About 7th Eastern India Microfinance Summit 2023 :

“The Next Gen Microfinance - Role of digital technology in the evolving roadmap of Microfinance”

Introduction: The 7th Eastern Indian Microfinance Summit is announced to reevaluate the strategic roadmap necessary for the microfinance industry to build products equipped with adequate digital tools and technologies to serve their clients with a robust, dynamic and sustainable approach. The recent RBI-released guidelines for the microfinance industry have embarked on a strong penetration within the industry across the value chain, enabling their clients to make informed decisions related to credit, and loans. The Next Gen Microfinance Summit will facilitate the discussion of various trends and scenarios in the microfinance industry in West Bengal and the Northeast region addressing the challenges and possible solutions to overcome them.

The recent RBI-released guidelines for the new regulatory framework in microfinance are expected to bring traction and flow in the steady demand and asset quality improvement. The industry has witnessed a growth of 80% in loan disbursement during the first quarter of FY 23 on a year-on-year basis. This growth is likely to continue because of the conducive policy, pent-up demand and branch network expansion. Within the revised guidelines, to qualify as microfinance the common household limit should be under Rs 3 lakhs. This new regulatory framework applies to banks, NBFCs and SFBs engaged in the MFI sector.

This year’s session is expected to be attended by the MFI practitioners, regulators and funders to discuss most pertinent issues facing the sector.

Inaugural session

The inaugural session will discuss the key issues around the main theme ‘The Next Gen Microfinance’. The key issues discussed in this session will include:

  • How can digital transformation help in achieving financial Inclusion?
  • A retrospective on the past historical learnings and how the MFIs can step into the evolving landscape ahead
  • What are the key trends and scenarios in the microfinance industry after the new regulatory framework in 2022?
  • How will MFIs cope with the underlying opportunities and challenges in seeking digital transformation?
  • What can be the best possible practices in Indian microfinance to navigate the evolving digital landscape?

Session 1: Analyzing the financial inclusion landscape (customer segment, macroeconomic trends)

Financial inclusion ensures access to essential financial services for the underserved section of society. MFIs play an important role in improving financial inclusion by addressing the credit gap which exists in the ecosystem through the provision of micro-credit. The total registered MFIs in India are 268 registered as of 2021. Key topics discussed by the participants will include:

  • What are the current trends in MFI impacting financial inclusion?
  • Discuss different global scenarios such as MFIs in Bangladesh, Brazil and Kenya
  • How technology as an enabler can help increase the customer base in the MFI sector?
  • In what ways can government initiatives help in achieving digital innovations in the microfinance industry?
  • What role is currently played by the financial institutions and FinTech players in the MFI sector?

Session 2: Opportunities vs. Challenges for MFI across the value chain:

The MFI value chain consists of customer onboarding, underwriting, loan disbursement, loan monitoring services and collections. This session will be dedicated to addressing various points specific to microfinance across the value chain, with emphasis on the points below.

  • Discuss the present MFI value chain and its key ways of functioning.
  • What are the opportunities for MFIs across the value chain, in terms of front office, mid office and back office?
  • Address the challenges faced by MFI across the value chain
  • In what ways can MFIs overcome these challenges?
  • Discuss the enablement of MFI stakeholders such as – customers, banking correspondents/agents and MFI employees

Session 3: Role of emerging technologies and digital rails in enabling transformation for MFIs

The stakeholders in the MFI industry such as Fintechs, regulators, government and SROs have a key role to play in the digital transformation of the sector. This session will be dedicated to discussing various issues faced by the players in the MFI industry and how different stakeholders can address them. This session will facilitate discussions based on the following aspects.

  • In what ways can insurance companies improve their product offerings and deliver them efficiently to the low-income market? Additionally, discuss the enablement of technology as a strategy to optimize their operations and mitigate the associated market and customer risks
  • Discuss various ways to enhance lending processes focusing on better customer experience and personalization followed by monitoring and collections.
  • Discuss the enablement of MFI stakeholders such as customers, banking correspondents/agents and MFI employees

  • In what ways can the digital India infrastructure such as JAM, UPI, APBS, AA, and OCEN drive innovation, transformation, growth and collaboration for MFIs?
  • The significance of data privacy and cyber security in the digital transformation

Session 4: Way forward: Moving towards next-gen digital-driven microfinance landscape:

MFIs can offer next-gen solutions to their clients through product co-creation with digital innovation, talent and workforce development, thereby improving the MFI’s financial and social performance. The digitally-led workflows can increase more streams of data enabling a digital-driven decision-making approach. Through partnerships and collaborations in the ecosystem with FinTech players, MFIs can address a wider underserved segment. In this discussion, the panel will involve conversations on the possible roadmap needed to navigate through the digitally-led microfinance landscape.

  • What is the probable future of the microfinance landscape in India?
  • How can MFIs benefit through ecosystem collaboration such as partnerships and alliances?
  • Discuss the most viable technologies for achieving sustainable next-gen microfinance.

  • What measures can be taken by MFIs to become digital-driven institutions?
  • In what ways can the digital India infrastructure such as JAM, UPI, ABPS, AA, OCEN drive innovation, transformation, growth and collaboration for MFIs?

Target Audience/Participants and delegates

  • There will be around 400 Leaders and senior officials from MFIs (NGOs as well NBFCs, SFBs, BCs and Bank) who are operating in West Bengal, Odisha, Jharkhond, Bihar and North Eastern States. Expected over 60 MFIs from Eastern India.
  • Banks, Regulators, Ratings Agencies,
  • Fintech, IT, Software Companies
  • Insurance Companies
  • Researchers, Scholars and Students
  • Energy Companies especially green energy providers and social enterprises
  • Mobile Banking/Core Banking Solution Providers
  • Industry association/network
  • Consultancy firm
  • All stakeholders
  • A good number of Reporters from print and electronic media

Who Should Attend

  • Heads and executives from MFIs and BC Organizations
  • Heads and executives from state and national level MF industry associations/ networks/SROs.
  • Senior Representation from the RBI (Expected)
  • General Managers, CGM, ED, MD from as many as 25 commercial and nationalized banks and financial institutions.
  • Heads and executives from insurance companies
  • Heads of rating institutions, software companies, consultancy firms
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