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Microcredit Initiative
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What is ͙͙
Microcredit
Very small loans

Unsalaried borrowers (no/little collateral)

Provided by legally registered institutionsÀ

Microfinance
Broader range of financial services

Wider range of opportunities

Microcredit, micro savings, micro insurance, housing loans etc

Targeted at poor and low-income group


9istory of microfinance in India

Substantial resource allocation to microfinance post


nationalization in 1969

Credit flow remained an issue to certain segments of rural poor

Institution driven microfinance(Launch of NABARD)

Launch of IRDP

NABARD and MYRADA work

Swarnjayanti Gram Swarozgar Yojna(SGSY) in 1999

S9Gs, JLGs and MFIs


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Production Agriculture
, 10% , 13%
Others, 6%

Livestock,
23%
BREAKUP OF ACTIVITIES
Services,
UNDERTAKEN BY BORROWERS
25%
Source: SKS Microfinance Ltd.

Trade, 33%
"$ % "" &$  $ 'À
ICICI Initiatives in Microcredit
Started with only 1 million customer base ʹ now 3.5 million

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Collaborated with NGO͛s and Micro Finance Institutions (MFIs) to minimize


cost and extend the network ʹ more than 200

Dedicated department : Rural Micro-Banking and Agri- Business (RMAG) for


implementing rural business strategy including Microfinance ʹ Portfolio Rs. 25
billion
ICICI Models of Microcredit
 
Direct Access Model: Bank-Led Model
ICICI ʹ Bank of Madura merger ʹ 01 Feb
2001  $
ICICI ʹ Sangli Bank merger ʹ 09 Dec 2006

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Indirect Channel Model: Partnership-


Led Model  
ICICI ʹ MFI Relation

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ICICI Microcredit͙. A success story
Financial assistance to MFIs : Term loans, overdraft and portfolio buyout

MFIs have First Loss Default Guarantee (FLDG) with bank

Buys unencumbered, direct agricultural and/or weaker section


portfolios, originated by the MFI (registered as NBFC) through the process
of Direct Assignments.

Provides basic banking services like savings and withdrawal along with
micro-investment products like mutual funds to the rural populace

Case in study : ICICI Bank purchased a portfolio of 42500 loans worth USD
4.3 million from Share Microfin Limited in 2004

Farmer Service Centers


Self 9elp Group (S9G)/Joint Liability Group
(JLG) - Model
Affinity group of 10-20 members

Weekly group meetings

Leader elected by group members


Small and regular savings

Group has a savings bank account operated by group


representative

Internal lending to members from own savings

External loan to the Group as a whole

Disbursement of loans to members at the discretion of group


Microfinance ʹ ICICI initiatives
Micro Savings account ʹ Business Correspondent, Financial
Information Network and Operations (FINO), Smart Card, Savings
Account

Recurring & Fixed Deposit account to enable higher returns

ICICI Life provides Micro Insurance

ICICI General provides non-life insurance including


health, weather and cattle insurance

ICICI AMC launched India͛s first MSIP with minimum amount as


low as USD 1
Microfinance ʹ ICICI initiatives contd͙.

Micro ICICI Godown Security System ʹ loans against the produced

stored in warehouse

͞No white spaces͟ strategy ʹ touch point within 10 kms. of any


customer

͞Kamdhenu ʹ Cattle Loans campaign͟ to cattle farmers which

received two awards; RMA India Award and WOW Events and

Experiential Marketing Awards


Growth Opportunities͙..

300000
300000
200000
100000 30000
0

Current
Microcredits Total
by MFIs microcredit
demand
(India)

+1 $  &$$      $ 

"$ % "" &$  $ 'À 2*   


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