BISWA: Fostering Inclusive Growth through Microfinance (Abridged)

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It was another hot and humid day at Sambalpur, a town in the eastern Indian state of Odisha.¹ It was the end of June 2010. Khirod Chandra Malick (Malick), Chairman, Bharat Integrated Social Welfare Agency (BISWA), had called a meeting of the senior management team of the organization's microfinance program.

Till mid-2010, BISWA's microfinance program had directly touched the lives of 4,015,240 people. Malick's aim was to ramp up BISWA's presence to cover nearly all the states of India by the end of 2012. However, he knew that achieving that would not be easy as Microfinance Institutions (MFIs), particularly mid-sized and MFIs such as BISWA, had to face several challenges, and this despite the fact that the microfinance sector in India was showing positive trends. The theme for the brainstorming session was:

"How do we strike the right balance between our mission of social development and financial sustainability as a social organization and as a MFI?"

Microfinance in India - Next Page>>

1] Odisha (earlier known as Orissa) was one of the poorest states in India with 43% people of the state living below the poverty line with a per capita of less than US$1 per day.

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