Rural Finance and Micro Finance

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Rural Finance and Micro Finance

• R.Bhaskaran

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The Issue

• Majority of India is financially excluded.
• Cooperative banking which is also in the rural
  finance domain is not growing at all
• Rural Financing has two possible growth paths
• Microfinance
• Business Correspondent model of commercial banks
  eventually this will be a mini bank ( my
  vision!) Commercial banks current exposure is not
  very high.
• There is an urgency to make this happen.
• There is greater possibility now as unlike the
  past ICT is an enabler of the speeding up process
• Inclusive growth is a commitment. This is not
  possible unless the sector is ready with people
  to deliver.

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The Task

• Making available in the rural areas and among
  urban poor facilities for
• Savings
• Credit
• Insurance
• Social Security
• Remittance facilities
• Counseling
• Who are involved
• MFIs ,Banks, NBFCs, Governments, NGOs, IT
  companies
• Entrepreneurial skills with the proponents also
  play an important role

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The Skill sets

• Finance
• People skill or facilitation skills
• Knowledge of rural economics
• Job routines this will be imparted by the
  employers
• IT application handling
• Branch management

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HR requirements

• Like any other business the requirements will
  range from front line staff to top management
• The sector will grow very fast in the next few
  years. Very impressive growth in the recent years
• Since the facilitation tasks cannot be performed
  by IT or computer Human skills will be equally
  important
• The sector will need IT ( application) savvy
  youngsters
• If not this year in future will face attrition
  issues

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Profile

• Willing to travel
• Willing to use IT
• Flexi timings
• Good soft skills- empathy with the target
  audience
• Language skills

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What is different

• This is not an exclusive selling job. It entails
  a large amount of facilitation skills.
• The sector has good training system towards the
  same
• Most jobs will be field jobs not desk oriented
  not 10 to 5
• Employers will have different expectations

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IIBFs education Journey

• We impart skill based courses
• Focus is on education. Self paced distance
  education- supported by latest courseware and
  virtual class rooms
• Make candidates job ready
• Professionalize the employee
• Cover banking, NBFC, Collection agents, Home Loan
  advising, Commodity derivatives, Financial
  Advising
• Micro Finance Professionals (89/101)
• Employees of Business Correspondents (
  training cum certification being launched
  shortly)

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Why take up such courses?

• Makes the candidate job ready
• Sectors training cost can come down
• College and University education is too general
  and at times too vast for specific jobs and
  sectors. Such diplomas become a value add
  qualification

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ITES-BANKING for 12th pass
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Offers Courses to the employees of
12th pass DOEACC
Graduate and Final Year Students