Social Impact Assessment of Microfinance Programmes - weman

managing contingencies, allowing women a viable way of storing assets in their own
right.
Therefore, Asasah gives its clients the option of opening a joint savings account with
their husbands. The account must be opened with a minimum of Rs.50 and any amount
can be deposited/withdrawn at anytime by both of them. The withdrawals can be of any
amount at Asasah’s own branch or up to Rs.2,000 at a community meeting. If a family
falls ill and needs money, the Branch Manager him/herself is supposed to go and give the
client their savings and the clients can repay their instalments from their savings if they
wish to do so.
3.1.4.8 Micro Insurance
Asasah offers life insurance to members, which provides coverage for them and the main
breadwinner of the family. It is mandatory for all members to purchase the life insurance
policy by paying 1 percent of the loan amount if it is less than 30,000 and 2 percent if it is
more than that. For the protective loan the clients pay only Rs.150. In case of accidental
death or permanent disability of the member or her spouse, the policy covers the
outstanding loan and provides Rs.5,000 towards funeral expenses. This service is being
offered in collaboration with EFU, an insurance firm.
3.1.5 Operations
3.1.5.1 Human Resources
Asasah has a staff of 370 of which approximately 65 percent are females. Asasah is quite
determined about investing and building the capacity of its staff. It is one of the core
points of Asasah’s mission and tries to provide and create various opportunities for its
staff. It also assists staff in pursuing further education and provides them with financial
assistance and paid study leave.
Asasah has set up a training department and every CDO before starting his/her work in
the field goes through a seven day training course which includes discussions,
presentations and hands-on training. Such training courses, according to Asasah, improve
the morale of the workforce and also enhance their analytical and communication skills.
It increases the understanding of policies and procedures, and helps improve
standardization across branches.
Generally, Asasah tries to fill positions through internal promotions, especially for
operational staff. Operational staff members start as interns after a rigorous selection
process. CDO salaries include a 40 percent incentive component to bring in two groups
per month, recover 100 percent of the amount due and keep their documentation up to
date. They are also given a quarterly reward for their performance. Furthermore, they
undergo a combination of training, monitoring and incentives which enhances their
productivity. Asasah believes that a trained staff is very important for portfolio quality.
Once a CDO has been on the job for a year and a half he is promoted as Assistant Branch
Manager and later promoted to a BM. Assistant BMs and BM both regularly receive
training at the training centre. Asasah plans to promote BMs to Area Managers and AMs
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