下一代微金融：数字技术的作用

Foreword from PwC The microfinance sector has seen considerable growth and transformation in aspects such as consumer, technology andregulations over the last decade. Acting as an enabler in promoting the financial inclusion agenda, the microfinance industry –with a vision to foster economic and social development in the country – has played a key role in providing financial servicesto the underbanked and unbanked low-income groups and micro-credit to small and medium-sized businesses (SMBs). The Recent developments in the sector – technological interventions, demonetisation and the COVID-19 pandemic – havecatalysed both growth and expansion led by digital adoption. The Jan-Dhan, Aadhaar, mobile (JAM) trinity, businesscorrespondent (BC) act and enablement of Indian digital rails have contributed to the growth of MFIs in terms of widening thereach and accessibility of microfinance services to underserved customers. Moreover, developments in the regulatory space Further, business innovations such as the co-creation of products, partnerships and ecosystem collaborations among banks,microlenders and FinTechs have strengthened the overall value proposition of the industry. Thus, MFIs could cater to theircustomers by offering tailored solutions using technologies such as big data analytics, artificial intelligence (AI)/machine If we look at the current scenario, the evolving microfinance landscape not only requires a framework to navigate throughvarious challenges across the value chain – such as financial and digital literacy, data regulation and fraud – but also the talentand workforce development. Therefore, the concerted efforts of stakeholders in the microfinance ecosystem should not only be Through this report, we present to you the current MFI landscape in India – particularly in West Bengal and the northeast region– challenges across the value chain and corresponding opportunities which can be leveraged with the help of technology.Additionally, the report highlights and analyses the strategic roadmap for the microfinance industry to build products and Vivek BelgaviPartner and India FinTech Alliancesand Ecosystem Leader Joydeep K Roy Partner, India Financial Services Advisory Leaderand Global Health Insurance Practice Leader Foreword from the Association of Microfinance The last two years were quite eventful for eastern India and the microfinance industry. Due to the COVID-19 pandemic, thecountry went into a complete lockdown in March 2020. However, the situation improved after June 2021, both in terms ofdecreasing COVID-19 cases and the formation of majority and stable governments in West Bengal and Assam. With mostof the lockdown guidelines being removed or relaxed across India, the local economy started to see a growth trend. Themicrofinance business and portfolio in eastern India saw an increase of 4% from INR 94,820 crore on 31 December 2020 toINR 98,587 crore on 31 December 2021, with 3.8 crore loan accounts as per self-regulatory organisations (SROs) and the In West Bengal, the AMFI-WB continues to focus on the proliferation of financial services (particularly micro-credit) tounderserved segments. AMFI-WB has catered to over 9.6 million poor women by addressing their credit needs.5AMFI-WB hasa membership of 48 MFIs, banks, FinTechs, IT, insurance, health service providers and software companies. In FY 2021–22, the As this space continues to evolve with FinTech disruptions, technology innovation and regulatory advancements, it is beneficialfor industry stakeholders to come together to share and exchange ideas and best practices. Hence, the AMFI-WB, along withits member MFIs, banks and PwC, is hosting the ‘7th Eastern India Microfinance Summit 2023’. The purpose of the summit is Anjan DasguptaSecretary – AMFI-WB Chandra Shekhar GhoshFormer Secretary – AMFI-WB Chairperson – AMFI-WB Table of contents 01Introduction 02Analysing the financial inclusion landscape 03 Opportunities and challenges for MFIs across the value chain 04 An overview of regulatory stakeholders and their role 05 Way forward: Drivers for growth 01 Introduction The concept of microfinance, since its inception in the 1970s from the Grameen Bank model, has emerged as one of the keyaspects in nurturing financial inclusion. Microfinance empowers low-income households to tackle deprivation by providingfinancial services and micro-credit that aids in income generation, improve livelihood and enable community integration. Themicrofinance industry typically caters to segments of rural and marginalised groups – especially women – and small and micro The microfinance models in India have traditionally followed a feet-on-street approach to undertake various operations such ascustomer onboarding (know your customer [KYC]), loan disbursal and repayment collection. Following this approach, the Indian Banking correspondents (BCs) engage with the unbanked and underserved segment at the last mile, typically in terms of fac