The document summarizes research on microfinance in Assam, India. It outlines the objectives to study the current status and informal practices of microfinance in the state. Data was collected from four districts on formal and informal microfinance providers. Informal providers include village societies and committees. Formal providers include NGOs, MFIs, banks, and cooperatives. Key findings include the emerging but nascent microfinance industry, role of banks and RRBs, presence of local MFIs, strong informal practices, and high interest rates charged informally.

1. Microfinance in Assam: An Overview Presented by: Dr. Debabrata Das Associate Professor Tezpur University Tezpur: Assam. August 13, 2010

7. August 13, 2010 Microfinance Providers of Assam Village Societies/ Namghar Committee / Bathow Microfinance Provirs in Assam Formal Informal Private Societies Village Societies/ Namghar Committee / Bathow Village Head/ Landlord Goot/ Mutual Group Banks NFI MFIs SGSY Commercial banks Co-oprative Bank RRBs NABARD SIDBI NEDFi NGO NBFC

9. List of Microfinance organizations in Assam August 13, 2010 Sl. no. Name Legal form Lending model 1 Assam Gandhi Smarak Nidhi, Kamrup Society Individual 2 Associated Gramya Unnayan Society, Sivasagar Society Individual member 3 ASTHA, Sonitpur Society SHG 4 Centre for Development Action and Appropriate Technology (CADAT), Sonitpur Society SHG member 5 Chaiduar Rural Development Centre, Sonitpur Society Individual 6 Dainijan Gaon Mahila Society Society Mixed 7 Deshabandhu Club Behara Bazar, Cachar Society SHGs 8 Gana Chetana Samaj Balipara, Sonitpur Society MFI-Federation 9 GRAMIN, Biswanath Chariali, Sonitpur Society MFI

10. August 13, 2010 Sl. no. Name Legal form Lending model 10 Jyoti Puthibharal and Yuvak Sangha, Sonitpur Society MFI-SHG member 11 Manab Seba Sangh, Kamrup Society SHG 12 North East Regional Human Resource Dev. Society (NERHURDS), Kamrup Society Mixed 13 PROCESTS, Guwahati Society SHG 14 RGVN, Guwahati Society transforming to NBFC others 15 Singkhap Mahila Samity ,Sivasagar Society SHG 16 Sipajhar Diamond Club Community Centre, Darrang Society MFI-NGO-SHG 17 Social Action for Appropriate and advancement in Rural Areas ( SATRA), Darrang Society Bank-NGO-SHG

11. August 13, 2010 Name Legal form Lending model 18 The North East Centre for All Round Development (CARD), Darrang Society MFI-SHG member 19 Tinsukia Gaon Tribal Mahila Samittee Society Mixed 20 CHAI, Dibrugarh Project MFI 21 North east Finservices ltd NBFC MFI 22 Nightangle Charitable Society NGO JLG 23 Asomi Fin PVT Ltd MFI SHG, JLG, Individual

12. Comparative profile of the MFIs August 13, 2010 MFIs Number of branches Total staff Total number of beneficiaries RGVN-CSP 78 467 29,309 groups NEDFi Offices in 8 states of NE 79 83367 (10177 groups ASOMI Finance Pvt ltd 50 196 37,439 (2897 SHGs PROCHESTA 6 48 2897 groups NCS 4 13 9526 NERFS 72 500 49,475 CHAI 1 11 400

13. Continued… August 13, 2010 *Informal institutions collect money from the depositors and disbursed the same to the creditors MFIs Fund providers RGVN-CSP FWWB, Opportunity International, IDBI, NABARD, SIDBI, NEDFI, HDFC and ICICI ASOMI Finance Pvt ltd Loan from Nationalised banks and Iincofin of Belgium NEDFi IDBI, ICICI ,IFCI, Small Industries Development Bank of India, Insurance Companies – LIC, GI, UTI bank and SBI PROCHESTA Loans from Nationalised banks, NABARD, AGVN, SIDBI, Gyan Vigyan Samiti Assam, State Resourse Centre Assam, Jan hikshan Sansthan, FWWB, IIBM NCS Nationalised banks, NEDFI, RGVN, SIDBI NERFSPL Nationalised banks, NEDFI, RGVN, SIDBI CHAI All India tea association, Tazo Tea, Mercy corps

14. Financial portfolio of the MFIs August 13, 2010 *As on 31st September 2009, # as on 31st December 2009 Repayment percentage: 97 – 99 % MFIs Loan portfolio [In Rs] as on June 2010 Interest rate of Loan Tenure for loan Repayment schedule RGVN-CSP 56.42 crore 10% and 7 % 1 year Weekly and monthly ASOMI Finance Pvt ltd 45.82 crore 15 % (per annum) 1 year Weekly NEDFi 25.27 crore# PLR+0.5% 1-5 years Monthly PROCHESTA 23.269 crore 18 % (per annum) 1-7 years Monthly NCS 4.73 crore 13% (per annum) 1 year Monthly NERFS 103 crore* 30 % (per annum) 1 year Flexible CHAI 3.010 crore 7.5 % (per annum) 1 year Fortnightly and monthly

17. Informal microfinance providers August 13, 2010 Saving society Amount require to open an a/c Deposit limit Interest on deposit Loan against deposit Interest on loan Janashree Khudrrs Sanchay Aachani Rs. 10 Rs. 5 (min) Rs. 200 (max) per day 12 % per annum 90 % 3 % per month Jivan Bikash Sanchay Aachani Rs. 10 Rs. 100 (min) Rs. 200 (max) Per month 12% p.a. 80 % 3 % per month Gyandeep Pvt Sociey Rs.10 Rs. 50 (min) Per week 12 % per annum 80 % 3 % per month Ashirbad Fin Society Rs.10 Rs. 50 (min) Per week 12 % per annum 80 % 4 % per month Ashadeep Saving Rs. 10 Rs.50 (min) Per month 12 % per annum 80 % 3 % per month Family Mission Saving Rs.10 Rs. 5 (min) Per day 12 % per annum 100 % 3 % per month Grayma Khudra Sanchay Aachani Rs.10 Rs. 50 (min) Per month 24 % per annum 90 % 4 % per month