Srijan 2008

Last Night I had an enriching experience at Grand Hyaat, Mumbai on microfinance. The occasion was Srijan 2008 Award Ceremony. Srijan is the Microfinance Business Plan Competition, an initiative by Intellecap. The day was full of activities. There were presentation by 10 finalists whose  business plans were chosen from the 72 participants and then there were panel discussions  and of course dinner. I along with other colleagues and friend attended the last two panel discussions which were primarily focusing on the linkage of MFIs and Investors, the options available like different debt financing models as well concerns over the growing decline trend of available fund to Tier-II, Tier-III or Start up MFIs.

Some interesting thoughts came out during those two discussions we attended. Like, if MFI  start to think of Corporate Social Responsibility or CSR then, where are we heading and another thought like,in this credit squeezed scenario, can the Bigger MFIs or so called Tier-I MFIs can lend to Tier-III or Start up Organization to make them creditworthy to banks or investors.

I must say this was eye opening for me. Microfinance is no longer mere social concept. This event was attended by people from multiple sectors, be it Asset Management Companies, Investment Banking, Venture Capitalist, Donor Agency. …and the list goes on.

It was inspiring for me to see those finalists with spark and full of confidence in their eyes to do something for the society. It was nice talking to the Man behind Bihar Development Trust, Mr. Ravi Chandra.

I was very delighted to see the Praseeda Kunam who used to our Guest Faculty in Rural Finance Subject wining the “Most Innovative Business Plan –One” award for her work in Rewa District of Madhya Pradesh. Those who know Rewa, they can understand what efforts she is putting by her own MFI Samhita there.

The final prize was awarded to Pochampally Chentha Kalanetha / Akshara. , the initiative of G Muralidhar.

After the Dinner we met with some of our seniors (alumni) and it was refreshing experience talking to them.