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Endnotes 1 See for instance CGAP (2005). 2 Moreover outgoing cross-border migrants, from India at least, tend to come from better off families with bank accounts or from locations which have banks and post offices. The cross-border remittances they receive can therefore be remitted formally by banks and money transfer companies (MTCs) with tie- ups with post-offices. With domestic migrants this is not usually the case. They come from the poorest income groups, and disproportionately from areas which have not been penetrated by the banks and where there is a special need for poverty oriented MFIs. 3 Since the destination area will usually be rural, where remittees are likely to be more spread out than in an urban area, and distributing remittances more expensive, an MFI without a presence in both areas but with existing operations in a rural area, will have even more to offer in a tie-up arrangement. 4 Adhikar is clearly competitive with India Post that charges 5 percent for money orders, and also with bank drafts in terms of access, convenience and speed, although not cost. However, it should be noted that the post office assumes a universal service obligation (it undertakes to deliver an MO to any person in the country). For a detailed comparison between the four channels, see a case study on Adhikar's operations in Gandhidham in Ghate (2005), a shorter version of which is Ghate (2006a). Data in the case study is as of December 2003, when Adhikar had 280 members. The story has been brought up to date in Ghate (2006b). Adhikar in based in Bhubhaneshwar, and undertook the remittance activity under the innovations fund of the CASHE project financed by DFID. 5 Although registered as a cooperative, it is now following the Grameen model, and has received financing from FWWB and ICICI Bank. 6 Concentrations develop over time partly because migrants from a particular originating area tend to specialize in a particular destination area to minimize search costs. 7 The reason may have to do with the fact that the bank has a relatively very minor role to play in a door to door remittance transaction, compared to the task of collection and distribution that the MFI performs at each end. The bank can merely offer a means of electronic transmission which any account holder of a bank can use for a small fee anyway. If the bank were to attempt to charge more from the MFI agent, it would be rational for the agent to conduct the entire transaction itself. 8 Such as BASIX, SHARE, Asmitha, SKS, and KAS Foundation. 98 9 Also, apparently, some of the traditional tappawalas/dabbawalas are still operating, although instead of carrying cash back (in dabbas) they now carry bank drafts!
Money Transfer Services References CGAP, 2005, "Crafting a money transfer strategy: guidance for pro-poor financial service providers" Occasional Paper No.10, March, Washington, DC Ghate, Prabhu, "Serving Migrants Sustainably: Remittance Services Provided by an NGO in Gujarat" Economic and Political Weekly, April 23, 2005, Mumbai, Ghate, Prabhu, 2006a, "Serving Migrants Sustainably: A case study of remittance services provided by a microfinance institution in India", Finance for the Poor: Quarterly Newsletter, Volume 7 Number 1, March 2006, ADB, Manila Ghate, Prabhu, 2006b, "The Adhikar story brought up to date (March 2006): Outline of presentation at the CMF, Chennai, June 2006", mimeo. World Bank, 2006, "Global Economic Prospects: Economic Implications of Remittances and Migration", Washington, DC 99
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Microfinance in India A State of th
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List of Tables Page No Table 2.1 Gr
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Preface and Acknowledgements This r
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Abbreviations ABC ADB BC BF CAR CAG
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CHAPTER 1 Overview and Summary of M
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Overview and Summary of Main Recomm
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1 1a 1b 2 2a 2b 2c 3 3a 3b 3c 4 4a
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The Light and Shades Study A major
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highest proportion of weak records
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their profitability after accountin
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allow the programme to grow organic
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1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8
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Endnotes 1 It is very hard to compa
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as cash with the groups, the true r
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linkages", 11 percent 3rd, and 5 pe
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References APMAS (AP Mahila Abhivru
Page 51 and 52: CHAPTER 3 Progress Under the MFI Mo
Page 53 and 54: Progress Under the MFI Model is fun
Page 55 and 56: Table 3.4 Comparative performance i
Page 57 and 58: Progress Under the MFI Model on lit
Page 59 and 60: Progress Under the MFI Model 4 Howe
Page 61: Progress Under the MFI Model Refere
Page 64 and 65: MFIs, and the need for MFIs to plou
Page 66 and 67: size had actually come down during
Page 68 and 69: The point at which peer group press
Page 70 and 71: The lack of contact and communicati
Page 72 and 73: Box 4.1 Continued 4. MFIs will coll
Page 74 and 75: Endnotes 1 There will be many disag
Page 76 and 77: 19 The base suicide rate in AP is 1
Page 78 and 79: References APMAS, 2005, "A Report o
Page 80 and 81: (such as cattle and houses), and co
Page 82 and 83: The advantage of the provider model
Page 84 and 85: Some lessons learnt from experience
Page 86 and 87: Box 5.2 VimoSEWA: Synergies between
Page 88 and 89: 86 Table 5.1 Main Feature of Health
Page 90 and 91: Endnotes 1 While the microinsurance
Page 92 and 93: 16 A little less than a fifth of th
Page 94 and 95: 29 The rationale for transfer progr
Page 96 and 97: Roth, James and Vijay Athreye, 2005
Page 98 and 99: Issues and priorities for action re
Page 102 and 103: 100
Page 104 and 105: such as Chaitanya who soon became s
Page 106 and 107: money to support operational expens
Page 108 and 109: finance, and the microfinancial ski
Page 110 and 111: Box 6.1 Continued in experts and to
Page 112 and 113: Endnotes 1 In a sense it always was
Page 114 and 115: 16 Examples are Margdarshak in Luck
Page 116 and 117: 114
Page 118 and 119: Table 7:1 Commercial bank exposure
Page 120 and 121: The main constraints to the expansi
Page 122 and 123: further review, RBI has modified th
Page 124 and 125: 9 Thus ICICI has sold some of its b
Page 126 and 127: B. Equity Investments by the Ventur
Page 128 and 129: Figure : The Bellwether triangle Lo
Page 130 and 131: Despite the weaknesses the public s
Page 132 and 133: Box 7.1 Continued foreign sources o
Page 134 and 135: Endnotes 1 At this point they will
Page 136 and 137: References ACCION, 2003, "The Servi
Page 138 and 139: SIDBI Foundation for Micro Credit (
Page 140 and 141: categories, depending on the amount
Page 142 and 143: The distribution of total disbursem
Page 144 and 145: Endnotes 1 It should be noted that
Page 146 and 147: B. Donor Participation in Indian Mi
Page 148 and 149: this has dropped to 8% on the curre
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and poor populations. More directly
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and expansion of available retailer
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11 SDC through various programs for
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154
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1.1 Impact evaluation of Spandana's
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in the loan tenure of 24 months. Th
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There are two main motivations of a
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compensation structures used by Ind
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Endnotes 1 By Annie Duflo, Anvesha
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29 The main components of direct tr
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