Factors influencing new product development in microfinance institutions: a perspective from north Indian microfinance institutions
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Indicators
CFTS SONATA MIMO Drishtee Product Bada Loan v yapar Mitr House Improvement Loan (HL),
Enterprise Loan (EL) Category A and Category B Loan, savings through Banking correspondent (BC)/ Banking facilitator (BF)
Similar as previous product,
no changes. Operating cost Average funding cost Portfolio At Risk (PAR) (based on promoter’s experience) 25 customers per loan officer (LO) 2 LOs initially for 6 months Other operations costs Average funding cost Possible write off at 7% (based on discussions with banks and promoter’s own understanding) Based on the operations expenses of the company with a little margin for profit. Place Existing areas Existing as well as new operational areas
HL—existing ops area EL—New operations areas Existing as well as new areas
Through Bada Loan Officers (BLOs)
Through specially appointed commercial executives HL—through own field executives EL—through field executives and pamphlets The insurance product is being popularized by field executives in their compulsory group training. Category A—Through own field staff called as sales executives Category B — Through Microfinance Executive (MFE) BC/BF—through Kiosks Owners (KOs) © De Boeck Supérieur | Téléchargé le 25/04/2022 sur www.cairn.info (IP: 178.237.70.187)
Sanjeev KAPOOR and Gaurav SINHA 94
Journal of Innovation Economics – 2013/1 – n° 11 sustainability of the organization. They also feel that customers know the best to utilize the amount, so the purpose of using this product rests on the customers’ discretion. The promoters of MIMO prefer to introduce need/ demand based product with a diverse range. They believe that customers prefer different types of products that suit their needs. However, Drishtee’s promoters’ focus more on use of technology to provide various kinds of serv- ices to people especially through use of its base network of Kiosks across the country. In fact, the role model and philosophies of these institutions also led them to customize their products accordingly (Table 3). While CFTS struggled for many years and retained its focus on “vanilla” product to provide access to poor women in rural areas before finalizing an individual loan product, So- nata customized its products to suits the needs of the customers making the repayments flexible. Similarly, MIMO, since its inception, focused on differ- ent types of loan products for its customers. It sensed a need for housing loan in its area and within two years of inception it has different types of products in its kitty. Drishtee also retained its technology focus and thereby used it to promote its products through a number of kiosks. Role of Governance Table 3 – Yüklə 0,86 Mb. Dostları ilə paylaş:
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