Introduction:

Microfinance is growing at a rapid pace, opening-up several career opportunities. The country's microfinance sector showed signs of recovery during the fourth quarter of the financial year 2021-22 after the pandemic with over 13 per cent portfolio growth among lenders from the previous quarter and around 5 per cent year-on-year (YoY) growth. It is estimated that the job opportunity in Microfinance may increase by 20-25% next year, along with the present hiring. 

Hand in Hand Academy has gained a rich experience of designing and rolling out the ‘train-hire’ model of frontline operational team for Belstar Microfinance Limited, Hand in Hand India, Chola MS General Insurance Company Ltd, and NABARD Financial Services Ltd. The Academy is now set to expand the outreach of this model to select beneficiaries. The Academy will focus on the entry level job roles such as Credit Officers, Credit Executives, Business Executives, and Junior Relationship Executives etc. They are the frontline operations executives in microfinance institutions, housing finance companies and gold loan companies. They are largely responsible for clients sourcing, marketing of loan products, customer relations and service, promotion and operational aspects such as KYC, documentation etc. They will draw a salary of about Rs. 12,000/- per month and will have opportunities for drawing incentives of about Rs. 2000 /- per month based on their performance. 

In case of M/s Belstar Microfinance, there is a vacancy for 40 entry level professionals.

The present proposal is planned in this background.

Project Beneficiaries: Rural Youth and Women

Project Location: Kanchipuram District

Status: Ongoing

Objectives of the Project:

• To develop sustainable employment opportunities to the youth of Kanchipuram district
• To build the capacities of the rural youth to become successful professionals in Microfinance sector

Duration of the project: Training duration is of 75 days, with 60 working days.

Training Methodology:

The Training duration is of 75 days, with 60 working days. During the 60 working days, classroom training is conducted for 30 days, 20 days will cover Field Work and Assignments, Internship will be given to the participants for 10 days. The training will cover product features, inbound and outbound sales, lead generation, objection handling, customer relationship, business communication, operational aspects, interpersonal skills, phone and email etiquettes etc. This will be followed by one month of branch internship. The students will be placed in any one of the nearby branches to their home town for the branch internship. Placement Facilities: After the successful completion of the training, the Academy will award them a certificate, post which they will be facilitated for job placements with M/s Belstar Microfinance Ltd or related companies.

Placements:

After the successful completion of the training, the Academy will award them a certificate, post which they will be facilitated for job placements with M/s Belstar Microfinance Ltd or related companies.

Academy has been catering to the training needs of M/s Belstar Microfinance. In the past also, Academy has conducted similar training program at Kanchipuram and facilitated job placements of the trainees at M/s Belstar Microfinance.

At the present moment, M/s Belstar Microfinance has vacancies for entry level jobs in Kanchipuram.

The proposed program will suffice the requirements of M/s Belstart Microfinance in Kanchipuram.

Expected outcome(s) of the project

• 80% of the trainees to be settled
• Rs.12,500/- increase in Income per trainee per month

Program Budget: Rs.6,07,500/-

• Clear and Definitive Industry - Academy stakeholder engagement with M/s Belstar Microfinance Pvt Ltd Company to ensure 100% placement of beneficiaries trained in the program
• Relicable and Sustainable model
• Clarity in Project Deliverables and Timelines