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VAMA’S EMPOWERED WOMEN

NOORAIN KAZMI SPJIMR DOCC Project Report

4th March – 13th April 2013

1

ACKNOWLEDGEMENT

We would like to express our thanks to the Dean Dr. M.L Srikant for giving us the opportunity

to take up this project.

Our sincere thanks and gratitude to Prof. Nirja Mattoo, Chaiperson, Centre for

Development of Corporate Citizenship for allocating us this project and providing her

invaluable guidance all along.

We would also like to thank Prof. Lata Dhir for her guidance which played a huge role in the

final outcome of the project.

We would like to express our sincere thanks to Mr. Indra Bhushan Verma, CEO, VAMA our

project guide. We would also like to thank the staff at VAMA for their help and support.

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contents

Featured Articles

03 Executive Summary

04 Background

05 Problem Definition and Framing

05 Context of the project

07 SWOT Analysis

08 Methodology Used

08 Scope of the Project

08 Field Work Executed

09 Assessment and Experience

Sharing of Hardships Faced by the Community

16 Analysis of Findings

16 Conclusion

16 Recommendations

18 Specific Contribution to DOCC Project

19 Appendix

07 Problem Statement

07 Project Objectives

10

10 Critical Review of Unstructured

Processes and Systems

10 Microfinance Impact Survey

11 Survey Findings

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EXECUTIVE SUMMARY

Established in the year 1988, VAMA (Bal Mahila Vikas Samiti), a non-profit voluntary

organisation, aims at establishing an egalitarian society. Activities extend to training the

women folk on resource generation, financial literacy and promoting ecologically sustainable

farming system. VAMA made its foray into microfinance in July 2006 with a strong

background of two decades of social work.

The scope of the project involved the assessment of the long-term and sustainable changes

in the lives of women, households and communities catered by VAMA’s microfinance and

social development programs. To assess the impact both qualitative and quantitative

techniques were used. A case study was performed on a client of VAMA’s microfinance. A

total of 100 women (Target Group + Control Group) were surveyed to assess the impact on

household level, personal level and enterprise level of the clients.

From the survey it was found that

1. 65.5% of the clients reported increase in their income and 70.7% reported increase in

savings.

2. 32% and 21% of the target group and control group respectively received credit from

sources other than VAMA’s microfinance.

3. 53.4% respondents were completely satisfied with VAMA with no dislikes.

4. 46.6% of the clients were most satisfied with VAMA’s low interest rates.

5. In the target group, there was a shift in economic decision making in the household

from men to women or to joint decision making.

6. Several women started new businesses and reinvested in existing microenterprises

It was recommended that

1. VAMA should increase its efforts to reach out to clients and to increase the loan

amount given to individual clients.

2. There is a need for development of new products such as savings, insurance, leasing,

money transfers, etc.

3. In order to increase client volumes, managing larger loan portfolios and to introduce

new products, VAMA’s operational capabilities have to be improved.

4. VAMA should establish Key Performance Indicators (such as number of new groups

formed; collection time) for Field Executives and provide additional incentives such

as increments in salary, etc. based on these indicators.

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A. BACKGROUND

AMA, a non-profit voluntary organization, was registered in 1988 under Madhya

Pradesh Societies Registration Act 1973. It works for creating equality for the poor,

marginalized and deprived women. VAMA has been operating in the backward and

drought-affected Gwalior, Chambal and Bundelkhand regions of Madhya Pradesh. VAMA

targets both rural and urban population.

Currently, VAMA covers 191 villages, 48 gram panchayats and 32 urban slums. The head

office is situated in Gwalior, MP. Customers generally hear about VAMA through references

and majority of them are repeat clients. VAMA markets its business through word-of-mouth,

door-to-door, internet, leaflets/brochures and phone. Majority of clients of VAMA fall below

₹10,000 monthly income per household.

V

MICROFINANCE PROGRAM

SOCIAL DEVELOPMENT PROGRAMS

VAMA GROUP OF COLLEGES

Dairy

Agriculture Micro-enterprises Services

House Repair and Maintenance

Women Empowerment Health Livelihood Promotion

Child and Education Female Feticide Natural Resource Management

Domestic Violence

BBA, BCA, B.Com, B. Sc (Bio) ANM in Datia district for training

women in nursing

Programs under VAMA

MISSION

VISION VALUES

“To provide easily accessible, quality financial services to poor clients especially women for

improving their quality of life”

“To become the best microfinance service provider, reaching 50,000 active clients by 2018 in Gwalior-Chambal region

of Madhya Pradesh”

Accountability Transparency Professionalism Effective team work &

respect for all Commitment

Gender equality

Core of VAMA’s Strategy

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VAMA wants to be known as an organization which provides excellent MF services to poor

women. VAMA plans to reach 50,000 active clients by 2018 by introducing individual and

emergency loans besides the main JLG(Joint Liability Group) product line.

VAMA is headed by Mr. Indra Bhushan Verma, CEO. It has three separate divisions: Social

development programs, microfinance and VAMA group of colleges. The hierarchy is shown

in the organization structure above. VAMA currently has more than 30 employees. The

turnover rate is around 20%.

Currently, VAMA is financially stable with a consolidated profit of ₹23,12,257 and a loan

portfolio of ₹3,00,20,205. A comprehensive list of institutes related to VAMA can be found in

Appendix-B

B. PROBLEM DEFINITION AND FRAMING

Context of the Project

VAMA Microfinance

he microfinance sector in India recorded a positive growth during the year 2012-

2013 despite the catastrophe in the state of Andhra Pradesh. India has the largest

MFI sector in the world with 62% per annum growth in terms of number of unique

clients and 88% per annum growth in terms of portfolio over 2005-2010 . The number of

effective clients in March 2011 end is lower by 65% than in the previous year. This is mainly

due to write-off of a large number of clients in Andhra Pradesh. The number of borrower

accounts is still more than twice the number of accounts catered by the Regional Rural

Banks.

T

Executive Board Chief

Functionary

Social Development

Programs

Project Manager

Village Level Motivators

Program Associate

Accountant Asst.

Accountant

Microfinance COO Branch Manager Asst. Branch

Manager Field Officers

VAMA Group of Colleges

Director Principal Accountant Teaching Faculty

Organisation Structure of VAMA

6

VAMA microfinance was started in 2006. VAMA offers microcredit to poor women for the

following purposes: dairy, agriculture, microenterprises, services and house repair &

maintenance. VAMA has adopted the JLG approach wherein 5 to 10 members come

together to form a group. The interest rate is 24% per annum on a reducing basis. The

repayment rate is around 98.5%.

Social Development Programs (SDPs)

VAMA started as an organization in 1988 with the main goal of empowerment of women by

engaging in social development programs. VAMA is still doing these programs. These

programs do not generate profits. Some of the main programs are:

1. Sustainable livelihood Program (CASA): The project aims to increase the

participation of women in Panchayati Raj institutions. The training includes building

awareness and capacity of elected women.

2. Financial Literacy program: The program tries to change the attitude of women

towards money or their financial behavior. The knowledge of difference between

consumption and investment, methods of interest calculation, fungibility and

difference between avoidable and unavoidable expenses is provided to the women.

3. ASHA training: VAMA in association with the government of MP has taken the

charge to provide training to ASHA’s in the Datia district of MP.

4. International Women’s Day (IWD): VAMA celebrates IWD by organizing social

programs in villages. This year a program to spread awareness on female feticide

was organized in Rora village.

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SWOT Analysis of VAMA

Problem Statement

VAMA used no tool to measure the effectiveness of its MF and SDPs and to know how

women are affected by its initiatives. This hindered VAMA to take certain decisions regarding

its expansion and growth. The satisfaction level of clients was not known to VAMA. An

impact study was necessary to gauge VAMA’s work.

Project Objective

The main objective of the project was to make VAMA self-aware about its work and to know

the opinion of the clients and various stakeholders about the effectiveness of VAMA as an

organization. The objective was to be achieved by the following:

1. By making an impact study as to what changes VAMA MFI has made on the lives of

the women, households and communities involved.

2. By making an impact study as to what changes VAMA’s SDPs have made on the

lives of the women, households and communities involved.

3. By recommending on the new products which need to be designed for the future to

meet the requirements of the people like education loan, emergency loan, etc.

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C. METHODOLOGY

Scope of the Project

he scope of the project involved the assessment of the long-term and sustainable

changes in the lives of women, households and communities catered by VAMA’s

microfinance and women empowerment programs (CASA’s reinforcing women for

Sustainable Livelihood, NABARD’s financial literacy and Asha training). To assess the

impact both qualitative and quantitative techniques were used. The women and their

households were observed while visiting their houses during microfinance activities of group

formation, collection, etc. In-depth interviews were taken of participants of sustainable

livelihood program, financial literacy programs and Asha training. A case study was

performed on a client of VAMA’s microfinance. A total of 100 women (Target Group:57;

Control Group:43) were surveyed to assess the impact on household level, personal level

and enterprise level of the clients. The target group consisted of women who had been

clients of VAMA’s microfinance for more than 2 years. The control group consisted of women

who were new clients of VAMA’s microfinance (loans had not been disbursed to these

women or had been disbursed for fewer than two months).

Field Work Executed

No. Days Area Details

1 3 Kale Kar Bai Ki Goth Tehsil, Gwalior District.

Observation of 3-4 group formation processes in urban slums of Gwalior

2 2 Morar District Observation of 10-15 group collection processes 3 1 Kale Kar Bai Ki Goth

Tehsil, Gwalior District. Group recognition test by following the same group with Deepak Malhotra, Branch Manager and Punita, Field Executive.

4 1 Morar Accompanied Branch Manager, Deepak Malhotra and Field Executive, Madan field investigation process

5 1 Raura village, Gwalior Women’s Day Event - Creating awareness on female feticide.– Guest of honor and main speaker.

6 1 Datiya Observed Asha training process. Interviewed five trainees, three trainers and VAMA officials in charge of the five-day residential training program.

7 1 Dabra In-depth interviews with a group of 20 women participants of Financial Literacy program.

8 1 Berja Interviewed Branch coordinator of Bank of India, Berja branch

9 1 Veerpur Girwai In-depth interview of Badami Bai 10 4 Shreeja: Around 20

urban slums in and around Gwalior and Morar district

Impact Assessment Survey – 40 respondents.(20 target group, 20 control group)

11 4 Noorain: Around 20 urban slums in and around Gwalior and Morar district

Impact Assessment Survey – 40 respondents.(20 target group, 20 control group)

12 1 VAMA, Gwalior Office Disbursement process

13 2 VAMA, Gwalior Office Attended two day seminar by INBAR on financial security of NGOs and rural livelihood generation and presented findings of our impact survey. Mr. Bharat Parekh – Senior Programme Officer INBAR Dr. I. V. Ramanuja Rao – Programme Director INBAR

T

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Assessment and Experience Sharing of Hardships Faced

by the Community

An in-depth interview of Ms. Badami Bai, one of the clients of VAMA MF, was taken

to know about the hardships faced by her and how VAMA MF had improved her life.

The audio interview can be found in Appendix-D

Badami’s husband left her after marriage and she went to her father’s home with her

two sons. She worked in a factory earning ₹50 per day. It was very difficult for her to

manage her family alone. With such low earnings she had to make her sons drop out

of school and she made them work as wage earners.

In 2006, Badami joined the VAMA MF program. From the first loan amount, she

started doing sewing work. She always wanted to sell bangles and the second loan

amount of ₹10,000 helped her to procure bangles for selling. Her business is growing

steadily. Her grandsons are attending private school, she has a television, a fan and

a cooler and she dreams of constructing two additional rooms.

The VAMA MF is helping not just Badami but thousands of other women who were

just sitting in their houses doing house work and were not being a part of the family

income generation. Indirectly, the program is making the women stand on their own

feet and empowering them.

At the Asha training centre at Datia, interviews were taken of Ms. Manji, Ms.

Anuradha and Ms. Baisakhi. They were very shy in answering the questions but

whatever they said was noted. They have been working as Asha from 5-6 years.

They travel around their village twice in a week. They said they are doing this work

as Asha so that they can earn some money for their family. They enjoy doing their

work and also get respect in their communities. The interview transcript can be found

in Appendix-D

Asha training program is an initiative by the government of India. The main objective

of the program is to lower infant mortality rate and mother mortality rate. VAMA is

doing a good work for the community by training the Ashas.

We also interacted with participants of Financial Literacy programs. Before the

program, they did not know about savings and bank deposits. But now most of them

save around ₹1500 per month in their Bank of India (BOI) accounts. We also talked

to the Branch Coordinator of BOI who was happy with the increase in the number of

bank accounts after financial literacy program and he also told us that the number of

women visiting the bank has increased drastically.

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Financial literacy program started only 6 months back. There is much to be done in

this field. Most of the women interviewed had little or no knowledge of savings. One

of the women told us that she got no benefit from the program. So an assessment is

necessary to gauge the impact of this program.

Unstructured Processes and Systems

There is no HR department in VAMA but there is an HR manual.

VAMA employs children below the age of 16 years as office attendants.

The operation, accounts, HR and business development manuals have not been

signed by the head of the organization and they have not been updated for a long

time. The manuals could not be regarded as official manuals.

The dropout rate was found to be high. One of the finance manager left the

organization during our training. There was no backup for him since other staff was

not well trained to handle finance.

VAMA uses no tool to gauge the impact of its MF programs and SDPs.

There is high dependency on Mr. Indra Bhushan Verma.

The website has not been updated for a very long time.

Microfinance Impact Survey

SURVEY OBJECTIVES AND DESIGN

The study focuses on the assessment of the long-term and sustainable changes in the lives

of women, households and communities catered by VAMA’s microfinance.

Both qualitative and quantitative techniques were used. For the impact survey, standardized

data was collected. Qualitative techniques of in-depth interviews with clients and case

studies were used.

In our survey the control group respondents have either already formed groups or are in the

process of forming groups (hence any characteristic thought to be unique to VAMA members

applies to them as well) but the loans have not yet been disbursed or have been disbursed

for fewer than two months.The assumption is that those choosing to join the program are

similar to existing clients in terms of demographic characteristics, motivation, and business

experience and thus offer an appropriate and easily identified comparison group. A total of

100 women from a representative set of villages and urban slums of Gwalior district

participated in the survey.

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38%

35%

17%

10%

Target Group

Illiterate

Primary

LowerSecondary

Secondary

33%

41%

19%

7%

Control Group

Illiterate

Primary

LowerSecondary

Secondary

26%

59%

16%

14%

43%

43%

>40

Between 30 & 40

<=30

0% 20% 40% 60% 80%

Control Group Target Group

Survey Findings

LITERACY LEVELS OF RESPONDENTS

The target group has 73% of illiterate and only primary-schooled women while the control

group has 74% of women with these qualifications. The average number of years in school

for both the groups is four years. Since the literacy rates for both the groups are similar they

aren’t expected to significantly bias comparisons between these groups.

AGE PROFILE OF THE RESPONDENTS

The respondents of the target group are older

than those of the control group. One of the

reasons behind this difference in the “> 40”

category could be because only women under

50 are allowed to form groups, but women in

existing groups can continue even if they turn

older. Older women can be said to have more

experience, more time to accumulate skills and

assets. This may be an external factor the

biases our results in favor of the target group.

CREDIT SOURCE Loans from sources other than VAMA are an

external factor that could bias our impact study as

the positive or negative effects observed could be

due to these loans and not necessarily because of

VAMA’s microfinance program.

Most of the respondents in either of the groups

currently do not borrow from any other source, and

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the ones that do usually depend on friends (part of “Others”) and family members.

Households that are currently members of VAMA’s program are also reaching out more to

other sources of finance – banks and other microfinance institutions (Samhita MF).

However, higher levels of indebtedness, especially if unsustainable – i.e. not supported by

proportionate income generation, is harmful for the household in the long run. The average

loan size for the target and control group is Rs. 7906 and Rs. 2967 respectively.

ECONOMIC FACTORS: Income changes, Vulnerability Reduction, Asset Growth, Outcome level of enterprises INCOME CHANGES

Change in income as compared to previous years

65% of the target group reported an

increase / large increase in their

incomes over last year as compared

to 43% of the respondents from the

control group.

Even if we assume that this reported increase in income is not directly caused by VAMA’s

loan, we can see that there is increased confidence and optimism about their household

incomes over last year.

The average annual household income is considerably higher for the target group, so is the

per capita income of their households.

Average annual

household Income

(Rs.)

Average annual household

income per person (Rs.)

Target Group 183441.38 38668.95

Control Group 144119.05 36490.79

Difference 39322.33 2178.16

2

14

33

43

53

43

12

0% 20% 40% 60% 80% 100%

Target Group

ControlGroup

Decrease No change Increase Large Increase

13

VULNERABILITY REDUCTION Diversifying income and vulnerability reduction

In the Bundelkhand region, there is a period of

drought every two to three years. Hence,

income from farming is vulnerable in these lean

years. Income from other sources in these rural

households becomes especially important. Even

in urban households, an extra source of income

reduces vulnerability to shocks such as the

bread-earner falling ill. 63% of the target group

households have more than one source of

income, while only 40% of the control group falls

in the same category.

Sector of activity

Most of workers from both groups are either wage earners or work in the construction

industry. Some of the most popular occupations are constructing roofs, sewing and trading

(small kirana stores).

ASSET ACCUMULATION AND GROWTH The difference in asset accumulation of the target and control groups is most significant in

assets of modest value (radio, cycle, chair/table, gas/stove, bed with frame), less significant

in assets of moderate value (fridge, TV, Motorcycle) and almost negligible in assets of high

value (car / pickup truck, tractor). One of the limitations of the survey was not recording

other assets such as cell phones, coolers etc, which were more common to these

households than bed with frame and radios.

12.4%

12.4%

2.7%

2.7%

5.3%

5.3%

0.9%

11.5%

5.3%

22.1%

7.1%

2.7%

9.7%

7.8%

12.5%

1.6%

7.8%

1.6%

14.1%

4.7%

18.8%

7.8%

3.1%

20.3%

Sewing

Trade / Store

Food Processing / Vending

Handicrafts

Farming

Livestock

Personal Services

Mechanic

Carpentry

Wage earner / Construction

Office work

Transport

Others

0.0% 5.0% 10.0% 15.0% 20.0% 25.0%

ControlGroup

TargetGroup

37

60

35

29

21

11

7

0% 20% 40% 60% 80% 100%

Target Group

Control Group

Single source Two sources Three sources Four sources

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For the target group, 41%

of the assets of modest

value, 50% of assets of

moderate value and 33%

of assets of high value

were acquired when they were a member of VAMA Microfinance.

Use of loan by target group

The loan amounts are not large enough to start certain kinds of enterprises but do help in

starting microenterprises such as bangle shops, chaat stalls, broom making, sewing. For

bigger enterprises, such loans help in getting working capital for the enterprise.

Household Expenses

Most respondents from the target group and the

control group quoted food as the most important

household expense. For the target group, the

second main priority was school expense followed

by clothes. For the control group, the second

highest expense was clothes followed by school

expenses.

Moderate

Value

Modest

Value

High Value

Target Group 2.45 / 5.00 1.95 / 3.00 0.03 / 3.00

Control Group 1.75 / 5.00 1.46 / 3.00 0.05 / 3.00

22%

14%

20%

2%

13%

9%

7%

12%

0%

26%

19%

17%

4%

13%

6%

4%

11%

1%

Food

Clothes

School Expenses

Health-Related Cost

Household Items

Reinvest in enterprise

Savings

Others

Don't Know

0% 5% 10% 15% 20% 25% 30%

Control Group

Target Group

25%

10%

26%

7%

32%

Sector-wise use of loan from VAMA

Commercial /trading/ retail

Manufacturing

Service

Agriculture

Non-incomegeneratingexpenditure

13%

8%

6%

27% 30%

5%

6% 5%

Use of loan from VAMA

House maintenanceand repair

Build latrine /washroom or houseextensionsStart a new business

Materials forexisting business

Machinery/Capitalfor existing business

Marriage, Hospitaland otherexpenditures

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Impact of Investment

The analysis of investment impact shows

that majority of VAMA borrowers

perceived a positive impact on their

investment. The impact mainly shows in

terms of increase in income and savings.

65.5% of the respondents have noticed

an increase in their income and 70.7%

noticed an increase in their savings.

SOCIO-POLITICAL/CULTURAL FACTORS Change in Power Relationships (Status Position)

One of the most positive impacts observed in the target group is the shift in economic

decision making in the household from men to women or to joint decision making. It was

also observed that women in the target group were significantly more forthcoming and

confident in their conversations with the interviewer and other figures of authority.

Client Feedback

Client Likes (%)

46.6% of the clients are most satisfied

with VAMA’s low interest rates. 39.7%

think that VAMA’s microcredit is a

steady source of capital and 34.5%

think that other financial services such

as savings account, insurance, etc. are

benefitting them.

Others include disbursement of loan on

time, customer services and collection

at home.

65.5% 70.7%

25%

14.1%

28.1%

6.3%

25.0%

Increase inIncome

Increase inSavings

Expandedsize of

business

Addednew

products

Improvedquality ofproducts

Reducedcosts by

buying ingreatervolume

Developeda new

enterprise

46.6%

39.7%

3%

10.3%

34.5%

12.1%

22.4%

14%

LowerInterest

Rates

Steadysource ofworkingcapital

Groupdynamics

Training orassistance

Otherfinancialservices

Easierguaranteesthan loan

alternatives

Others Don'tKnow

16

3.4%

17.2%

3.4% 3.4% 1.7%

12.1%

53.4%

13.8%

Highinterest

Size ofloans too

small

Loancycle tooshort or

long

Meetingfrequencytoo often

ormeetingstoo long

Forcedsavings orinsurance

Others Nothing Don'tknow

Client Dislikes (%)

53.4% respondents are completely satisfied with

VAMA with no dislikes.

17.2% clients felt that the initial size of the loan

was too small and could be increased.1.7%

clients felt that financial services of savings and

insurance were forced on them.

D. ANALYSIS OF FINDINGS

Conclusion VAMA’s microfinance initiative has a positive impact on the household, individual and

enterprise levels of women clients. The following is the analysis of our findings from the

survey:

Recommendations Based on our findings from this report and our observations from field visits, the following

actions can be considered to improve VAMA’s Microfinance Program.

Performance Management System

Rationale: It was observed that Field officers were able to meet the group formation targets

easily and there was no incentive for them to improve their performance.

17

Solution: Establish Key Performance Indicators (such as number of new groups formed;

collection time) for Field Executives and provide additional incentives such as increments in

salary etc based on these indicators. This would arrest the high rate of attrition in the

organization, especially at the lower levels. Also, it would motivate the field executives to

reach out to more clients, and improve the overall client experience and lifetime value.

Business Development Services

Rationale: It was found that some of the clients of VAMA MF had no knowledge of savings

and insurance.

Solution: Currently, VAMA leverages on its brand (developed through the ongoing social

development programs in the area). Some existing programs such as Financial Literacy

modules can also be offered to existing clients to strengthen the overall microfinance

program.

Document Management System

Rationale: Some of the key documents of the organization such as the business

development plan and the operations manuals have several contradictions and

discrepancies in the data.

Solution: Information such as target number of clients and new processes need to be

communicated in a consistent and clear manner. As such, all documents need to be

regularly updated with key information and other data points such as “Last updated”,

“Prepared by” and “Reviewed by” needs to be included.

Outreach and Increase of loan amount

Rationale: For two decades VAMA has been operating in the Gwalior-Chambal region.

Some clients were not satisfied with the size of loan.

Solution: The results of this survey showed that 32% and 21% of the target group and

control group respectively received credit from sources other than VAMA MFI. VAMA should

increase its efforts to reach out to clients and to increase the loan amount given to individual

clients.

Development of new products

Rationale: VAMA has a very large client base. The clients are reporting an increase in

savings and income. VAMA does not have a wide portfolio to address the needs of the

clients.

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Solution: As per the survey 65.5% of the clients reported increase in their income and 70.7%

reported increase in savings. Therefore, there is a need for development of new products

such as savings, insurance, leasing, money transfers, etc.

VAMA should conduct feasibility studies on the insurance and leasing products development.

With the development of new products, VAMA also needs to broaden its current product

(microcredit).

Enhancing of operational capabilities

Rationale: The growth rate of clients is low and the staff is not prepared to handle the

introduction of new products.

Solution: In order to increase client volumes, to manage larger loan portfolios and to

introduce new products, VAMA’s operational capabilities have to be enhanced. To allow for

competitive pricing, the current cost structures have to be optimized. Training of staff on MIS

is also required.

E. SPECIFIC CONTRIBUTION TO THE PROJECT WORK

1. Designed impact survey questionnaire by using AIMS (Assessing the Impact of

Microenterprise Services) – SEEP (Small Enterprise Education and Promotion)

Network Manual.

2. Surveyed 40 women in the around 20 urban slums and villages in and around

Gwalior and Morar district

3. Designed a survey for social security as required by VAMA. The social development

programs staff was not competent enough to design the survey.

4. Accompanied the branch manager during the activities of group formation, collection,

field investigation, group training, group recognition test, etc.

5. Addressed women as a guest of honor at International Women’s Day program in

Raura village.

6. Designed MFI survey form and took the input of VAMA about the organisation.

7. Interviewed Asha trainees at Datia district

8. Interviewed a group of 20 women who attended the financial literacy program at

Berja and Dabra villages.

9. Interviewed Badami Bai for making the case study and to know the effect of MF on

her life. The audio of the interview can be found in Appendix-D.

10. Delivered a Presentation on the impact survey result to Mr. Dr. I. V. Ramanuja Rao,

Programme Director, INBAR, Mr. Bharat Parekh, Programme Officer, INBAR and

many NGOs from in and around Gwalior.

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APPENDIX

20

Appendix-A

Abbreviations

BMVS Bal Mahila Vikas Samiti

BOI Bank Of India

CASA Church’s Auxiliary for Social Action

INBAR International Network for Bamboo and Rattan

JLG Joint Liability Group

MFI Microfinance Institutions

MF Microfinance

MIS Management Information System

NABARD National Bank for Agriculture and Rural Development

NGO Non-government organization

SDP Social Development Programs

21

Appendix-B

Network Agencies

Financial Institutes

NABARD– National Bank for Agriculture and Rural Development

Oikocredit Investing in People

Maanaveeya Development & Finance Private Limited

FWWB

SIDBI

BANKERS

State Bank of India

ICICI Bank

IDBI Bank

Indian Bank

NETWORKS

Planet Finance

CRISIL Ratings

Sa-Dhan – The Association of Communication Development Finace Institutions

BIRD

SMERA – SME Rating Agency of India Ltd.

RBS – The Royal Bank of Scotland withMICRO-SAVE

Savvy Solutions – An efficient & Effective Software Solution

Indian School of Microfinance for Women

VANI (Voluntary Action Network of India)

CREDEBILITY ALLIANCE OF INDIA

Madhyanchal Forum, Bhopal

AFPRO – Action For Food Production

PRIA – Society for Participatory Research in Asia

M.P. Voluntary Health Association

22

FUNDING AGENCIES

CASA

NEG FIRE – New Education Group Foundation for Innovation and Research in Education

Caritas India

IGSSS

Care – Defending dignity Fighting poverty

Government of India Ministry of Health Family Walfare

Canadian International Development Agency

PACS – Our rights Our voice

NABARD

THE SAMDASANI FOUNDATION

GOONJ

23

Appendix-C

References

1. Microfinance India - State of the sector report 2011

2. Microfinance Impact Assessment and Market Research Survey-UNRWA –

Microfinance Department – Syria

3. M-CRIL Microfinance Review 2012: MFIs in a Regulated Environment

4. Microfinance Market Survey in the West Bank and the Gaza Strip conducted by

Planet Finance

5. Microfinance And Poverty Alleviation: An Impact Assessment Survey By RBS

Foundation India

6. VAMA Annual Report 2012

7. CRISIL Microfinance Grading Report-VAMA, August 2009

8. CRISIL Microfinance Grading Report-VAMA, August 2009

9. SMERA MFI rating report-VAMA, September 2010

10. Learning from Clients: Assessment Tools for Microfinance Practitioners, The SEEP

Network

24

Appendix-D

Tools for data collection

Tool File

Microfinance Impact Assessment Survey

Vama Survey_1.pdf

Social Security Survey

Social Security Questionnaire.pdf

Asha Questionnaire

Audio of the interview with Ms. Badami

Survey data

VAMA Input FINAL.xlsx

25

Appendix-E

Contact details of people and organizations interacted with during DOCC project work

Sr. No. Name Designation & Organization

1 Indra Bhushan Verma CEO, VAMA

2 Nilofer Khan COO, VAMA

3 Sarvesh Dhingra Finance Manager, VAMA

4 Deepak Malhotra Branch Manager, VAMA

5 Shanno Khan ABM, VAMA

6 Madan Kushwaha ABM, VAMA

7 Dr. I. V. Ramanuja Rao Programme Director, INBAR

8 Bharat Parekh Senior Programme Officer, INBAR

9 Narayan Singh Rana Branch Coordinator, Bank of India

26

VAMA (Bal-MahilaVikasSamiti) 9-C, MaharanaPratap Nagar,

Near Jiwaji Club,

Gwalior- 474009 Madhya Pradesh,

INDIA Telephone: +91-751 2457438

Email: bmvs1988@yahoo.co.in

vama1988@rediffmail.com

Website: www.vama.org.in