Daijiworld Media Network – Mangalore (SS)

Mangalore, Sep 12: A UGC sponsored national seminar on “Effective partnership between commercial banks & micro finance institutes” with association with Corporation Bank Ltd was organized by Besant First Grade Evening College, on Thursday September 12 at the college auditorium.

The principal Dr Carmelita Goveas, escorted the delegates to the dais. The seminar began with a devotional song led by Isaac and his team.

Dr Carmelita Goveas in her welcome speech said “such a seminar has a feeling of euphoria as it is a success."

“Effective partnership between commercial banks & micro finance institutes, is an essential topic as; firstly as it would create awareness about the number of people all around the world are still under poverty line and knowledge about MFI would lead to eliminate poverty, secondly it would enlighten that MFI should be a structured organization and give significance to the poor society as well and lastly every civilization has to deal with MFI thus having adequate knowledge about it is important,” she added.

V S Karthikeyan, general manager at Corporation Bank Ltd with the other dignitaries present on the dais inaugurated the seminar by lighting the lamp.

Ishwar Poojary, convener of the seminar, professor and HOD of commerce department said, “most of the NGO’s and MFI’s have encountered problems with sustainability. The task is to deliver a structure to the government and the banks for which MFI can act as an advantage to diversify capital.”

He also said, "it would be easy to evaluate poverty, the absence of retail banking in rural areas can be rectified and development of new business models can be initiated which would help to give services at a lower cost. Bank could provide loan and instigate funding, where MFI can undertake monitoring the loans and correction of funds.”

He clarified that the objective to organize a seminar is to build a common platform for the banks, micro financial institutes, researchers, media, lectures, teacher and the students. Sessions were held with panel members and discussion were held on different research topics.

V S Karthikeyan, general manager at Corporation Bank, addressing the students said, “The status of the country is held by the students as they are the future of India. Around 30% to 40% of the population in India has no access to banking services and the ongoing development is insufficient as per the dreams of the pre-independence leaders.”

He illustrated by using an Abdul Kamal’s quote that says India is to become developed by 2020, because of the youth.

“Although India in comparison to the European countries has an advantage for a large number of youth population is present in India and in the next 25 years they will be in command. But the youth must have commitment, knowledge, vision and they must involve themselves in such subjects” he added.

V S Karthikeyan said, “Micro finance helps the financial institutes and micro credit instigates small business ventures, a lot of uncultivated land exist which can be used for us to be self sufficient. The rural areas mainly in the northern and western India still have to be introduced to banking and financial support at a large extent.”

He concluded by saying that, “Though the world economy has been going through recession but India has enormous resources and outsized youth approach.”

A Krishna Reddy from Sa-Dhan (An apex body of micro finance sector) at Hyderabad delivered the keynote address. He said, “The topic of the seminar is crucial and has been discussed widely for the past few years. India is a country that has the tenth fastest growing economy still one-third of the population remains poor. People should have access to banking and the bottom of the system must grow.”

“The financial crisis emerged because financial institutes were more focused on their personal interests rather than the interests of the customers. Banks are the principle financial institute, they would make financial structure formal”, he added.

In his presidential address Kudupi Jagadish Shenoy, president of WNES said, “We are able to reach a variety of people through this seminar, which helps in creating goodwill between each other.

The vote of thanks was delivered by professor Ganapathi Bhat, HOD English department, the guest of honor was Nagar Narayan Shenoy, correspondent at Besant College and K J Shenony president of Womens education association was present on the occasion.