You are on page 1of 3

V O L U M E 1 , I S S U E V 2 M A Y , 2 0 0 9

Statutory Audit conducted for Sanchetna
Sanchetna had its first Statutory Audit conducted at the
end of financial year March 2009. The Varanasi based
Chartered Accountant firm, “Krishna Anurag and Com-
pany” conducted the audit from the 28th – 31st of
March. The audit which spanned over 3 days covered
all the field processes along with the Financial Account-
ing and the systems. The total portfolio outstanding at
the end of financial year 2009 stood at Rs. 33, 24,095.

RBSFI Technical Assistance Programme starts with the AMI
Training and an exposure Visit

The third and final round of RSFI MicroSave Technical Assistance Programme has begun with a total
of 18 new partners. The final tally of partners now stands at 42. To start with an exposure visit to one of
the leading MFI’s in Kolkata was organized. Sanchetna was represented by their Manager - Field Op-
erations, Biswanath Swain, who visited one of their branches in Kolkata and had a close look at their
field operations and also got an opportunity to interact closely with their top management.

The highlight of the exposure visit was the new loan product named “Bazaar Loan”. This loan product,
which has specially been developed to cater to working capital needs of petty vendors in Kolkata. The
clients, who are predominantly male, form five member JLGs to get a loan. Repayments are collected
from them at the market on a weekly basis. The loan amount varies between Rs. 6,000 to Rs. 10,000.

Next was the Mini - AMI Training Programme held during the 13th – 23rd of April in Lucknow. The train-
ing was attended by participants from over 18 MFI’s from the Northern, North Eastern and Western
parts of India. The subjects covered during the training were Process Mapping, Human Resources,
Financial Management and Accounting. The highlight of the training was the daily plenary sessions,
which were conducted by some of the leading names from the industry who gave an insight about the
various challenges and the opportunities faced by the Microfinance Sector.

The last week of April had the MicroSave team send 4 of their consultants to Sanchetna office for the
Strategic Business Planning (SBP) exercise. This week long exhausting exercise had the participation
of the entire management. The Mission and Vision Statements were discussed in detail along with the
Core Values of the organization. After this the KOGMA Exercise was done. The last two days saw the
entire business plan drafted on the “MicroFin” Software. The entire exercise proved to be extremely
useful which gave enough food for thought to team Sanchetna.
Brand Equity 2009

Not only was it a unique (a team from Lucknow for a first time in19 years) making it to the final six of the Brand
Equity Quiz 2009 presented by Idea. The quizzing team from Sanchetna Financial Services came third in the latest
edition of the Delhi Round. A hugely-successful Delhi round saw 37 teams participated in the preliminaries which
comprised of a rapid fire round of 30 questions for the teams. The finalists on stage comprised of team from Ac-
centure (winners), Brand Planet Elephant, Infosys, NTPC (2 teams) and Sanchetna from Lucknow.