Rationale for the program:

The micro finance sector in India is registering a higher growth due to the enabling regulatory environment provided to the MFIs by RBI.  The major players – i.e. NBFC  MFIs has grown by 84% during the financial year 2015-16 and the loan outstanding as of March 2016 was Rs.53233 crores reaching out to 32.5 million active clients. The staff in these 56 NBFC MFIs have increased from 63084 as of March 2015 to 86565 staff as of March 2016. When the growth rate is higher, the quality of manpower recruited is not matching with the skill sets required for the entry level jobs. When the staff are recruited by MFIs, it requires 4 to 6 months for them to learn the job skills and then only they become as productive staff for their organizations. If they are properly trained, they can become productive on the very first month of their joining the MFIs. Right now, this gap has not been addressed by any institution. Some of the training institutions offer only training programs which is based only on theory and no practical exposure is being offered.

Likewise, new banks like Small finance banks and payments banks are also going to come, which will increase the search for staff talents.

Under this context, it will be a good contribution to the orderly growth of the sector, if we develop well trained “YOUNG PROFESSIONALS” for MFIs and Specialized banks.

Project Beneficiaries: Rural Youth and Women

Project Location: Kanchipuram District

Status: Completed

Objectives of the Project:

• To prepare the manpower for the MFIs (at Branch manager level) and specialized banks (at entry level jobs).
• To identify well qualified manpower from the marginalized communities (Dalits, Tribals& women) as well as from the excluded regions like North East  and to train them to get placement in MFIs / Specialized Banks,  to promote inclusion.

Duration of the project: 6 Months

Training Methodology:

The program is conducted in association with M/s Belstar Microfinance Pvt Ltd and Sankar University. The training has been conducted on a blended mode with classroom training and field visits, internships. The training is done at Sankara University campus. 

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.

 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.5,00,000/-

• 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
• Well Designed project with special emphasis on supporting beneficiaries from North East India
• Relicable and Sustainable model
• Clarity in Project Deliverables and Timelines