Microfinance Focus, December 12, 2011: The 8th Microfinance India Summit themed “Bridging the Hiatus, Building Trust”, kicked off in New Delhi today.

Opening the two day event, Y C Nanda, Chairman, Microfinance India Advisory Group said, “Whatever has happened in Andhra is all gone now and we’ve seen something good come out of it. Now we see regulations being pushed forward and that is a good sign”.

“Millions and millions of families have suffered a lot. Institutions that have suffered may recover but the lack of funds has had serious consequences on their lives. These people have paid for the mistakes that we have all made. Fortunately, things are looking up differently now”, he said.

‘State of the Sector Report 2011’ along with ‘Two Decades of SHGs in Microfinance: Time for a New Direction?’ and ‘Microfinance India Social Performance Report 2011’ were released during the inaugural session at the Summit.

The two day Summit will provide a platform for stakeholders to come together and discuss the current debates of client protection and social performance, the implications of a regulatory environment, the new thrust of the SHG movement and obstacles of financial inclusion.

Plenary sessions on State of the sector and SHG Movement will be held today. Issues including microinsurance, pension, responsible growth, social performance, savings, community based microfinance and Aadhar will be discussed in breakthrough sessions.

Summit’s first day will conclude with the Microfinance India Awards presentation ceremony.