November 2011

Monthly Newsletter

We are pleased to approach you with the monthly newsletter of November 2011. GFSPL has teamed up with Habitat for Humanity to create awareness and promote low cost yet high strength mud blocks for construction in Thigalarahosahalli village in Kanakapura for our clients. Another initiative is a health check-up camp that was organized at Parbhani to provide free consultation for GFSPL clients. In this one- day event, 110 people received free health check-up in Wangi Road area of Parbhani. We are constantly looking for learning opportunities to upgrade our staff and services. Therefore, GFSPL has designed a program called ‘Connect’ for senior and experienced professionals in the industry to educate the Head Office team on the most interesting topics. In a latest series of this event, Mr. Brij Mohan, Chairman of ACCESS Development Services, shared on the various aspects of MFI & how the MFI industry is shaping up. This was a very informative session as he answered queries raised by GFSPL employees and advised us on the areas we need to improve on collectively. GFSPL Lender Meet was crucial to share information with our lenders. Mr. Suresh K. Krishna, Managing Director, informed the lenders that the Board has approved an equity infusion of INR 35 crore and passed a resolution to transfer 5% of the PAT to a related party NGO which works in parallel with GFSPL. Lastly, we are proud of AKMI’s Financial Literacy Program and Customer Grievances Redressal Cell inauguration. This tie in with the values of client protection that GFSPL upholds. We hope you will enjoy reading the newsletter.  
Stories from the field

Radhamma (47) and her husband Narayanappa (53) live in Kolihalli village, 10 kms away from Tumkur. When GFSPL opened a Kendra in the village in 2005, Radhamma became a member and progressed gradually with GK loans. “GK has been a great source of help for us. We were able to grow faster with GK loans,” Radhamma said.

Radhamma's first loan was Rs 7000/- with which she started a mobile bangle store. She still runs this mobile store, and sells bangles whenever there is a marriage function or festival in the village and surroundings. 

GFSPL Updates

Connecting the dots – II Leadership Program was organized by Better Future-India from 30th October to 5th November 2011 in Vistaar –Bangalore. The program was started with an inaugural speech from Mr. Udaya Kumar, the CEO of GFSPL. Six European Business leaders from different Multinationals and Government Organizations, and eight team members from GFSPL participated in the Program. The team worked on Personal Leadership, Cross Cultural Learning and Real Life Projects like Customer Engagement, Product Diversification and Mobile Academy.  

GFSPL Updates

The Grameen Financial Services Pvt. Ltd. (GFSPL) Lenders Meet was held on 9th November 2011 in Bangalore. The meeting was attended by lenders and employees of GFSPL.

Ramachandra Vaidya, COO-GFSPL, made a presentation on GFSPL’s current operational outreach, products and services. Mr. B.R. Diwakar, CFO-GFSPL, highlighted the half yearly financial performance of GFSPL and outlined the strategy for the financial year on disbursement providing details of fund availability, undrawn funds and net requirement. 

GFSPL Updates

Association of Karnataka Microfinance Institutions (AKMI) inaugurated its Financial Literacy Program and Customer Grievances Redressal Cell in Bangalore on 12 November 2011. The inaugural ceremony was attended by dignitaries, MFI customers, staff members and media representatives. 

GFSPL Updates

Vinatha M Reddy, Chairman and Suresh K Krishna, MD have attended the 5th Global Microcredit Summit. The Global Microcredit Summit 2011, organized by Microcredit Summit Campaign held in Valladolid Spain from November 14-17, 2011. More than 1800 delegates from more than 100 countries attended the program.

 

GFSPL Updates

GFSPL has designed a program called ‘Connect’ for senior and experienced professionals to address the Head Office team on interesting topics. This meeting is scheduled for every 2nd and 4th Friday of the month. In a latest series of this event, Mr. Brij Mohan visited us on 18th November 2011 and he shared with us the various aspects of MFI & how the MFI industry is shaping up.

Outreach

Each and every step on our way is significant because that takes us closer to our aim.

GFSPL Updates

GFSPL organized a Health Camp at Parbhani on 29th Nov 2011 in Wangi Road area of Parbhani where we have 25 Kendras consisting of over 500 members. The Health Camp was organized in association with a well-known private hospital in town, M/s Deshmukh Hospital and M/s Child Care Center. Dr. Zafar Iqbal, a well known Pediatrician in Wangi Road area and in local Civil Hospital, was kind enough to provide us his hospital as venue for the camp and the requisite medical amenities for the event. The Health Camp saw a 110 people register and received free consultation.

 

GFSPL Updates

The Stabilized Mud Block construction demonstration was conducted on 2nd November 2011 by Grama Vidyal & Habitat for Humanity (HFH) in Thigalarahosahalli village in Kanakapura for GFSPL clients – to create awareness and promote low cost yet high strength mud blocks for construction. More than 80 people including GFSPL clients & their spouses, local masons and Navya Disha employees attended the event. Moreover, technical support shall be offered by HFH to clients interested in constructing toilets using these blocks.

 

GFSPL group

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