Staff Reporter –
The Association of Microfinance Institutions – West Bengal (AMFI-WB) will be organizing the 8th Edition of Eastern India Microfinance Summit 2024 in Association with M2i, Equifax, MFIN & Sa-Dhan. This year the theme of the Summit “Empowering the poor: Microfinance as a Catalyst for Sustainable Development”. The 8th Eastern India Microfinance Summit 2024 will be held on 22nd February 2024 from 9AM onwards at Biswa Bangla Convention Centre, HIDCO, New Town, Kolkata.
A Team consisting of Dr. Alok Misra, CEO & Director, MFIN; Mr. Kuldip Maity, MD & CEO, VFS Capital Ltd and Secretary, AMFI-WB; Mr. Manoj Nambiar, MD, Arohan Financial Services Ltd.; Mr. Kartick Biswas, MD, Uttrayan Financial Services Pvt. Ltd. along with other representatives of AMFI-WB were present to brief the media about the Summit at the Press Conference at Kolkata Press Club.
This year the Summit is expecting over 400 Leaders and senior officials from MFIs (NGOs as well NBFCs, SFBs, BCs and Bank) which are operating in West Bengal, Odisha, Jharkhand, Bihar and North Eastern States. The Summit is expecting over 60 MFIs from Eastern India. It aims to bring together the national and global community of stakeholders, particularly lenders and Investors, to discuss current and future aspects of financial inclusion, and how Microfinance plays an important role as a Catalyst for a Sustainable Development of the society.
The Summit will witness Delegates from Bangladesh and Nepal; Banks, Regulators, Ratings Agencies; Fintech, IT, Software Companies; Insurance Companies; Researchers, Scholars and Students; Energy Companies especially green energy providers and social enterprises; Mobile Banking/Core Banking Solution Providers; Industry association/network; Donor agencies/multilateral Institutions and International Agencies; Consultancy firm, among others stakeholders.
Microfinance is widely recognized as a powerful tool, contributing to and propelling towards achieving sustainable development goals. Its multifaceted roles encompass some of the key aspects instrumental in fostering sustainable development. Through financial inclusion, microfinance democratizes access to capital, empowering marginalized communities and amplifying economic participation. It contributes to poverty alleviation, offering avenues for entrepreneurship and job creation.
Microfinance also champions gender equality by providing women with access to financial services. As a catalyst for change, microfinance intertwines financial empowerment with social empowerment, paving the way towards a more inclusive and sustainable future. This year’s session is expected to be attended by the MFIs practitioners, regulators and funders to discuss most pertinent issues facing the sector.
The Association of Micro Finance Institutions – West Bengal (AMFI – WB) is an institution which endeavors to promote and develop microfinance in the state of West Bengal. Founded as a self-regulatory organization, and registered as a Public Charitable Trust in 2010, AMFI-WB encompasses a community of microfinance organizations that operate in West Bengal. It was formed to deliver better services to the poor, thereby helping these populations improve their standards of living. AMFI-WB envisions a community of microfinance institutions who are committed to initiating a significant change in the lives of the poor, especially women. AMFI – WB currently caters to around 79 lakh poor women by providing them with financial services, especially micro credit. With a membership of 48 Micro Finance Institutions, bank, Fintech, IT, Insurance, Health Service Providers, and Software companies etc., approximately 33000 employees who hail from lower economic background. AMFI-WB primary goals include: encouraging MFIs to maintain healthy relationships with banks, ensuring that MFIs stay on track and focused with the guideline prescribed to them, and mediating between various government officials and other important sector stakeholders. AMFI – WB regularly conducts stakeholder meets at the district level, management development programs for its members, microfinance industry-related seminars & workshops, and member meetings on matters of mutual interest.