The Micro Finance offering of Financial Services Vertical started at the fag end of year 2007 at Sitapur. The pilot phase of the project ran for 6-8 months before the actual ramp up began. With the disbursals of the month of July (year 2009), the cummulative disbursal figures breached the Rs 1 crore mark with close to 1300 active borrowers.This is a landmark for the Micro finance team. However, the rate of growth of the portfolio has to be much faster than the current rate. The field staff have to gear up across the locations, to source more business. Case in point, is most of the kiosks are sourcing about 3 cases in a month, this will have to be increased manifold (to 10-15) if we are to improve our rate of growth.
With the growth of the portfolio, the quality of the portfolio will have to be maintained. Over the past couple of months, delinquency is being noted in some locations/kiosks. The team should act on all such cases proactively and under no circumsatnce can delinquency be allowed to set in.
As a direct measure to equip the team to address the issues at hand, a training program is being arranged at Noida. The training will be imparted in two parts i. classroom training ii. On the job training (field visit). The training session will be essentially a 'train the trainer' program, wherein people trained, will subsequently train the people at their respective locations.
The BC-BF offering of Financial services vertical is run in partnership with banks like SBI & HDFC across different locations. However, the performance across the domains is continually dipping because of a variety of reasons. Over the last couple of months, Drishtee representatives have met SBI representatives and have tried to sort out some of the issues at hand. However, subsequent to the meetings, it has been mutually agreed that Drishtee's BC BF performance has to improve and post favourable results. As a direct fall out, monthly sales targets have been assigned to the various kiosks.The same has been or is being communicated to the field staff across the various locations.
The field staff have been taken through a training on the BC program and have been advised to run the staff of the respective locations through that training. The targets have been assigned to the various regions along with the expansion plans. It is imperative on our part to communicate the targets to all the relevant stake holders along with a plan/mode of meeting the targets.
We wish the financial services team all the best and expect to see a rigour around service delivery and attainment of assigned targets.
Sanmoy Das
Chief, Rural Finance Services, Drishtee
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