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The book “Rajasthan Micro Finance Report 2010” is written by Pranay Bhargava (Mining 2002) and Jai Pal Singh. The book is targeted at policy makers viz. state and central government, World Bank group, United Nations and developmental institutions, to help them chart out more effective poverty alleviation/ financial inclusion strategies.
(Pranay Bhargava)
Pranay is a Chartered Financial Analyst and earned his CFA® charter from CFA Institute, Virginia, USA. He did his MBA from Asian Institute of Management, Manila, Philippines. He founded ORYZA CONSULTING PVT LTD, Jaipur, India in May, 2010.
Note: You can completely view/download the above book using GoogleDoc. Just click on the above book image from the website www.oryza.in. For a hard copy, please drop a mail at pranay.bhargava@oryza.in. The book has been published with support of Sir Ratan Tata Trust (SRTT) and Ford Foundation, USA and is priced at Rs. 300 only.
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Foreward (taken from the book)
We are glad to share with you the 'Rajasthan Microfinance Report 2010'. This report is the conclusion of over two years of work of Centre for Microfinance, to which numerous people across sectors contributed. I would like commend team of CmF for this effort and dedicate this report to all those who participated in consultations, workshops and studies organized by the Centre.
Our studies and interactions have convinced us of the vast potential of microfinance in Rajasthan. To realize this potential fully, however, concerted and sustained efforts will be needed. This report is a small step in that direction.
The report brings out the current status of the sector in Rajasthan. It is done in the context of the need for financial services among rural people, particularly the poor. It reveals the limited nature of investments that have been made in the sector so far and projects the requirement.
CmF remains committed to pursue its journey along this path. We welcome you to join us in this important endeavor.
Dr. Anil K Khandelwal
Chairman, CmF (Centre for Microfinance)
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The book is also reviewed by Asian Institute of Management, Manila, Philippines
Meg Lee at Wednesday, October 27, 2010
Pranay Bhargava, AIM MBA 2007 major in finance and CFA level 3, has co-authored a book on microfinance entitled "Rajasthan Microfinance Report 2010". The book encapsulates key developments and trends in the microfinance sector at Rajasthan, India. The book points toward solutions for various stakeholders based on intensive research.
With a finance background from his days at AIM, Pranay took an elective course on Banking with the Poor with Professors Ron Chua and Mau Bolante. He says that “their elective was the starting point…a tremendous learning source”.
To download the book you may go to Pranay's website.
Click http://www.oryza.in/livelihood-promotion
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About the published book (By Pranay Bhargava)
Summary:
The book presents current status of microfinance in Rajasthan, India. It encapsulates key developments and trends in microfinance sector. It delves deep into issues facing poverty alleviation initiatives in the state and concludes by making recommendation for various stakeholders and policy makers. The book starts by analyzing the current status of Self Help Group movement in state followed by analysis of burgeoning Microfinance Institutions in the State. An in-depth analysis of problems facing SHG – Bank linkage program and of credit demand-supply gap in state is captured thoroughly. The book also analyses the robustness of recent policy initiatives of Government in India. A concluding chapter makes recommendations that are needed to revamp and strengthen poverty alleviation policies in the state.
Detailed Description:
The book was launched by Dr. C. Rangarajan, Chairman, Economic Advisory Council to Prime Minister and RBI’s ex-governor at a 3-day event “Colloquium 2010” in Jaipur. The event was attended by various stakeholders viz. Self Help Group leaders, SHG promoting institutions, NGOs, top management from banks, government functionaries etc. This book encapsulates key insights from analysis of primary and secondary data provided by government bodies, banks, NGOs, Microfinance Institutions, NABARD, along with primary research.
The book recommends that the SHG movement should reach out to all poor (not just BPL) including small and marginal farmers. The book pitches for a common approach by government and banks. All SHGs, irrespective of their pedigree should be looked at through a single lens and should have uniform systems, processes, operations, book-keeping, record-keeping, grading, auditing and quality standards. There is also an urgent need for a comprehensive database of SHGs in Rajasthan. SHPI-wise or scheme-wise database may be of little use. What is needed is a comprehensive database of all SHGs, irrespective of their pedigree. In next 3-5 years, efforts should be made to federate the SHGs in to village, cluster and block level federations. The book also pitches for promoting ‘area centric’ federations of SHGs rather than ‘promoter centric’ federations. A need for strengthening SHG movement in Weaker Areas like Nagaur, Dholpur, Dausa, Karouli, Barmer, Jodhpur, Pali, Jalaur, Alwar and Rajsamand has been identified.
The book recommends an exclusive SHG credit fund or special purpose vehicle (SPV) to deliver credit to SHGs in state, wherein, SHG federations can effectively take up the role of financial intermediation. It further asks for investment to tune of Rs. 250 cr by government and banks to improve the quality of existing SHGs and create good quality SHGs. This investment of may be viewed as a part of developing financial infrastructure. Government and Banks should come forward and invest in building potential base of its future clients. Moreover, private and public investment for improving productivity and business development services for enabling micro-entrepreneurship should be targeted in a phased manner.
Last but not least, the book pitches for allocation of a certain percentage of priority sector lending targeted to SHG bank linkage. It also requests state government to consider setting up a body for SHGs in Rajasthan with equitable mix of government functionaries, SHPIs and SHG community leaders in form of 'Rajasthan Micro Finance Mission or Rajasthan SHG mission'.
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(if you having troubles, try posting your comment on this page or send an email to chronicle @ itbhuglobal.org)Institute of Technology, Banaras Hindu University
Varanasi 221005, UP