Business Standard focuses on a non so well known Microfinance institution - Kathir Foundation, KAS Foundation and Jaggannatha Financial Services - all started by Kathiresan, an ex-employee of ICICI Bank. This microfinance institution operates in Tamil Nadu, Pondicherry, Andhra Pradesh, Orissa, Chattisgarh, Maharashtra and West Bengal.
The range of services offered by them is interesting, all through ICICI or subsidiaries. In addition to opening savings bank accounts they have managed to offer medical insurance and micro-mutual fund SIP (systematic investment plan). A monthly investment of just Rs. 50 on mutual fund seems a cool idea. Some of the equity funds are offering excellent returns these days in India. The poor have rarely had access to the capital markets.
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An interesting blog of a young
American working for a MFI in New Delhi :
http://bankerinindia.typepad.com/my_weblog/
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