Financial Inclusion Conference - Sa-Dhan

F i n a n c i a l I n c l u s i o n C o n f e r e n c e - 2 0 1 2“The First Mile Walk into the Financial System”effective in helping identify the levels of indebtedness that clients have. Clientshave themselves realized that MFIs are now able to determine where they haveborrowed from, and would not try to hide information.S E S S I O N - 1In closing comments on measures of success, Ms Bansal said that financial inclusionis about quality and it is important to put clients interest first. Mr TK Arun said thatindividual credit rating for rural borrowers would put banks in a more comfortableposition in providing credit. Mr Reed reiterated that we need to see success ofclients as the success of microfinance, adding that since savings is critical for clientsto succeed, there is a need for regulations to allow either MFIs to provide savingsservices on their own or as correspondents of banks. Mr Sinha said that a holisticmodel including all financial services such as savings, credit, insurance andremittance with technology as an enabler is important for successful delivery. DrBellamkonda said that the overall success should be seen in context of povertyalleviation, which is an ongoing process.9