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Despite being the largest state in the
country, Rajasthan lags behind other states
on many development indicators. The difficult
geographic and climatic conditions - 60
per cent of the state’s area covered
by desert on the western side and hilly
terrain on the southern side – coupled
with weak infrastructure facilities and
its tendency towards drought, make development
a slow process.
The Rajasthan microfinance initiative was
launched by the Trust in March 2003 to demonstrate
the working of self-sustaining community
based microfinance programmes. The initiative
focuses on using microfinance to strengthen
livelihoods, and reduce the vulnerabilities
of the marginalised peoples in this region.
Centre for microFinance
(CmF), Jaipur
As the initiative progressed, the need was
felt for an institution that could help
increase the access and the outreach of
financial services, help improve quality
and penetration of these services, and strengthen
linkages with livelihood promotion.
A feasibility study for such an entity,
was undertaken by eminent economist and
academician, Dr VS Vyas, during January
– March 2005. The findings of this
study were presented at the Sir Ratan Tata
Trust colloquium in microfinance in Rajasthan
in April 2005.
With encouraging response from the state
government and other eminent persons in
the state, the idea for the Centre
for microFinance (CmF)
germinated.
CmF was subsequently set up in Jaipur,
to deepen and upscale the microfinance movement
in Rajasthan. It is an autonomous institution,
employing highly qualified professionals
to provide a wide range of technical and
other support services to microfinance players.
Given its mandate, the centre places value
on networking, and collaborations with stakeholders,
undertaking direct action only in gaps where
players neither exist nor can bring about
a change in affairs.
CmF is the nodal agency for all the Trust’s
projects under Sakh Se Vikas, particularly
the field implementation projects. Amongst
its chief functions, CmF:
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Acts
as a knowledge hub, providing information
on microfinance in Rajasthan |
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Actively encourages
microfinance practitioners to deepen
the sector by identifying effective
current practices, and piloting innovative
initiatives that enhance effectiveness
of microfinance delivery systems |
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Works
jointly with significant promoters of
savings and credit groups, including
government departments, to improve quality
of interventions |
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Networks
and collaborates with the government
and other stakeholders to develop strategies
for increasing access to microfinance
for poor |
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