Interactive Synergy Meet held at AMFI-WB Training & Research Centre, Kolkata

 

Kolkata: SBI, ABU & GSS Department, Kolkata Circle, organized jointly with AMFI-WB (State Association of Microfinance Initiations in West Bengal), a State Level MFI (NBFC, NBFC-MFI and NGO MFIs) Interactive Synergy Meet on the occasion of Bank’s Day at HP Ghosh Bhawan, AMFI-WB Training & Research Centre, New Town, Kolkata.  The same was attended by 15 MFIs, large & Medium Sized based out of West Bengal and operational across different states with a gross loan portfolio of Rs10,000 Crores serving a customer base of 30 lac beneficiaries. The different Bank products were discussed and the concern areas of the MFIs addressed. SBI renewed its commitment to address the financial needs of the sector towards serving the underserved.

The following SBI delegates were present in the Meeting: Shri Sidhartha Sankar Dash, GM, ABU & GSS Department; Shri Alok Jain, DGM, ABU & GSS Department; Shri Vinod Kumar, AGM, Agri Commercial Branch; Shri Umesh Dubey, AGM, SME Salt Lake; Other Officials from SBI.

 

The following major MFI Leaders attended the Meeting: Shri Kartick Biswas, MD, Uttrayan Financial Services Pvt. Ltd.; Shri Ganesh Chandra Modak, MD, Grameen Shakti Microfinance Pvt. Ltd.; Shri Pranab Rakshit, MD, Sarala Development and Microfinance Pvt. Ltd.; Shri Subrata Ghosh, MD, Servitium Financial Services Pvt. Ltd.; Shri Alok Biswas, MD, Janakalyan Financial Services Pvt. Ltd.; Shri Bishwajit Das, MD, WEgrow Financial Services Pvt. Ltd.; Shri Jaydeep Ghosh, CEO, Jagaran Microfin Pvt. Ltd.; Shri Abhijit Bera, MD, STEP; Shri Animesh Naiya, CEO DCBS.

The MFI Leaders shared the following concern to SBI:

·       Co-lending is a very viable model that MFI is doing with SBI in 80/20 mode.

·       Rating is a concern for co-lending with SBI and we can request SBI to revive it and it will be good for the mid-size MFIs.

·       SBI may look in to the MFI in new framework so that MFIs as well people will be benefited.

·       West Bengal is much safe place for microfinance industry compare to other state.  Funding is a problem for West Bengal based MFIs. SBI is requested to expand it coverage with more co-lending model.

·       Rating is a serious concern for SBI lending and that is why most of the MFIs portfolio is under BC model.

·       MFIs also urge SBI for BC support particularly for BC organizations.

·       SBI may look in to the concern of treating MFIs as per portfolio when Borrowers are same, risks are same, and qualities of portfolio are same then why considering portfolio size?

·       SBI can release the MFI collateral after steady recovery process. 

 

The SBI Officers shared the following concern to MFIs:

·       SBI is always with you to extend our best possible support and the recommendation you made, we shall definitely pass it to concern authority.

·       Your portfolio with SBI is around 500 Crores and it is not a small amount. Shri Alok Jain shared his contact number and whenever, you feel to contact me you can.

·       After listening from you SBI is noted down that area wise or geography wise rating can fix up and we need to work on that.

·       We believe that joint coordinated effort with all of us can change the GDP of nation as well can reach last mile connectivity.

·       SBI is always welcome to have debate on various innovative product that would be suitable for MFI industry.