...Compare and Contrast Paper: Multiple Meanings of Money Instructor: Eric Hinderliter ECO 442—Development Economics LCC International University Yanina Belaya October 24, 2013 The book ‘Multiple meanings of money’ written by Smita Premchander, V. Prameela, M. Chidambaranathan and L.Jeyaseelan analyses what microfinance money means to women, in particular it examines the viewpoints of individual women and women-only groups from India. These groups, called SHG (self-helped groups) represent the community of 15-20 women involved into savings and credit activities. Usually these groups are formed on voluntarily basis, but with encouragement of an external agency (NGO, MFI, government). The case study about the Grameen Bank of Bangladesh, presented in the economic development textbook, written by M.P. Todaro and S. C. Smith, is a good practical illustration of how credits can be provided to the groups of poor women. Considering that both sources emphasize microfinance programs delivered through women-only groups, it is interesting to analyze this emerging trend of the microfinance market. While both sources, book and textbook, bear some superficial similarities about the characteristics of SHG’s, benefits that involvement in SHG’s provides for women, and the reasons why ‘external’ agencies choose to target SHG’s, differences through investigation of these two sources are also noticed. The book ‘Multiple meanings of money’ and case study on Grameen Bank represent the self-helped...
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...Microfinance From Wikipedia, the free encyclopedia Jump to: navigation, search This article may be too technical for most readers to understand. Please help improve this article to make it understandable to non-experts, without removing the technical details. The talk page may contain suggestions. (January 2010) Community-based savings bank in Cambodia. There are a rich variety of financial institutions which serve the poor. Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services. More broadly, it is a movement whose object is "a world in which as many poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services, including not just credit but also savings, insurance, and fund transfers."[1] Those who promote microfinance generally believe that such access will help poor people out of poverty. Microfinance is a broad category of services, which includes microcredit. Microcredit is provision of credit services to poor clients. Although microcredit is one of the aspects of microfinance, conflation of the two terms is endemic in public discourse. Critics often attack microcredit while referring to it indiscriminately as either 'microcredit' or 'microfinance'. Due to the broad range of microfinance services, it is difficult to assess impact, and very few...
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...org/wiki/Microfinance Microfinance [hide]This article has multiple issues. Please help improve it or discuss these issues on the talk page. This article may be too technical for most readers to understand. (January 2010) Microfinance is a source of financial services for entrepreneurs and small businesses lacking access to banking and related services. The two main mechanisms for the delivery of financial services to such clients are: (1) relationship-based banking for individual entrepreneurs and small businesses; and (2) group-based models, where several entrepreneurs come together to apply for loans and other services as a group. In some regions, for example Southern Africa , microfinance is used to describe the supply of financial services to low-income employees, which is closer to the retail finance model prevalent in mainstream banking. Community-based savings bank in Cambodia. There are a rich variety of financial institutions which serve micro-entrepreneurs and small businesses. For some, microfinance is a movement whose object is "a world in which as many poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services, including not just credit but also savings, insurance, and fund transfers."[1] Many of those who promote microfinance generally believe that such access will help poor people out of poverty, including participants in the Microcredit Summit Campaign. For others, microfinance is a way...
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...Could Microfinance Be the End of Poverty? Lending money to a small business or individual that may or may not be able to repay the debt can be complex and lead to banks having to make difficult decisions. Lenders are known for acting with caution and avoiding a risky investment, yet millions of people worldwide are gaining access to capital. These small corporations or family owned start-ups are using microfinance institutions to supply them with the necessary loans they need for various business or personal expenses. The ability of these applicants, who otherwise would have never been approved, to gain the funding through microcredit loans has had a remarkable impact globally. Heads are turned, and many ask the question “Could microfinance be the solution to help end poverty?” Historically, many businesses have faced difficulty with applying for a loan. Bankers are renowned for requiring a huge amount of paperwork and proof of income, insurance, etc. This can be a time consuming and stressful process. Some investors expect that the company asking for the loan will be unable to provide the documents that are required and therefore will be denied. While lenders are able to adjust such details as interest rates and length terms for their own benefit, they are hesitant to take an applicant that will put the repayment at risk. The economic shifts have had an impact on the lives of people worldwide. Small companies are unable to support the cost of staying open and many eventually...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/2045-4457.htm SAJGBR 2,1 Profiting from poverty: ethics of microfinance in BOP Linda M. Sama and R. Mitch Casselman Department of Management, Peter J. Tobin College of Business, St. John’s University, New York, New York, USA Abstract Purpose – This paper seeks to examine the ethical dilemmas that emerge when offering microfinance services in BOP markets. Design/methodology/approach – Utilizing the ethical lenses of deontology, teleology, virtue ethics and moral relativism, the paper builds on prior research on ethical issues in BOP markets and the ethics of microfinance to highlight the specific stakeholder impacts facing MFIs. Relevant literature and examples from practice are utilized to illustrate the different ethical perspectives. Findings – In general, many of the key dilemmas represent themselves in the extreme poverty segment of the BOP where commercial business models have the least traction. Research limitations/implications – Propositions are developed for the corrective actions in the paper which might allow future research to uncover differences in intervention success in different BOP markets. Practical implications – The discussion of potential interventions for the various stakeholders may ameliorate criticisms of MFIs, suggest opportunities for cross-sectoral partnerships and improve outreach to the poorest of the poor. Social implications – For each issue...
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...and shubashish Barua, researcher, InM to meet the requirement of the internship program of BBA. 1.2 Objective of the Report Broad Objective: Broad objective of this report is to meet the partial requirements for the fulfillment of BBA program. Specific Objectives: Internship program aims at providing knowledge about the real world business situation. The objectives of the report are- ➢ To be informed with the top three MFIs of Bangladesh focusing on poverty alleviation. ➢ To get an overview of services rendered by different MFIs. ➢ To identify the critical success factors (CSF) of Microfinance institutions. ➢ To compare the relative performance analysis of top three MFI: Grameen Bank (GB), BRAC and ASA ➢ To identify the problems faced by the MFIs. ➢ To suggest what components should be incorporated with the Microfinance program that will reduce the risk of being vulnerable to poor. 1.3 Limitation of the Study In preparing the report, the main limitations that I faced were- • Regulation from the firm on information as the firm is a private research and confidentiality of information has to be strictly maintained. •...
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...Term paper On Microcredit ECO -242 Principles of Macroeconomics Prepared for Janifar Alam Lecturer School of business Prepared By Group 1 Sec: B Semester: Summer-2013 31th July 2013 To Janifar Alam Lecturer School of business University of Information Technology and Science (UITS) Subject: Submitted the Term paper of ECO-242 Dear Madam It is indeed a great pleasure for us to be able to hand over the result of our hardship of the group Term paper on Microcredit.This report is the result of the knowledge. This has been acquired from the respective course. We tried our level best for preparing this report. The information of this report is mainly based on our knowledge and Internet information. We fervently hope that you will find this plan worth reading. Please feel free for any query or clarification that you would like us explain. Hope you will appreciate our hard work and excuse the minor errors. Thanking you for your cooperation. Sincerely Group 1 Name&ID Signetures Rahat a jan 12310577 Jinia Afrin 12410291 Abdia Sultana 12310290 Jahidul Islam 12310377 Obaidur Rahman 123210572 Acknowledgement First of all we want to give thanks to almighty Allah for giving us the opportunity to complete...
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...Academic Journals - Browse The Library | Are you looking for? Research Papers Examples Types Of Research With Examples Research Papers On Biometrics Research Paper On Cloud Computing Research Methodology ExamplePdf Springer Research Paper Research Paper On Microfinance Research Paper Of Cloud Computing Getty Research Institute acquires LACMA curator's papers Maurice Tuchman, the first full-time curator of modern art at the Los Angeles County Museum of Art, has donated his papers to the Getty Research Institute, the GRI is expected to announce Thursday. Here’s what happens when you try to replicate climate contrarian papers | Dana Nuccitelli A new paper finds common errors among the 3% of climate papers that reject the global warming consensusThose who reject the 97% expert consensus on human-caused global warming often invoke Galileo as an example of when the scientific minority... The latest science scam: Peer-reviewing your own paper A few professional scientists have found a sneaky way to cheat their way up the career ladder: They evaluate their own research by pretending to be someone else. Scientists publish their research findings through academic journals, which check... The latest science scam: Peer-reviewing your own paper A few professional scientists have found a sneaky way to cheat their way up the career ladder. They evaluate their own research by pretending to be someone else. Scientists publish their research findings through academic journals, which...
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...Freedom (2009), and the recipient of 26 honorary doctorate degrees and more than sixty other special awards. There is little to no doubt that the man is accomplished, hailed as the father of microcredit and a pioneer of microfinance. However, his success lies in something seemingly marginal and that much more brilliant, which distinguishes him as an intellectual and a thinker worthy of a place on the thinkers.com top 50 list. The idea of microcredit was first brought to light by Dr. Akhtar Hameed Khan (founder of the Pakistan (now Bangladesh) Academy for Rural Development). Yunus, a follower of Dr. Khan’s work, sought to implement the concept as a unique social business model aiming to eradicate poverty, starting with Bangladesh. With banks refusing to provide loans to ‘high-risk’ markets, Yunus felt that the poor were left at a disadvantage, unable to escape the grip of poverty. “To Muhammad Yunus, micro-credit must be seen as an action for the promotion of the entrepreneurial capacity of disadvantaged families, elimination of informal markets, creation of income and well-being for citizens.” (Microfinance Africa) As such, he set out to establish the Grameen Bank. The Grameen Bank seeks to improve the lives of the poor by providing access to microfinance and technology. The foundation...
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...past!year.!!Media!exposure!such!as!an!appearance! on!the!Oprah!Winfrey!Show!and!a!mention!in!Bill!Clinton’s!book,!Giving,!resulted!in!an! enormous!number!of!lenders!coming!to!the!Kiva!website!in!hopes!of!lending!money!to! entrepreneurs!in!the!developing!world.!!! ! In!2005,!Kiva!introduced!microfinance!to!the!internet,!and!since!then,!has!created!a! global!community!of!people!connected!through!lending.!!By!partnering!with! microfinance!institutions!in!over!30!countries,!Kiva!has!given!small!businesses!in! developing!countries!the!opportunity!to!grow!and!thrive.!!The!company’s!microfinance! partners!post!profiles!of!loan!applicants!on!the!website,!where!anyone!with!a!credit! card!and!an!internet!connection!in!United!States,!Canada,!Europe!and!beyond,!can! provide!small!loans!to!the!businesses!of!their!choice!(See!Exhibit!1!for!a!sample!profile).! ! As!of!that!November!morning,!Kiva!lenders!have!funded!over!$14.5!million!to!over! 22,000!entrepreneurs!through!65!microfinance!partners!in!37!countries.!!The!team!was! meeting!to!discuss!the!upcoming!board!meeting!and!the!strategy!for!Kiva!in!the!coming! year.!!Though!the!meeting!was!filled!with!satisfaction!and!pride!in!what!the!team!had! accomplished!since!their!inception,!major!decision!needed!to!be!made!and!debates!...
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...Frontiers in leadership research Spring 2010 Final paper Sofia Nilsson Altafi TRANSFORMATIONAL LEADERSHIP IN THE INDIAN MICROFINANCE ORGANIZATION Introduction During the last two decades, microfinance has received considerable public and institutional attention – accumulating in the Nobel Peace Prize in 2006 – and is today presented as the “magic bullet” for fighting global poverty. A country with a particularly interesting microfinance sector is India; in 2008, the total outstanding microfinance loans amounted to USD 8 billion, and more than 50% of all low-income households are covered by some form of microfinance product (Srinivasan, 2009). Yet, while Indian MFOs are assumed to help bring the country’s poor out of poverty, and thereby contribute to reaching the Millennium Development Goals, private capital is pouring into the sector and supporters have started to ask for financial returns on their funds. MFOs are hence expected to balance between having a social mission on the one hand, and running a profitable operation on the other. A first natural question is to ask whether the corporatized MFO manages to stay on track and deliver both on the social and on the financial side, if it is “mission drifting” or not. “Mission drift” is related to the performance of the MFO, mainly measured in how well the organization succeeds in reaching poor borrowers who lack access to formal financial institutions (Copestake, 2007). With an increased pressure from...
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... 7. Clients of microcredit 12 8. Microcredit in economic development 13 9. Impact of microcredit on poor people 15 10. Economic condition of Bangladesh 17 11. Microcredit in Bangladesh 19 12. Challenges of microcredit 22 13. Conclusion 23 14. Reference 24 15. Appendices 25 The most important finding in the last two decades in the world of finance did not come from the world of the rich or the relatively well-off. More important than the hedge fund or the liquid-yield option note was the finding that the poor can save, can borrow (can indeed decide on loans to fellow poor), and will certainly repay loans. This is the world of microfinance. The interest in microcredit or microfinance has burgeoned during the last two decades: multilateral lending agencies, bilateral donor agencies, developing and developed country governments, and non-government organizations (NGOs) all support the development of microcredit. A variety of private banking institutions has also joined this group in recent years. As a result, microcredit services have grown rapidly during the last decade, although from an initial low level, and have come to the forefront of development discussions concerning poverty reduction. World over, microcredit has proved to be an important tool to reach the poorest people. It is the social mandate and the holistic development...
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...Success of Microfinance in Bangladesh: Its Determinants, Impacts & Challenges Chapter- One Introduction 1.1 Introduction: In recent years, microcredit, in its wider dimension known as microfinance, has become a much favored intervention for poverty alleviation in the developing countries and least development countries. There is scarcely a poor country and development oriented donor agency (multilateral, bilateral and private) not involved in the promotion (in one form or other) of a microfinance program. Microfinance programs claim many achievements as its impact and an outside observer cannot but wonder at the range of diversity of the benefits claimed. Although Bangladesh has huge potential for development, it is, for various socio-economic reasons, among the poorest countries in the world. About half of the country's population lives below the poverty line with 80% in the rural areas. The burden of poverty falls disproportionately on women, who constitute half of the total population. Logically, therefore, poverty alleviation and creation of rural employment are top priorities in the development agenda of the government of Bangladesh (GOB) which has adopted a broad based approach to poverty alleviation, emphasizing macroeconomic stability, economic liberalization, and support for a number of government agencies and non-government organizations (NGOs). Substantial progress has been made in implementing the microcredit program (MCP), and the scope for its efficient...
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...A Report on the Prospects and limitation of microfinance institutions in Indian farming sector Submitted to: Mr. Anup Singh (C.E.O.) Sonata Finance Private Limited 1/1 A, Rai Bahadur Ram, Charan Das Road Balrampur house, Allahabad (UP) -211002 Submitted by: Vinay Kumar Mishra MBA-Rural Development 3rd semester Govind Ballabh Pant Social Science Institute, Allahabad (A constituent Institute of University of Allahabad) Contents1 Topic name Page no. Acknowledgement 3 Executive Summary 4 Introduction 5-6 Literature Review 7-12 Objective of the study 13 About the organization 14-19 Research methodology 20 Questioner used for survey 21-25 Findings 26-31 Case studies 32-33 Conclusion 34-35 Suggestions 36-37 Summary 38 Acknowledgement 2 This evaluation study is a humble effort to understand the concept of Joint liability Group in Micro Finance Institution. The study would not have been completes without the priceless support of those involved in the study. It was essentially programme to find Prospective and limitation of microfinance institution in Indian farming sector. First, I would like to express my deepest gratitude to Mr.Anup Singh of Sonata Finance Private Limited (Allahabad) for their continual involvement in our work. I extend my highest indebtedness to Mr. Ashish Kumar Area manager. I am also thankful to other staff member of Sonata Finance Private Limited for support whenever we needed it. I...
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...Contenido ------------------------------------------------- 1. – Datos de la industria financiera en México 1 2.- Sector bancario 2 3.- Sector seguros y fianzas 4 4.- Casas de bolsa 5 5.- PEGs y VCs 6 6.- Noticias de M&A en la industria 7 7.- Asociaciones en la industria 13 ------------------------------------------------- Industria Financiera El sector financiero está compuesto por diferentes empresas, entre las que destacan bancos, bancos de desarrollo, casas de bolsa, el mercado de valores, compañías de seguros y fianzas, uniones de crédito, SOFOLes, SOFOMes, sociedades de inversión, banca de inversión, grupos de capital privado, venture capital, pensiones y otros servicios complementarios. La parte bancaria del sector se desenvuelve mejor en un ambiente macroeconómico de bajas tasas de interés, inflación controlada y crecimiento sostenido ya que los bancos ganan de poder obtener recursos con bajo costo y prestarlos con ganancia. Una economía fuerte es una economía que requiere créditos para la inversión y el consumo, lo que beneficia al sector bancario. Datos de la industria en México * El sector financiero representa 4.8% del PIB mexicano al cuarto trimestre del 2011, de acuerdo al INEGI. * Se cuenta con sólo una bolsa de valores, la cual contaba con una capitalización de 729B de USD al término de 2010. Es la segunda más grande de Latinoamérica después de Brasil. * De acuerdo a BBVA Research el crédito bancario es la segunda fuente...
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