Micorfinance –A Social Business

Working towards the organizational mission of making women financially self-reliant, Microfinance wing of MCM offers a range of financial services which can be easily accessed by rural and urban poor. These services not only include credit and micro insurance but also provides a saving platform through which members can save with formal and mainstream Banking Institutions.

MCM’s thrust on technology has provided momentum in carrying out this Social Business in a professional, scalable and sustainable manner following Best Practices and Principles prevalent in the industry and market. Availability of information on timely, accurate, consistent, complete and relevant form helps to take necessary decisions which are vital for policy decisions and business growth. Despite low funding from the bankers in the financial year 2011-12, due to external factors in the MFI sector in general, Micro Finance (MF) operations maintained velocity on account of motivated staff, good MIS and efficient fund management.

MCM is currently working for MF in eight districts of Madhya Pradesh namely Chhatarpur, Tikamgarh, Sagar, Hoshangabad, Raisen, Bhopal, Betul and Sehore providing its services to more than 15000 rural and urban poor families through women members. MCM uses the group lending model (SHG/JLG) where poor women guarantee each other’s loans. Borrowers undergo financial literacy training before they are allowed to take loans.

Monthly meetings with borrowers follow a highly disciplined approach which instills credit discipline in the clients.

MCM works with a mix of esteemed public and private sector financial institutions and banks like RMK, SIDBI, NABARD,HDFC, ICICI and SBI for raising funds for on-lending to its clients.

Success Story

Sandhya Dubey  - I am associated with MCM as a member since 2009 , when it started its urban operation.

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Chanda Soni  - Becoming member of MCM was one of the best decision of my life.

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