Grambikash || OIther

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Grambikash || OIther

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Event
Faq

Notice

Best Client-Centric Activities Award by KPMG in collaboration with AMFI-WB: Gram Bikash was awarded for Best Client Centric Activity by KPMG in 2018-19 Post On :
GBK has obtained MFI 3+ (i.e. Top 4) rating from CARE on 26.09.2016.: SMGBK has obtained MFI 3+ (i.e. Top 4) rating from CARE on 26.09.2016. Post On :
ARSENIC FREE SAFE DRINKING WATER: WE HAVE RECENTLY INTRODUCED ARSENIC FREE SAFE DRINKING WATER , IN COLLABORATION WITH PSI INDIA & HINDUSTAN UNILEVER LIMITED, AT RANAGHAT UNDER NADIA DISTRICT. Post On :
Targeting the Hard Core Poor in association with Bandhan: Targeting the Hard Core Poor (THP) in association with Bandhan-Konnagar:- THP project was launched in 2014-15 and had achieved cent per cent success rate with an objective to make "Beggar Free India". The success was encouraging enough as we could able to bring back 78 women out of 100 in the main stream of the society from absolutely poverty. Our next target is to cover 500 poor women under this project. Post On :
Sanitation Project with FWWB at Bihar: Sanitation Project with FWWB at Bihar:- this project is funded by FWWB, the objective of this project is to provide 100% pure scientific sanitary toilet to the villagers of Bihar. We are conducting the project from our branches in Bihar as more than 70% households there are not having sanitary toilets. Post On :
Mr. Ganesh Chandra Modak has been awarded INDIRA GANDHI SADBHAVANA AWARD 2015 and JEWEL OF INDIA AWARD 2016 for outstanding achievements in the field of microfinance.: Mr. Ganesh Chandra Modak has been awarded INDIRA GANDHI SADBHAVANA AWARD-2015 and JEWEL OF INDIA AWARD–2016 for outstanding achievements in the field of microfinance. Post On :

Event

14Dec2017

28Nov2017

01Jun2017

Faq

What are the methods of recovery used by the NBFC-MFIs ? :

Recovery should normally be made only at a central designated place. Field staff shall be allowed to make recovery at the place of residence or work of the borrower only if borrower fails to appear at central designated place on 2 or more successive occasions
Is there any cap on an individual membership with SHG/JLG and/or number of NBFC-MFIs from whom a SHG/JLG/an individual can borrow? :
Is there any prepayment penalty that can be levied by an NBFC-MFI? :
How can a borrower find about the current interest rate being charged by the NBFC-MFI? :
What a borrower should ensure when he gets a loan card from the NBFC-MFI :
- the effective rate of interest charged;
- all other terms and conditions attached to the loan;
- information which adequately identifies the borrower;
- acknowledgement by the NBFC-MFI of all repayments including installments received and the final discharge
- All entries in the Loan Card should be in the vernacular language.
- The interest charged to customer is calculated on a reducing balance basis.
- NBFC-MFI does not levy penalty on delayed payment
What should a customer keep in mind for the loans extended by an NBFC-MFI? :
What are the charges that a customer is supposed to pay for the loan that he takes from an NBFC-MFI? :
Can an NBFC-MFI charge a differential rate of interest to its customers? If yes, is there any limit imposed by RBI on it? :
What are the processing charges that an NBFC-MFI can levy on its customers? :
Can NBFC-MFIs lend funds for personal use/emergencies? :
Can renovation/home improvement loans of smaller amount (Approx. 50000) be included under qualifying assets? :
What is the maximum amount of loan that can be disbursed by MFIs? :
FAQs on Microfinance :
What is the maximum amount of loan that can be disbursed by MFIs?

NBFC-MFI can disburse loan to a borrower with a rural household annual income not exceeding Rs. 1,00,000 or urban and semi-urban household income not exceeding Rs. 1,60,000 . The limit of total indebtedness of the borrower should not be more than Rs.1,00,000. Education and medical expenses will be excluded while arriving at the total indebtedness of a borrower.

Can renovation/home improvement loans of smaller amount (Approx. 50000) be included under qualifying assets?

Home loans generally have mortgage of a dwelling unit. If all conditions as applicable for qualifying assets including collateral free loans and not less than 50% of the loan for income generation purpose are met, these may be treated as qualifying assets.

Can NBFC-MFIs lend funds for personal use/emergencies?

A part (i.e. maximum of 50 per cent) of the aggregate amount of loans may be extended for other purposes such as housing repairs, education, medical and other emergencies. However, aggregate amount of loans given to a borrower for income generation should constitute at least 50 per cent of the total loans from the NBFC-MFI.

What are the processing charges that an NBFC-MFI can levy on its customers?

Processing charges by NBFC-MFIs shall not be more than 1% of gross loan amount. Processing charges need not be included in the margin cap. Further, NBFC-MFIs shall recover only the actual cost of insurance for group, or livestock, life, health.

Can an NBFC-MFI charge a differential rate of interest to its customers? If yes, is there any limit imposed by RBI on it?

Yes, an NBFC-MFI can charge a differential rate of interest to its customers but the variance for individual loans between the minimum and maximum interest rate cannot exceed 4 per cent.

What are the charges that a customer is supposed to pay for the loan that he takes from an NBFC-MFI?

A customer needs to know that there are only three components in the pricing of a loan viz. the interest charge, the processing charge and the insurance premium (which includes the administrative charges in respect thereof). An NBFC-MFI cannot levy any charges apart from the three mentioned above

What should a customer keep in mind for the loans extended by an NBFC-MFI?

The NBFC-MFI is required to be fair and transparent in its dealings with the borrowers and No security deposit/ margin/collateral is required to be kept by the borrower with the NBFC-MFI.

What a borrower should ensure when he gets a loan card from the NBFC-MFI
- the effective rate of interest charged;
- all other terms and conditions attached to the loan;
- information which adequately identifies the borrower;
- acknowledgement by the NBFC-MFI of all repayments including installments received and the final discharge
- All entries in the Loan Card should be in the vernacular language.
- The interest charged to customer is calculated on a reducing balance basis.
- NBFC-MFI does not levy penalty on delayed payment
How can a borrower find about the current interest rate being charged by the NBFC-MFI?

RBI has made it mandatory for the NBFC-MFI to prominently display in all its offices and in the literature issued by it and on its website, the effective rate of interest being charged by it.

Is there any prepayment penalty that can be levied by an NBFC-MFI?

NBFC-MFI cannot levy prepayment penalty.

Is there any cap on an individual membership with SHG/JLG and/or number of NBFC-MFIs from whom a SHG/JLG/an individual can borrow?

A borrower can be a member of only one SHG/JLG. He can borrow from NBFC-MFIs as a member of a SHG or a member of a JLG or borrow in his individual capacity. Further, an SHG or JLG or individual cannot borrow from more than 2 NBFC-MFIs.

Q 17. What are the methods of recovery used by the NBFC-MFIs ?

Recovery should normally be made only at a central designated place. Field staff shall be allowed to make recovery at the place of residence or work of the borrower only if borrower fails to appear at central designated place on 2 or more successive occasions.

In my experience, poor people are the world's greatest entrepreneurs. Every day, they must innovate in order to survive. They remain poor because they do not have the opportunities to turn their creativity into sustainable income."
Muhammad Yunus

"The key to ending extreme poverty is to enable the poorest of the poor to get their foot on the ladder of development. The ladder of development hovers overhead, and the poorest of the poor are stuck beneath it. They lack the minimum amount of capital necessary to get a foothold, and therefore need a boost up to the first rung. "
Jeffrey Sachs

Small loans can transform lives, especially the lives of women and children. The poor can become empowered instead of disenfranchised. Homes can be built, jobs can be created, businesses can be launched, and individuals can feel a sense of worth again.
Natalie Portman