“The media does not understand the sector,” and “the media tends to sensationalize news,” are two of the most frequently heard comments when you ask Microfinance leaders what they think of the media coverage the sector receives. The reports about the state of microfinance and its practitioners in India have been unflattering, to say the least. ‘Carpet bombing’, ‘palming profits off the poor’ and ‘killing interest rates’ are the more common accusations flung at leading microfinance institutions.
On its part, the media believes that it is doing its job by bringing to light facts about the sector while institutions bristle at the apparent negativity, and believe that the media is reporting on an industry that it does not yet fully understand. However, the sector freely admits that reforms are badly needed and the media are in fact working to gain a better understanding of nascent industries such as microfinace.
Recognizing this disconnect, Intellecap, a thought leader in the sector, and host of the Srijan Financial Inclusion Forum 2010, aims to bring together the media and microfinance leaders in a candid face-to-face discussion. The aim is to narrow the gap in understanding and communication that currently exists between the two sides and find middle ground by thrashing out the differences. The aim is to enable the two sides to work together in building a better future for microfinance in the next decade – one that is transparent, client-centric and scalable.
Srijan is a two day action based Financial Inclusion Forum for top decision makers to define the 2020 roadmap for Indian Microfinance for the next decade, and assess innovative technology interventions to catalyze greater financial inclusion. Scheduled for October 7-8, 2010 at the Taj Lands End in Mumbai, Srijan aims to create a platform that sets the stage for an Advocacy Action Agenda for greater financial inclusion in India.
Intellecap is a pioneer in providing innovative business solutions that help scale profitable and sustainable enterprises dedicated to social and environmental change. The company’s unique positioning at the intersection of social and commercial business sectors, allows it to attract and nurture intellectual capital that combines business training of the commercial world with passion and commitment of the social world to create distinctive solutions that include best practices and principles of both cultures. Intellecap operates in multiple capacities in the social-commercial space: facilitating investments, providing strategic consulting and business advisory services, supporting operational planning and implementation, and developing information-sharing and industry-enhancing platforms that promote and build SUSTAINABLE, PROFITABLE and SOCIALLY RESPONSIBLE enterprises.
For more information please visit http://www.intellecap.com