Microfinance Institutions Network (MFIN), the premier industry association and Self-Regulatory Organization (SRO) for the microfinance industry in India organised a financial literacy event in Vidisha. The event focused on creating awareness about banking and non-banking financial institutions in public along with highlighting role that Non-Banking Financial Company-Microfinance Institutions (NBFC-MFI) play in financial inclusion and complementing the banking institutions’ network in India.
The session was attended by Vidisha District Collector MB Ojha, CEO - Zila Panchayat, Vidisha, Deepak Arya, COO- Satin Creditcare Network limited Vivek Tiwari, COO- Fusion Microfinance Private limited Ashish Tiwari, lead Bank Manager State Bank of India VK Gupta, and Financial literacy Co-ordinator State Bank of India Kailash Sharma. Ojha in his address said, “Employment opportunities cannot be generated solely by the Government and entrepreneurship can be one of the solutions to address unemployment and for this banks and private sector financial institutions have to step in to provide credit facilities to those who want to start a business of their own.”
Arya said, “It is important for the common public especially for the weaker section and the women, who are responsible for the affairs of the family, to not only have a formal bank account but also judiciously make use of all the financial services available to them through bank and institutions supporting the financial inclusion efforts of the banks.”
Vivek Tiwari said, “It is important to reach out to unbanked population and include them in the financial system so that they can get benefits of financial services and products.”
Ashish Tiwari said,” Access to finance has been a lot easier in comparison to what it was ten years back but the customer participation is equally important to make use of
these services.”