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09 Grameen Bank

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09 Grameen Bank

  1. 1. Grameen Bank
  2. 3. <ul><li>Micro-credit : programs that extend small loans or wider range of financial services to poor people to foster self-employment and income generations and improve their living standards . </li></ul><ul><li>Micro-finance : programs that provide credit for self-employment and other business and financial services, includes both credit and savings aspects of the program. </li></ul>What is Micro-credit…
  3. 4. Main features of micro-credit… <ul><li>Micro-credit generally involves : </li></ul><ul><ul><ul><li>Small loans, for both working capital and assets </li></ul></ul></ul><ul><ul><ul><li>Collateral free, substituted by group guarantee or compensatory savings </li></ul></ul></ul><ul><ul><ul><li>Access to repeat and larger loans </li></ul></ul></ul><ul><ul><ul><li>Intensive supervision and close monitoring </li></ul></ul></ul><ul><ul><ul><li>Loan period generally for one year, may go up to 3 years </li></ul></ul></ul><ul><ul><ul><li>Options available for weekly/monthly installment payment </li></ul></ul></ul><ul><ul><ul><li>Can combine social development with financial intermediation </li></ul></ul></ul>
  4. 5. Professor Muhammad Yunus, founder of the globally renowned Grameen Bank and architect of Grameen Model. Joint winner of 2006 Nobel Prize Winner for Peace Architect of Grameen Group Model
  5. 6. About Muhammad Yunus <ul><li>He was born in an obscure village in Chittagong in June, 1940 </li></ul><ul><li>In 1974, he was the head of the Economics Dept. at Chittagong University </li></ul><ul><li>At that time, there was a famine, and he established a rural economic program </li></ul><ul><li>In 1975, he also began a Gram Sarkar Programme, it acted as a fourth layer to the government, however it had to be shut as it was declared illegal and unconstitutional </li></ul>Yunus, was unable to convince bank managers to lend money to the rural poor without collateral security. In 1976 he launched an action research project to examine the possibility of designing a credit delivery system to provide banking services targeted at the rural poor.
  6. 8. <ul><li>extend banking facilities to poor </li></ul><ul><li>eliminate the exploitation of the poor by money lenders </li></ul><ul><li>create opportunities for self-employment </li></ul><ul><li>bring the disadvantaged, mostly the women from the poorest </li></ul><ul><li>households, within the fold of an organizational format </li></ul><ul><li>reverse the age-old vicious circle of &quot;low income, low saving & low investment“ into virtuous circle of &quot;low income, injection of credit, investment, more income, more savings, more investment, more income </li></ul>The Project Objectives were:
  7. 9. Opportunity Identified <ul><li>Designing credit delivery system to provide Banking Services targeted at the rural poor who were capable of self sustenance (initially started with funding women initiatives)‏ </li></ul><ul><li>Organizing the un-organized sector largely dominated by the corrupt money lenders </li></ul><ul><li>Bring the disadvantaged, mostly the women from the poorest into the financial umbrella </li></ul><ul><li>Year 1976-79: Started with a pilot project in District Jobara, Bangladesh </li></ul><ul><li>He made his first loan of $27 to 42 women so that they could expand their bamboo business </li></ul><ul><li>Year 1980-83: Spread across the country with the help of Central Bank and the Nationalized Banks </li></ul><ul><li>Year 1983: Transformed into an Independent Bank by the Government Legislation </li></ul>
  8. 10. Grameen Bank vs Conventional Banks <ul><li>To bring economic and social change to the poor. </li></ul><ul><li>Based on trust </li></ul><ul><li>Looks at what the borrower can have </li></ul><ul><li>Located in rural areas </li></ul><ul><li>The bank goes to the customer </li></ul><ul><li>Flexible payment scheme </li></ul><ul><li>Most owners and borrowers are poor women </li></ul><ul><li>Loans are for productive activity, not consumption </li></ul><ul><li>To make profit </li></ul><ul><li>Based on collateral </li></ul><ul><li>Looks at what the borrower already has </li></ul><ul><li>Located in urban areas </li></ul><ul><li>Customers have to go to the bank </li></ul><ul><li>Strict payment scheme </li></ul><ul><li>Most owners and borrowers are wealthy men </li></ul><ul><li>Loans could be used for consumption or other activities. </li></ul>
  9. 11. Structure of Grameen Bank Head Office Zonal Offices Area Offices Branches Centers Groups In Villages 1 ZO for 8 Area Offices 1 AO for 8 10-12 Branches 1 Branch for 50-60 Centers 1 Center for 6-8 Groups Each Group will have 5 members
  10. 12. How it functions <ul><li>5 member group is formed, they must be neighbors but not relatives. </li></ul><ul><li>Group approves all loan requests, but liability lies with the individual. </li></ul><ul><li>8 Groups to a Center. </li></ul><ul><li>Lending is in the order of 2:2:1 (leader being the last). </li></ul><ul><li>Close supervision of credit by the group as well as the bank staff. </li></ul><ul><li>Group meets once in a week to plan out loan repayment. </li></ul><ul><li>Stress on credit discipline and collective borrower responsibility or peer pressure. </li></ul>
  11. 13. <ul><li>Very small loans given without any collateral, no legal instrument, no joint group guarantee or joint liability </li></ul><ul><li>Loans repayable in weekly installments spread over a year . </li></ul><ul><li>Eligibility for a subsequent loan depends upon repayment of first loan </li></ul><ul><li>Loans are given to Individual for quick income generating activities which employ the skills that borrowers already posses. </li></ul><ul><li>Interest rate varies between 15-24 % p.a. on flat basis and on a weekly basis. </li></ul>How it functions (contd)‏
  12. 14. Savings Programme <ul><li>It is compulsory for every member to save one Taka per week which is accumulated in the Group Fund. </li></ul><ul><li>This account is managed by the group on a consensual basis, thus providing the members with an essential experience in the collective management of finances. </li></ul><ul><li>The amount in the Fund is deposited with Grameen Bank and earns interest. </li></ul><ul><li>A member can borrow from this fund for consumption, sickness, social ceremony or even for investment (if allowed by all group members). </li></ul>
  13. 15. For what purposes loans are granted <ul><li>Average loan size is $120 and must be used for business venture </li></ul><ul><li>Self Employment- Income generating activities. </li></ul><ul><li>Credit for building sanitary latrines </li></ul><ul><li>Credit for installation of tube wells that supply drinking water and irrigation for kitchen gardens </li></ul><ul><li>Credit for seasonal cultivation to buy agricultural inputs </li></ul><ul><li>Loan for leasing equipment / machinery, i.e cell phones purchased by Grameen Bank members </li></ul><ul><li>Finance projects undertaken by the entire family of a seasoned borrower. </li></ul>
  14. 16. Value Creation & Impact <ul><li>Eliminate the exploitation of the poor by money lenders by alternative financing facilities </li></ul><ul><li>Create opportunities for self-employment </li></ul><ul><li>Households, within the fold of an organizational format </li></ul><ul><li>Reverse the age-old vicious circle of &quot;low income, low saving & low investment“ into virtuous circle of &quot;low income, injection of credit, investment, more income, more savings, more investment, more income </li></ul>
  15. 17. Members : 6.83 million – 96 % are women, 1,086,744 groups Area Coverage : 73,609 villages through 121,755 centres, 2283 branches and 20,233 staff Deposits : Tk 41.22 b – 62 % from members , rates 8.5 to 12.0% Loans : Cumulative disbursement - Tk 301.72 b Loan Outstanding – Tk 32.66 b Annual disbursement – Tk – 49.46 b Vital Statistics Data as of Nov 2006. Source- Grameen Foundation
  16. 18. Sustainability Loan Recovery Rate : 98.91 per cent ROI on loans – Income generating activities – 20 % Housing Purposes – 8 % Student loan – 5 % All interest rate are simple interest & applied on declining basis. Interest collected not to exceed Principal After 1995 the Bank had decided not to receive anymore donor funds. It has become self reliant.
  17. 19. 16 Discipline
  18. 20. 1. We shall follow and advance the four principles of Grameen Bank --- Discipline, Unity, Courage and Hard work – in all walks of our lives
  19. 21. 2. Prosperity we shall bring to our families .
  20. 22. 3. We shall not live in dilapidated houses. We shall repair our houses and work towards constructing new houses at the earliest.
  21. 23. 4. We shall grow vegetables all the year round. We shall eat plenty of them and sell the surplus.
  22. 24. 5. During the plantation seasons, we shall plant as many seedlings as possible
  23. 25. 6.We shall plan to keep our families small. We shall minimize our expenditures. We shall look after our health.
  24. 26. 7. We shall educate our children and ensure that they can earn to pay for their education .
  25. 27. 8. We shall always keep our children and the environment clean.
  26. 28. 9.We shall build and use pit-latrines
  27. 29. 10.We shall drink water from tubewells. If it is not available, we shall boil water or use alum .
  28. 30. 11. We shall not take any dowry at our sons' weddings, neither shall we give any dowry at our daughters wedding. We shall keep our centre free from the curse of dowry. We shall not practice child marriage
  29. 31. 12. We shall not inflict any injustice on anyone, neither shall we allow anyone to do so.
  30. 32. 13.We shall collectively undertake bigger investments for higher incomes
  31. 33. 14. We shall always be ready to help each other. If anyone is in difficulty, we shall all help him or her.
  32. 34. 15. If we come to know of any breach of discipline in any centre, we shall all go there and help restore discipline
  33. 35. 16. We shall take part in all social activities collectively.
  34. 36. 10 Indicators of measuring social impact <ul><li>Family lives in a house with a tin roof </li></ul><ul><li>Family members drink pure water </li></ul><ul><li>All children in the family over 6 years go to school </li></ul><ul><li>Minimum weekly loan installment in Tk 200 or more </li></ul><ul><li>Family uses sanitary latrine </li></ul><ul><li>Family members have adequate clothing for everyday use </li></ul><ul><li>The borrower maintains an average balance of 5000 Tk </li></ul><ul><li>Family can take care of health </li></ul><ul><li>Family has no difficulty having 3 square meals a day </li></ul><ul><li>Family has sources of additional income </li></ul>
  35. 37. Replication <ul><li>Two forms of replication </li></ul><ul><li>Extension of existing organization </li></ul><ul><li>Setting up new organization </li></ul>
  36. 38. <ul><li>Primary requirements of replication and scaling up: </li></ul><ul><li>1. Requirement of the service provided by the bank </li></ul><ul><li>2. Availability of required financial and governmental backing </li></ul><ul><li>3. Sustainability of the model </li></ul>
  37. 39. <ul><li>Advantages of scaling up of the same organization </li></ul><ul><li>1. With the growth of the organization its capacity to give loans of higher amount increases </li></ul><ul><li>2. The bank can employ better fund management techniques </li></ul><ul><li>3. The bank can employ the use of technology in its operations </li></ul><ul><li>4. The bank can diversify its operations into other areas that are of social importance (eg. The gramin family of organizations)‏ </li></ul><ul><li>5. The bank can utilise the government policies in a more effective way   </li></ul>
  38. 40. <ul><li>Requirement of setting up new organizations </li></ul><ul><li>1. Faster replication </li></ul><ul><li>2. world reach </li></ul><ul><li>3. Customization of policies according to the specific needs of the people of the country </li></ul><ul><li>4. More flexibility than one single organization </li></ul><ul><li>5. As the main aim is social welfare, too much power in the hands of a single organization is dangerous </li></ul>
  39. 41. <ul><li>Specific requirements for scaling up through setting up new organizations </li></ul><ul><li>1. Sufficient space of operations </li></ul><ul><li>2. Trust in the model </li></ul><ul><li>3. Availability if entrepreneurs to take the cause further </li></ul><ul><li>4. Is the model sustainable for organizations having smaller operation </li></ul>
  40. 42. <ul><li>Therefore actual scenario: </li></ul><ul><li>As of 31 December 2005: 3133 micro credit institutions are reaching 113.26 million clients. 68.99 million are women. </li></ul><ul><li>The Micro Credit Summit, held in 1997, adopted the goal of reaching 100 million families by the year 2005. </li></ul><ul><li>2006 summit goal à to reach 175 million people by 2015. </li></ul>
  41. 43. <ul><li>Some Grameen Replicators in India </li></ul><ul><li>Share Micro Fin Ltd, Hyderabad </li></ul><ul><li>Spandana, Guntur </li></ul><ul><li>Swyam Krishi Sangam, Hyderabad </li></ul><ul><li>Cashpor Micro Credit, Varanasi </li></ul><ul><li>Grameen Koota, Bangalore </li></ul>
  42. 44. Grameen family of enterprises <ul><li>Grameen started to diversify in 1980 and these interests grown into separate organizations-: </li></ul><ul><li>Grameen Communications- not for profit IT company. </li></ul><ul><li>Grameen Shakti- promote and develop renewable energy technology. </li></ul><ul><li>Grameen Telecom </li></ul><ul><li>Grameen phone- GSM based cellular operator </li></ul><ul><li>Grameen Fund- to provide capital to SMEs </li></ul><ul><li>Grameen Trust- Aid in replication of the model internationally </li></ul><ul><li>Grameen Fisheries </li></ul><ul><li>Grameen Danone Foods -joint venture between Grameen Bank and French food company </li></ul>
  43. 47. “ It’s not people who aren’t credit-worthy. It’s banks that aren’t people worthy.” Muhammad Yunus
  44. 48. Governance of Grameen Bank Governance : Managed by 13 Member Board comprising 9 Members from borrower shareholders, 3 nominees of Government, and 0ne Managing Director