the nancial ecosystem has undergone a shift from time that operated as nonprot, nongovernmental with a strong social focus. In his speech Mr. Ramaswamimentions that, when we talk about micronance institutions, the discussion involve around the groups, discussion revolves around entrepreneurship. Mr. Ramaswami stated that nontraditional players coming in to this sector, lots of private players have stared investing this place, which shows MFIs will face lot of competitions. Lastly He pointed that now-a-days in Micro nance & Banking sectors, are working closely for changing a strong social focus for improving nancial inclusion program. After that Mr. Narayanan shares few lines about the report of the Summit before he released it with all the dignitaries on dais which are as follows :

M r. N a r a y a n a n Ramaswami, Ofce Managing Partner-East, KPMG : In his speech, Mr. Ramaswami stated that it's a great pleasure to be associated with AMFI-WB in the

The name of the report (Thought Leadership Publication) is – “Microfinance – the Crucial link in inclusiveness in Eastern India”.

The Indian economy is expected to be the fth largest economy in the world in dollar terms 2018 and the third largest economy by 2032 with projected GDP growth estimated at 7.7 percentages by 2019.

Role played by MFIs in catering to nancial services needs in Eastern India – MFIs currently operates in 29 states, 4 union territories and 588 districts in India. A total number of 223 micronance entities including (NBFC-MFIs, NGO MFIs) have reached out 4.5 crore clients – an all-time high with a loan outstanding of over INR1 lakh Crore across the JLG and SHG program.

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earned a unique reputation for its solutions and delivery excellence with more than 200 customers in 16 countries across 4 continents. The company also provides IT services comprising of application development and maintenance, consulting& IT outsourcing. He stated the vision of the company is to provide excellence with agility in IT solutions & services for banking & nancial services sectors in India and other emerging countries. He given congratulations to all stakeholders and entire team of AMFI-WB for initiating this collaboration with their service enterprise, Nelito collaborate with institution which is access to nance. He lastly appeals to every banker, MFIs, NBFC, Insurance companies for giving Nelito to collaborate and create a strong impact.

Mr. Punit Jain, CEO, Nelito Systems Ltd:��Mr. Jainshared his thanks to AMFI-WB and thanks to all the dignitaries. He pointed out that Nelito provides software technology solutions & micro-nance and government verticals globally. Nelioto has

Mr. Satyen Das, Head of Group & partnershipdistribution, DHFL P r e m a r i c a L i f e Insurance Co. Ltd :�Mr. Satyen Das given thanks to AMFI-WB for invited him in this summit. It is always

great to have all the stakeholders together, to have on insurance and nd out a rightful path to give the protection to customers. He stated that his company the company is providing a wide range of life insurance solutions to corporate and individuals and thus helping the policy holders to build corpus amount to meet policyholders' lives, short and long term nancial goals. He pointed out also that DHFL Premarica is India's one of the largest private channels claims settlement ratio for last 6 years and as far as IRDA guidelines in the term of claim

settlement prospect. He stated that the most important part in insurance sector is, after sales service. This is basically the claim services whether there is a quality that means transparency. Not everything can be paid by an insurance companies, because there is after all insurance is a legal contract, which has certain condition, but it has been properly explained that why a person does not get this claim. In insurance sector, transparency is extremely required for selling a customer focused nancial products and claim settlement need to do promptly just after getting claim settlement application forms from policy holders. He said that DHFL Premerica is not reach to the people with insurance, before reach to them with the insurance product. Lastly, he given thanks to AMFI-WB, all bankers, insurance companies and others for participating in 3rd Eastern India Micro Finance Summit, 2018.

global distribution company as leader and pioneer in delivering affordable solar-powered solutions designed for the two billion people in the developing world without access to reliable energy. Dlight provides distributed solar energy solutions for households and small businesses that are transforming the way people all over the world use and pay for energy. He stated that Dlight has four hubs in Africa, China, South Asia and United states, Dlight has sold close to twenty million solar light and power products in 62 countries, improving the lives of over 80 million people. Dlight is dedicated to providing the most reliable affordable and accessible solar lighting and power systems for the developing world and reach 100 million people by 2020 though it's strong marketing distribution channels. Mr. Lath stated that Dlight caters its solar powered solutions in Micro nance sectors with a mission of rural sustainable development. Though, Dlight has a social mission to cater solar and grid electricity to the poorest households in the world.

Mr.Kamal Lath , Managing Director of India operation & global Financing, Dlight : Mr. Kamal Lathwelcomed all the Bankers, MFIs leaders and all other delegates. Mr. Lath stated Dlight is a

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growth of avenues for promoting nancial inclusion program for ensuring and providing nancial support to the poor women in India. Indian nancial inclusion is an attempt from the part of the authorities to ensure formal banking facilities for low income groups at an affordable rate. Mr. Bandopadhyay mentioned that MFIs has to be nding the growth of avenues and identify the goals of reaching the target of nancial inclusion program in entrapped rural belt in India for promoting the livelihood and nancial inclusion facilities.

M r . T a m a l B a n d h a p a d h y a y, Consulting Editor, M i n t & A d v i s e r strategy, Bandhan Bank Ltd : He had given thanks to AMFI-WB, other dignitaries. He stated that, In India, micro nance sector is developing in new

Ramaswami, Ofce Managing Partner-East, KPMG for addressing and release of thought leadership publication. Mr. Biswas mentioned that in Eastern zones, the micro nance sectors are booming very much and its showed the excellent exploring of micronance in Biswa Bangla status.

Mr. Kartick Biswas, Secretary, AMFI-WB & M D , U t t a r a y a n Financial Services Ltd : Mr. Kartick Biswasgiven thanks to all speakers and dignitaries on dais, sponsors and stated that the session was very bright and special thanks to Mr. Narayanan

Felicitating the following Individuals/MFIs for their outstanding achievement in being awarded on different given category:

Association of Micro Finance Institutions – West Bengal, Appreciate & Honour for Outstanding Contribution to Micronance and Banking Industry. Best Wishes to Mr. Samit Ghosh, CEO & MD, Ujjivan Small Finance Bank.

Association of Micro Finance Institutions – West Bengal, Appreciate & Honour for outstanding contribution to Micronance Industry Best Wishes toMs. Ratna Viswanathan, Former CEO, MFIN The memento has been given by Mr. Samit Ghosh, MD, Ujjivan Small Finance Bank.

Association of Micro Finance Institutions – West Bengal Appreciate & Honour for Outstanding Contribution to Micronance and Banking Industry - Best Wishes to Mr. P. Satish, Executive Director, Sa-Dhan.

Association of Micro Finance Institutions – West Bengal Appreciate & Honour For Outstanding Book "Lehmen to Demonetization" a book about critical analysis of banking as well Micro nance Industry. Best Wishes To Author Mr. Tamal Bandapadhyay.

Association of Micro Finance Institutions – West Bengal Appreciate & Honour For Receiving the Award on SKOCH Platinum Award for Inclusive Insurance, SKOCH Order of Merit Award & 3rd Great Place To Work For in India, Best Wishes To Ujjivan Small Finance Bank

Association of Micro Finance Institutions – West Bengal Appreciate & Honour For One of the six youngest (as per age) Leaders of AMFI-WB members who has given endless effort for his organization Best Wishes To Mr. Abhijit Bera, MD, Sampurna Training & Entrepreneurship Program (STEP). DOB - 02.01.1981

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Association of Micro Finance Institutions – West Bengal Appreciate & Honour For One of the six youngest (as per age) Leaders of AMFI-WB members who has given endless effort for his organization Best Wishes To Mr. Kartick Biswas, MD, Uttrayan Financial Services Pvt. Ltd. DOB - 15.11.1978.

Association of Micro Finance Institutions – West Bengal Appreciate & Honour For One of the six youngest (as per age) Leaders of AMFI-WB members who has given endless effort for his organization Best Wishes To Dr. Kuldip Maity, MD, VFS. DOB - 23.05.1978.

Association of Micro Finance Institutions – West Bengal Appreciate & Honour For One of the six youngest (as per age) Leaders of AMFI-WB members who has given endless effort for his organization Best Wishes To Mr. Prasenjit Saha, Director, Swapnatari Financial Services Pvt. Ltd. DOB - 08.08.1985.

Association of Micro Finance Institutions – West Bengal Appreciate & Honour For One of the six youngest (as per age) Leaders of AMFI-WB members who has given endless effort for his organization Best Wishes To Mr. Shubhendu Shekhar Biswas, Asst. Secretary, Barasat Samparka DOB - 22.01.1981.

Association of Micro Finance Institutions – West Bengal Appreciate & Honour For One of the six youngest (as per age) Leaders of AMFI-WB members who has given endless effort for his organization Best Wishes To Mr. Subrata Ghosh, Secretary, Seba Rahara. DOB - 01.03.1978.

Association of Micro Finance Institutions – West Bengal Appreciate & Honour For Youngest women (as per age) Leader of AMFI-WB members who has given endless effort for her organization. Best Wishes to Ms. Swapna Das, President, DBIS. DOB - 11.09.1984.

Association of Micro Finance Institutions – West Bengal Appreciate & Honour For the MFI with highest percentage of rural penetration (West Bengal Portfolio based) and not borrowers based. Rural penetration as on 31st March 2017Best Wishes toDCBS for 100% rural penetration as on 31st March 2017. The memento has been given by Mr. Ajit Kumar Maity, Chairperson, AMFI-WB.Association of Micro Finance Institutions – West Bengal Appreciate & Honour For Receiving Awards on SKOCH Order-of-Merit for qualifying among top 100 projects in India for nancial Inclusion, Finance India Summit 2017,CSR Excellence Award by India International CSR Conclave, SKOCH “Order Of Merit” award on best IT implementation for Mobility and CRM, SKOCH “ORDER OF MERIT” AWARD for qualifying amongst Top-80 Technology Projects in India. Best Wishes to Arohan Financial Services Pvt. Ltd. Association of Micro Finance Institutions – West Bengal Appreciate & Honour For Receiving the Award on Indian of the Year by CNN-News 18, FE India's Best Banks Awards by Financial Express, Bihar Mitra Award by A Govt. of Bihar initiative, C. Rangarajan Award by Skoch Group, Sera Bangalee by North American Bengali Conference (NABC). Best Wishes to Bandhan Bank.Association of Micro Finance Institutions – West Bengal Appreciate & Honour For Receiving Awards on Winner under the category: Micronance Organization (Large) presented by Inclusive Finance India Awards Secretariat 2017 on December 11 at Hotel Ashok in New Delhi at the Inaugural day of the Inclusive Finance India Summit 2017 Presented by SKOCH GROUP - SKOCH ORDER- OF- MERIT – for Qualifying Amongst Top-80 Technology Projects In India for Digitizing Rural Financial Services on December 20, 2017 at New Delhi. Presented by SKOCH GROUP – SKOCH AWARD SILVER- SKOCH TECHNOLOGIES FOR GROWTH AWARD 2017 - for Digitizing Rural Financial Services, on December 21, 2017. Best Wishes to BFIL. The memento has been given by Ms. Ratna Vishwanathan, Former, CEO, MFIN. Association of Micro Finance Institutions – West Bengal Appreciate & Honour For the MFI with covering maximum borrowers i.e. 645515 numbers in West Bengal during the nancial year 2016-17 Best Wishes to Bharat Financial Inclusion Ltd.Association of Micro Finance Institutions – West Bengal Appreciate & Honour For the Highest portfolio 1149 Crores of West Bengal portfolio) of NBFC-MFI of AMFI-WB members as on 31st March 2017.Best Wishes to Bharat Financial Inclusion Ltd.Association of Micro Finance Institutions – West Bengal Appreciate & Honour For the Highest Portfolio (31.4 Crore of West Bengal Portfolio) of NGO-MFI of AMFI-WB members as on 31st March 2017. Best Wishes to Belghoria anakalyan Samity.Association of Micro Finance Institutions – West Bengal Appreciate & Honour For Receiving the Award on "INDIRA GANDHI SADBHABANA AWARD" given by International Business Council on 18th April 2016 &"JEWEL OF INDIA AWARD" given by International Institute of Education & Management on 5th June, 2016. Best Wishes to Mr. Ganesh Chandra Modak, Secretary, Society for Model Gram Bikash Kendra.

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The rst plenary session was being moderated by Mr. Tamal Bandopadhyay, consulting Editor, MINT & Adviser strategy Bandhan Bank Ltd. The panelist for the rst plenary session were Dr. Kuldip Maity, MD, VFS, Mr. Arun Raste, Head Of Partnership, Bharat Banking, IDFC, Mr. P. Satish, ED-Sa-Dhan, Mr. Subir Das, DGM & RM-ECGC Ltd, Mr. A. S. Alagarswamy, RM- Syndicate Bank.

M r. B a n d o p a d h y a y s t a t e d “ F u t u r e o f Micronance” for MFIs to nd new growth avenues, it's an interesting subject but if we don't talk about the future challenges in this, which would be unfair to the audience. This is a sector where the inclusion and cashless agenda of the government should be pursued as it has the potential to create signicant empowerment and impact. With The opening up of more business correspondents from banks, new age small nance banks, payments platforms such as Aadhaar Pay etc.

Mr. Alagarsamy stated that the nancial inclusion is one of the most important major priority in India for booming the future prospect of micronance industry and Ministry of Finance, govt. of India is giving stress all banks in nancial inclusion, special schemes for SHGs, which is must help for expanding micro credit functions for generating new business growth in micronance sectors. He addressed that Syndicate Bank is closely working with MFIs in the country and MFIs is playing an important role on nancial literacy initiatives for rural and urban poor people.

Mr. P. Satish :�In his speech Mr. P. Satish stated that Micronance sector is gradually able to carry their stand for services towards customers. At present, in the growth of micronance nancial inclusion are bloomed very much as because MFIs are responsible for catering loan, recovery of loan, which are in the door step for customers. His perception is that the potential growth of micronance segment are reasonable practices from the sector and the nancial inclusion program are continuously made a sense a moment of better framework growth with ensuring better nancial services at door step in r future growth in micronance.

Dr. Kuldip Maity stated, MFI Industry can develop an infrastructure for the future growth in MFIs. He also pointed out that both bank and MFIs are doing same kind of job with a common vision, so there is no reason not to support MFIs. The MFIs recovery rate is 97% and it is good aspects to growth in future in MFI. Now in present scenario, after the positive intervention of RBI & ministry of Financial services, Govt. of India, the situation is restored in favour of growth of MFIs in near future.

Mr. Arun kumar Rastey stated, we as a private sector Bank in India, which offering wide range of micro credit to the poor people with enable customers in the farthest corners of the country to create Bharat Banking scenario for the growth in micro nance industry. IDFC bank offer products like - Sakhi Shakti Livelihood Advancement loan, Pratham savings and current accounts which are designed for the development of urban & rural micro nance market and its soon scale up with rural micro banking portfolio to a size of Rs. 10,000 -15,000 crore in coming ve years.

Mr. Subir Das stated, micronance sector is much more resilience and the present scenario of MFIs are much more challenging in respect of loan recovery. He informed, after demonetization, the banking& MFI are facing much more challenges in view of business.

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Mr. Tamal Bandopadhyay asked Mr. Subir Das how ECGC Ltd acts in credit sector for growth of nancial inclusion. In his turn Mr. Das stated that ECGC provides export credit insurance support to Indian exporters and is controlled by Ministry of commerce, Government of India. The ECGC Ltd has introduced various export credit insurance schemes to meet the requirement of commercial banks extending export credit. The insurance covers enable the banks to extend timely and adequate export credit facilities to the exporters. He added that its premium rates at the optimal level.

Mr. Brij Mohan, Former Executive Director, SIDBI& Founder of SIDBI Foundation for Micro Credit : Firstly he gave thanks to AMFI-WB and all other delegates& dignitaries. He stated that MFIs are doing great

job for last mile connectivity in the country. He recalls the year 2000 when SIDBI sanctions 5 crores for MFIs and today many banks and nancial institutions are supporting MFIs. So it is a great journey for the industry. He praised for digitization of the industry but equally he support for physical contact between the client and Institutions. He stressed that SFBs are also focusing on micronance and there is opportunity that SFBs, Bandhan, IDFC etc. are focusing on micronance and supporting to MFIs. So he said that future of micronance is safe but it has to change the shape. But relationship with client cannot be compromised. Basically, the honesty that serves the client– cannot be compromised. He critically analyzed the ill effect of multiple lending and it cannot justify the growth of micronance. “And we are seeing one or two institutions who are giving large loan, are facing difculties,” he added. So this process is killing the entity and killing the clients, he admits.

He once again thanks to AMFI-WB for such local initiatives and developed the cooperation between the MFIs and stakeholders.

After that AMFI-WB felicitate him : Association of Micro Finance Institutions – West Bengal Appreciate & Honour For Outstanding contribution towards Financial Inclusion and to Micronance Industry - Best Wishes To Mr. Brij Mohan, Former Executive Director, SIDBI and Founder of SIDBI Foundation. The memento has been given by Mr. Ajit Kumar Maity, Chairperson, AMFI-WB.

Vote of thanks : Mr. Alok Biswas, MD, Janakalyan Consultancy Pvt. Ltd. given thanks to AMFI-WB to giving this opportunity. It's a great pleasure for him to give him a chance for delivering the vote of thanks on this session. He expects all we learn lot of unknown lessons from this session on Future of Micronance. He hopes the audience and other would get help from the panel discussion session.

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The First Panel discussion was being moderated by Mr. Manoj Nambiar, MD, Arohan Financial Services Pvt. Ltd. lead presenter by Mr. Punit Jain, CEO of NELITO Systems Ltd.The panelist were Mr. Anjan Dasgupta, MD, ASAI, Mr. Aditya Rath, Partner and Head of Digital Customer practice of KMPG India, Mr. Abhishek Tantia, MD, Peerless Financial services Ltd, Mr. Sabyasachi Chanda, Founder & Director Of Force Ten Technologies.

Mr. Nambiar stated that India is home to about 21 percent of the Worlds un banked population. In recent years, the Government and the RBI have focused on nancial inclusion and inclusive nancing, including the delivery of nancial services at affordable cost to sections of disadvantaged and low-income sections of society. This is the space where Micro Finance Institutions operate. MFIs cater to women primarily in the rural and semi urban areas where mainstream nancial inclusion in India. The benets of digitization have been felt throughout our organizations where turnaround times have reduced up to 50 percent across processes and the exibility of our solutions are scalable to handle growth an increase in branches, networks, customers or employees can be easily absorbed.

Mr. Punit Jain stated that Nelito is focused on providing affordable excellence through its digital consulting and solutions to make a difference to lives of the people at the bottom of pyramid. It plans to do so within India and other developing countries by providing Technology for Banking the Unbanked. Our solutions are helping our customers serve millions micro nance and banking borrowers affordably and efciently. Financial services Nelito System have a promising future due to its focus and expertise on Banking & Financial services segments. IT has started making inroads in overseas countries with its Fin Craft suite of solutions. We except, about 30 per cent of our revenues coming from international markets in next 3 years.

Mr. Anjan Dasgupta, stated Micronance allow digital technology and data allow nancial service providers to credit prole of a client. These digital foot prints help nancial service providers interact better with customers, and provides a range of developing the digital footprints help nancial services providers interact better with customers, and provides a range of nancial products and services based on a deeper understanding nancial needs.

Mr. Abhishek Tantia stated that, Peerless Financial Services Ltd. is an NBFC, registered under RBI, which offers a bouquet of loan products to meet the funding requirements of corporate rms, and individual at competitive rates. Digitization is that multiplying force in India right now. The trio of measures to boost nancial inclusion (Jan Dhan), a universal biometric identication system (Adhaar), rising smart phone penetration coupled with the goods and service tax system are fast tracking India's digitization and in turn bringing about rising nancial access and rapid formalization of the India economy. Digitization will have far reaching implications for the corporate, household and public sectors.

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Mr. Aditya Rath stated that digitalization in banking & micronance sector continues to be perceived both as an opportunity as well as a challenge. The micronance sector is witnessing new micro banking services would be offered in the coming years. For banking & MFIs execution in playing of digitalization is a winner of path breaking innovation, exibility to adapt and successful implementation of ideas. MFIs are going forward which will need to collaborate, integrate and automate to take digital journey in next level. The quickening pace of the technological landscape has generated the need for a different value proposition, enhanced customer experience and improved operational efcacy making the adoption of emerging technologies inevitable for utilizing digitalization. This has become imperative with the introduction of many digital platforms that aid with disbursement of payments and other banking transactions.

Mr. Sabyasachi Chanda shared that the world has entered in Digitalism, where digitalization and nancial services are evolving faster with each other. The emergence of digital is creating the valuable resources of business information in nance sectors. The value of digitalization in the ways of interprets data and makes a forum of economic strategy. He added that force ten technologies Pvt. Ltd. Is a service providing technology solution company which enables to provide a complete best services For diverse verticals covering nancial sectors like Micronance, NBFC, Cooperative, societies, rural bank, other nancial institute, manufacturing sectors like exible packaging, copper & agro products and other livelihoods projects.

Mr. Biswajit Das, CEO, BJS has given thanks to AMFI-WB for giving this opportunity. It's a great privilege for him to give him the chance for delivering vote thanks on this session on the role of digitization in MFIs towards optimizing cost of service delivery. He hopes the audience and other will get help from the discussion. He has given thanks to Mr. Monoj Nambiar and the entire panelist. He has also given thanks to the audience. Mr. Monoj Nambiar handed over the memento to all panelists.

Moderator : Miss Avani Shah, Director, KPMG-India.

Panelists were :1. Mr. Satyen Dash, Head of Group & Partnership Distribution, DHFL Pramerica Life Insurance Co. Ltd.2. Mr. Gautam Bandapadhyay, Senior Divisional Manager, KMDA-1, LIC.3. Mr. Pranab Rakshit, MD, Sarala Development & Microfinance Pvt. Ltd.4. Mr. Salil Khanna, Sales Head, India, Greenlight Planet.5. Lead presentation by Mr. Vishesh Gupta, Director-New Business & Channel Development, D. Light.

Miss Avani stated, there is attractive development logic for the provision of insurance to low-income households. One can easily create a compelling story how a micro insurance product will protect the poor against divesting losses or smooth the volatile cash ow of low income households. While generating increased prots for the micronance institutions stories, and dozens of MFIs are rolling out micro insurance products in a rush to meet both client and institutional needs. While there is no doubt that low incomes households are highly to neither risks-nor that MFIs are in need of increased prots-micro insurance is only a partial response. It is also a response that most MFIs will nd

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difcult to implement, because they have not yet had cause to create the specialized skills and institutional structures that commercial insurers have developed over decades in order to under write risks prudently. This brief describes the parameters of micronance in the range of risk management products and tools typically used by micronance clients. Additionally, it describes the main types and tools used by micro nance clients The main types of insurance being offered by MFIs today, and highlights the resources MFIs require to manage insurance premiums and products protably.

Mr. Vishesh Gupta stated Dlight is a global leader and pioneer in delivering affordable solar powered solutions designed for the billion people in the developing world without access to reliable energy. Dlight provides distributed solar energy solutions for households and small business that are transformation the way of people all over the world use and pay for energy.

Mr. Das stated that stakeholders together, to have on insurance and nd out a rightful path to give the protection to micronance customers. He stated that his company the company is providing a wide range of life insurance solutions to corporate and individuals and micronance borrowers and thus helping the policy holders to build corpus amount to meet borrower's life short and long term nancial goals. He pointed out also that DHFL Premarica is India's one of the largest private channels claims settlement ratio for last 6 years and as per as based upon the IRDA guidelines in the term of claim settlement prospect. He stated that the most important part in insurance sector is after sales service. This is basically the claim services whether there is a quality, that the means transparency. Not everything can be paid by an insurance companies because there is after all insurance is a legal contract, which has certain condition, but then has it been properly explained that why a person does not get this.

Mr. Sahil Khanna shared that, It is a great resources and bring the exclusively success stories within the industries as well as assist for building up a strong relationship within the micronance institution, which escalates the making of relationship marketing in the social enterprise, Greenlight planets collaborate with institutions, which access to nance. Green light planet is a social for prot making business that designs, distributes, and nances solar powered home energy products with an under served population through collaboration with micronance Industry, which generally focuses on rural networks, corporative Societies and NGOs. Today's micronance industry abounds with a basket of suggested approach to build on the partnerships between MFIs and licensed insurers. Dlight is strongly working with several micronance companies to promote solar energy products to customers throughout the world. He also stated that MFIs need to look towards unconventional streams of revenues from targeted proportions for promoting micro insurance, mutual fund, and other basket of nancial products, where D. light can able to promote its solar lamps etc with collaboration jointly with MFIs.

Mr. Bandhapadhyay stated that LIC is a national level important nancial giant in the sector of Insurance and insurance is a important tool for penetrating in the rural micro insurance policies. The national level GDP has to be protected by the Insurance and everyone here to help to each other between micro nance & micro insurance sectors. He has given thanks to AMFI-WB for inviting LIC ofcials in such a great event about insurance business. He stated out that LIC is working in micro insurance sectors from 1956 Closely working with micronance sectors & everyone need to change a perception about insurance business. IRDA it's a toughest regulator to work. IRDA talk about consumer protection every time. In India the most difcult market to work in insurance products selling, specially LIC holds 90 % market share in insurance sectors and micronance play a vital role for developing micro insurance market penetration in LIC corporate social responsibility sector. LIC sells life risk insurance products to customers and in the risk business, the margin of the clientele of the company is very high as per as comparison to other insurance companies in India. Especially life insurance credit protection product is the only product in micronance segment for covering the life risk of the borrowers and the need base of the product also creates the need of demand in the micro insurance market. He stated also that now a days in insurance market LIC sells insurance savings products which are being innovative, much more supportive for the customers for sustaining the LIC business in a long term manner.

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Mr. Pranab Rakshit stated that Micronance institutions typically offer a variety of loan products and increasingly savings services as well as today the MFIs are grappling with a challenge question” should we offer insurance and if so what types of products and how? Using the experiences of MFIs in India, this case study seeks preliminary evidence to answer these questions. While the questions seem straightforward, the answers are considerably less so. Micro nance institutions are quite heterogeneous, and the range of approaches make a sense to conducive for offering a wide range of creating a broader range of insurance opportunities for the micronance industry. Basically micronance institutions get involved in insurance for get a protectivelife coverage's of borrowers against the security of loan coverage and in case of death the life risk coverage amount will get the nominee of the respective borrower.

Mr. Shashwat Sharma request to Mr. Alok Biswas for sharing his views about the issues of collaboration of micronance-insurance and beyond.

Mr. Aloke Biswas, from Janakalyan consultancy services & Pvt. Ltd stated that Micronance has huge market potential in India. The micronance and micro insurance helps each other for making a partnership model for regulating insurance companies underwrite and provide micro insurance products while provision or delivery of the product is done by delivery channels. Delivery channels can be wide range of MFIs, but direct ties to the low income population such as MFIs & others. The collaboration model between micronance & insurance segment create a trust of developing of understanding the ability to sell of micro insurance policies within the market. Micronance delivery channels benet from partnering with regulated insurance companies as well.

Session Moderator : Mr. Rajosik Banerjee, Partner and Head of Financial Risk Management Practice of KPMG.

The Panelist was :1. Ms. Ratna Vishwanathan, CEO, MFIN2. Ms. Priti Agarwal, Joint Director, CARE Ratings.3. Mr. Navin Bhattacharya, Joint Vice President & Vertical Head MFI, Trans Union CIBIL Limited.4. Mr. P. K. Singh, DGM, National Insurance Co. Ltd.5. Ms. Supreeta Nijjar, Vice-President, Sector Head Financial Sector Ratings, ICRA Ltd.

Mr. Rajosik Banerjee stated, Micronance can be effective complement to existing menus of social protection programs. A exible and powerful instrument of micronance risk management refers to the practice of identifying potential risks in advance; analyzing the entity of exposes itself to a number of nancial risks. The quantum of such risks depends on the type of nancial instruments. These nancial risk might be in be in the

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form of high ination, volatility in capital markets recession, & bankruptcy etc. So, in order to minimize and control the exposure of credit to such risks, fund managers. In nancial world risk management is the process of identication, analysis and acceptance or mitigation of uncertainly in investment decision. Essentially risk management occurs any time an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment.

Mr. Jatindra Mohan Nath stated though on the risk management perspective if the micronance industry growing is at very fast rate and whenever there is growth which is at the faster rate. Basically risk management implications in a changing environment practices in nancial sector is upgrading through modern technology. When banking sector risk management in India has slowly evolve in to computerized environment and core banking solutions. The risk management today in most of the micronance institutions they have already implemented to some certain extended. The banking industry based risk management is in the realization of AP crises, which given us lots of essences. He felt that risk management emphasis the portfolio of lending structures on

basis of risk of funding any loan. He stated that there are lot of investment required which is very costly to build the implications the environment for the risk analysis, credit appraisal, collection, fraud analysis and still there are events for the corporate customers for providing corporate lending risk factors.

Mr. P. K. Singh stated that in micro nance sector risk management is essential to the long term sustain ability of micro nance institutions, but many micronance stake holders are unaware of the various components of a comprehensive risk management regimen. This document presents a framework for internal risk management system and processes of micronance institutions. The discussion is tailored to board of directors and Managing directors of micronance companies, who play the most active role in MFIs oversight, and presents the guide lines for improving the core principles of effective risk management in to the MFIs cultures and operations. He shared that credit risk is

implemented for opening of the bank account for the borrowers and also tagged an insurance policies for optimizing the risk penetration. In respect of Govt. of India has taken the rst step by asking the people of the India to open zero balance accounts and Jan-Dhan accounts. This improves savings habits among borrowers and also assists them to provide exclusively insurance coverage on risk.

Ms. Priti Agarwal shared her views on risk management is that in nance industry, the variables extent of positive/negative impact on the cash ows and debt repayment ability of NBFC companies in an industry over a 3-4 year horizon. The risk score for an industry is arrived assigned to the aggregating in the scores assigned of cost structures and nancial performance. She shared that Micro nance industry risk scores are depend upon the impact of variables on the based upon the cash ows and debt repayment ability parameters/ factors. ICRA ratings scores are symbolic representations of current opinion on the relative credit risks associated with the rated debt obligations/issues.

Mr. Bhattacharya stated digitization has happened for almost all aspects of nancial and banking industry transactions and risk management issues are based upon the strategic of policies and perceptions. There accepted norm to lend after assessing the credit score of an individual. Credit score is calculated after collecting data from all lending agencies and analyzing it. The risk factors that go in to making the utilization of credit risk scores. CIBIL rating is based on the principal of the debt, which can show the nancial analyzing factors. The

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risk management complies the score of CIBIL of a loan, which is carefully calculated of combinations of various negative impact of loan credential. Risk and credit utilization are the ratio which measures the high credit utilization in credit hungry behavior.

Ms. Supreeta Nijjar stated MFI industry can develop risk implicates through the growth of evolve banking sector funding. A fund management quality from ICRA provides with an independent opinion on the overall risk factors of funding. The segmentation of risk management process involvement of new arena of proper credit monitoring which shows the upliftment of entire credit risk factors. A number of risk initiatives to facilitate nancial inclusion of the unreserved and the under served market have been initiated by risk controlling department of any nance company.

Mr. Rajosik Banerjee asked Ms. Ratna Vishwanathan that how the micronance sector risk management feedback loop work.

Ms. Ratna Vishwanathan stated that MFIs looks at three categories of risk, which evaluates broadly in three categories like operational risk, behavior risk, nancial risk/strategic risk for setting the monitoring the design informative risk management. To manage risk, continuously risk management evaluate internal feedback loop.

On the short intervene Mr. Navin Bhattacharya replied to Mr. Banerjee that the nancial funding advance is to be equipped of the credit habits of potential borrowers which enables better lending decisions of comprehensive CIBIL consumer report to provides extensive data empowering to lend with greater condence of mitigating risk.

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By Dr. Kuldip Maity : Dr. KuldipMaity has given thanks to all Guest, Speakers, delegates and Sponsor Companies and media personnel to participate the event. Healso congratulate AMFI-WB to organize such a great learning summit. It is a great privilege for him to share vote of thanks, He added. Dr. Maity stated that all the sessions were very fruitful including Inagural session. He hope the audience and other will get benet from these discussion and interaction. It was a guze gathering and he expressed that everybody must be beneted from this summit including MFIs, Bankers, lenders, students and sponsor companies.

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Technology Partner :Digital Partner :

NABARD

Association of Micro FinanceInstitutions - WB

AMFI-WB

Organizer :

UTTRAYAN