PRODUCT MANAGEMENT

Project on

"Existing Financial Products in Indian MFI

industry and feasibility of those in context of
Annapurna Finance"

Submitted by: Mitali Roy

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ACKNOWLEDGEMENT

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EXECUTIVE SUMMARY

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TABLE OF CONTENTS

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 INTRODUCTION
Microfinance is defined as any activity that include the provision of financial services
such as credit, savings, and insurance to low income individuals which fall just above the
nationally defined poverty line, poor individuals which fall below that poverty line, with the
goal of creating social value. The creation of social value includes poverty alleviation and
the broader impact of improving livelihood opportunities through the provision of capital
for micro enterprise and insurance and savings for risk mitigation and consumption
smoothing.

MICROFINANCE INSTITUTIONS

Microfinance institutions are perhaps one of the most important vehicles to reach the rural
poor. These institutions can act as very important tool to provide the rural entrepreneurs
with micro-loans, which will help them to start their own businesses and sustain them. One
advantage that these institutions have over other financial services delivery vehicles is the
focus. While NGO have to straddle with various non-financial and financial services to
activities and commercial bank with other operations. MFIs can solely focus on providing
the financial services to the poor since the very objective of starting this kind of institution
is provide financial services in the rural areas.

MICROFINANCE IN INDIA

Microfinance is a way in which loans, credit, insurance, access to savings accounts, and
money transfers are provided to small business owners and entrepreneurs in the
underdeveloped parts of India.
The beneficiaries of microfinance are those who do not have access to these traditional
financial resources. Interest rates on microloans are generally higher than that on
traditional personal loan.

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 Who provides microfinance in India?

 Microfinance is largely provided by specialized “microfinance institutions” or MFIs.

 In India, microfinance institutions are registered as Non-Banking Financial
Companies (NBFC-MFIs) Section 25 Not-for-profit companies, Trusts, societies and
cooperatives.
 Microfinance is also provided by banks-which undertake microfinance activities
through self-help groups (SHGs) primarily funded through a special NABARD-
linked programmed called the SHG-Bank Linkage programmed (SBLP)

What are microfinance loans used for?

 Microfinance loans are primarily used for income generation needs supporting
borrower’s self-employment. These include working capital for small businesses,
purchase of a productive asset (milch animals, tractors), paying an existing high-
cost debt from informal sources, or paying children’s school fees.

Microfinance Companies in India

Some of the microfinance companies that offer loans to the unbanked and under-banked
population in India are as follows:
 Arohan Financial Services Pvt Ltd
 BSS Microfinance Pvt Ltd
 CashPro Micro Credit
 Equitas Microfinance Pvt Ltd
 Ashirwad Microfinance Pvt Ltd
 Bandhan Financial Services Pvt Ltd
 Disha Micro fin Pvt Ltd
 Annapurna Microfinance Pvt Ltd
 ESAF Microfinance and Investments Pvt Ltd
 Fusion Microfinance Pvt Ltd

Microfinance changing the face of poor India

Micro-finance is emerging as a powerful instrument for poverty alleviation in the new

economy. In India, micro finance scene is dominated by Self Help Groups (SHGs)-Banks
linkage programmed, aimed at providing a cost-effective mechanism for providing financial
services to the ‘unreached poor’. In the Indian context terms like “small and marginal
farmers”, “rural artisans” and “economically weaker sections” have been used to broadly
define micro-finance customer. Research across the globe has shown that, over time,
microfinance clients increase their income and assets, increase the number of years of
schooling their children receive, and improve the health and nutrition of their families.

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 Microfinance Channels
Microfinance in India operates primarily through two channels:
 SHG-Bank Linkage Programmed (SBLP) - This channel was initiated by NABARD in the
year 1992. This model encourages financially backward women to come together to form
groups of 10-15 members. They contribute their individual savings to the group at
regular intervals. Loans are provided to members of the group from these contributions.

This model has achieved a lot of success in the past and it has also gained a lot of
popularity for contributing to the empowerment of women in the country. Once these
self-sustaining groups reach stability, they function almost independently with minimal
support from NABARD, SIDBI, and NGOs.

 Microfinance Institutions (MFIs) - These institutions have microfinance as their primary

operation. These lend through the concept of Joint Liability Group (JLG), i.e., an informal
group that consists of 5-10 members who seek loans either jointly or individually.
Role of Microfinance Institutions (MFIs)
Microfinance services are offered by the following sources:
 Formal institutions, i.e., cooperatives and rural banks
 Semiformal institutions, i.e., non-government organizations
 Informal sources, such as shopkeepers and small-scale lenders

The different types of institutions offering microfinance in India are:

 Commercial banks
 Credit unions
 Non-governmental organizations (NGOs)
 Sectors of government banks
 Cooperatives

Lenders Offering Microfinance Loans to MFIs

 Reliance Money – Reliance Money offers microfinance solutions at great interest rates by
partnering with microfinance institutions (MFIs). The documentation required for this is
limited. Wholesale funding is provided to MFIs for on-lending. The lender also helps with
guarantees so that MFIs are able to get loans from alternative sources.

 ICICI Bank – ICICI Bank has been partnering with MFIs for at least 10 years to provide
microfinance loans to these institutions. Currently the bank is focusing on the following:

1. Setting up a profitable and healthy lending business with select MFIs

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 2. Investing that enables the healthy growth of the microfinance industry in India.
The financing offered by ICICI Bank to MFIs are predominantly term loans. The bank also
provides Pass Through Certificates. Other value-added facilities such as cash
management services, salary/savings accounts, and customized current accounts are
offered to MFIs for treasury and staff products.

 State Bank of India (SBI) – SBI offers loans to microfinance institutions and NGOs that act
as intermediaries for financing the needs of eligible entrepreneurs in the lower segment
of the society. These term loans can be repaid every month, quarter, or at intervals of 6
months. The total repayment period cannot be more than 3 years and cash credit
loans should be renewed on an annual basis.

 Axis Bank – Axis Bank offers loans to microfinance institutions that financially empower
low-income earners and micro-entrepreneurs. The bank has partnered with several MFIs
across the country. Term loans are offered by the bank to MFIs that extend this to the
eligible borrowers.

 DCB Bank – DCB Bank offers two types of products as part of microfinancing. These are
term loans and loans to MFIs for on-lending purposes.

LITERATURE REVIEW

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 MOHAMMED ANISUR RAHAMAN (2007)

Has examined that about microfinance and to investigate the impact of microfinance
on the poor people of the society with the main focus on Bangladesh. We mainly
concise our thesis through client’s (the poor people, who borrowed loan from
microfinance institutions) perspective and build up our research based on it.

 Susy Cheston (2002)

Has examined that microfinance has the potential to have a powerful impact on
women’s empowerment. Although microfinance is not always empowering for all
women, most women do experience some degree of empowerment as a result.

 Linda Mayoux (2006)

Has examined that microfinance programmers not only give women and men access
to savings and credit, but reach millions of people worldwide bringing them
together regularly in organized groups.

MICROFINANCE PRODUCT

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The microcredit loan- It is a provision of credit and other financial services and products of
very small amount to the poor in rural, semi urban & areas for enabling them to raise their
income levels and improving standards.

Types of Micro credit products:

 Income generation loan (IGL)
 Mid Term loan (MTL)
 Emergency loan
 Individual loan

cycles are usually shorter than traditional commercial loans with terms from typically six
months to a year with payments plus interest, payed weekly. Shorter loan cycles and
weekly payments help the borrowers stay current and not become surprised by large
payments. As a result, MFIs must charge interest rates that might sound high.

Micro savings – Savings made by low income or poor people made their savings in
particular institutions.

Types of Micro savings products:

 Involuntary deposits
 Voluntary deposits
 Contractual saving

A possibility to save money without no minimum balance. Allows people to retain money
for future use or for unexpected costs. In SHGs the members save small amounts of money,
as little as a few rupees a month in a group fund. Members may borrow from the group
fund for a variety of purposes ranging from household emergencies to school fees. As SHGs
prove capable of managing their funds well, they may borrow from a local bank to invest in
small business or farm activities. Banks typically lend up to four rupees for every rupee in
the group fund.

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Micro insurance – Gives the entrepreneurs the chance to focus more on their core business
which drastically reduces the risk affecting their property, health or working possibilities.
The is different types of insurance services like life insurance, property insurance, healt
insurance and disability insurance. The spectrum of services in this sphere is constantly
expanded, as schemes and terms of providing insurance services are determined by each
company individually.

Micro leasing – For entrepreneurs or small businesses who can´t afford buy at full cost they
can instead lease equipment, agricultural machinery or vehicles. Often no limitations of
minimum cost of the leased object.

Money transfer – A service for transferring money, mainly overseas to family or friends.
Money transfers without opening current accounts are performed by a number of
commercial banks through international money transfer systems such as Western Union,
Money Gram, and Anelik. On the surface they may seem like small money transfers, but
when one considers that such transactions take place millions of times around the world
each week, the numbers start to become impressive. According to the World Bank, the
annual global market for remittances – money transferred home from migrant workers – is
around 167 billion US dollars. The estimated total is closer to 230 billion dollars if one
counts unregulated transactions. Remittances are also an important source of income for
many developing countries including India, China and Mexico, all of which receive over 20
billion dollars each year in remittances from abroad.

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SWOT ANALYSIS OF MICROFINANCE
Strength-

 Helped in reducing the poverty.

 Huge networking available.

Weakness-

 Not properly regulated.

 High number of people access to informal sources of finance.
 Concentrating on few people only and mainly in urban areas.

Opportunity-

 Huge demand and supply gap.

 Employment opportunity.
 Huge untapped market.
 Opportunity for Pvt banks, NBFCs, Foreign banks to enter this business segment.

Threat-

 High competition.
 Neophyte industry
 Over involvement of Govt.

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 INDUSTRY PROFILE
Annapurna Finance Pvt Ltd was established in 2009, rooted in the philosophy of providing
financial aid and support to those who are excluded from the same. AFPL owes its guiding
principles to its parent organization People’s Forum, a non-government entity, founded on
the values of integrated development for all.

Annapurna Finance is one of the top 10 NBFC-MFIs in the country which is committed to
serve and empower the rural section of the society. Promoting financial independence and
providing the right resources to people in terms of manpower, operational area, client
outreach, and credit products, the organization has empowered millions of customers
today. With its head office in Bhubaneswar, the organization started with its operation in
Odisha and has now expanded up to 18 states catering to more than 1.8 million clients,
standing at a portfolio of 4793.16 Cr across 870 branches.

The journey of Annapurna began by providing a variety of micro credit products to the
people living in intrinsic parts of the country. Over time, the organization diversified its
offerings, and broadened its financial scope by extending support to small, medium, and
large enterprises as well.

The organization aims for an enduring impact in the lives of those associated with it.
Through CSR initiatives, AFPL has been able to achieve significant milestones in thematic
areas such as healthcare, gender sensitization and water and sanitation. Being recognized
as one of the most promising systematically important NBFC-MFIs in the country,
Annapurna targets to eliminate barriers and empower and accumulate aspiring souls in the
financial ecosystem.

The trust rested by the customers inspires Annapurna Finance to broaden its scope and
support the aspirations of individuals who have limited access to financial capital. At the
heart of each product and services offered, Annapurna Finance, aims at keeping the client’s
needs at the forefront. Aligning with sustainable development goals, the organization is
steadily striving to meet the agenda of financial inclusion for all. With digital technologies,
it targets at providing quick, on-demand, and hassle-free access to a variety of financial
services and products. By improving thematic areas such as water and sanitation, and
gender-sensitization, Annapurna Finance has been able to achieve milestones to eliminate
barriers and empower aspiring individuals in the financial ecosystem.

As the COVID-19 pandemic prompted a global shift in regular activities, Annapurna Finance
started its operation across India to help the individuals who seek medical assistance. From
employment generation to credit assistance, Annapurna Finance has always taken
initiatives in serving the best to its clients and employees.

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 DECADE AT A GLANCE

1 Re-Branded as Annapurna
Finance
1 
AWARDS
ET Champions of Rural
Market
5000 Employee Base  ET Best BFSI Award
 FICCI-ISC Indian
INR. 4000Cr GLP Sanitization Award
 Skoch Award for Client
1.9mn Clients and Technology Risk

1 Ratings & Grading

 Microfinanza Rating SA+ 1 New vertical
• Client Protection Certification MSME Housing Finance
• CRISIL mfR1
• GIIRS Platinum Rating R

1 Name changed to Annapurna

Microfinance from Mission
1 Annapurna Acquired

NBFC Gwalior FIN

Annapurna and got
and Leasing Co
NBFC-MFIN license

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OUR MISSION

 Empowerment of 2500000Lakh poor women and households for their economic

security by 2025. Bring recognition, legitimacy, respect and opportunity for 150000
micro-enterprises by 2025.

OUR VISION

 Establishment of a self -sustainable and economically empowered rural, tribal & sub-
urban society.

OUR GOALS

 Increase availability of wider range of micro finance services & improve ability of
25,00,000 poor women for efficient use of such services by the year 2025.

Our Legal Entity

 Annapurna Finance Pvt. Ltd. (formerly known as Annapurna Microfinance Pvt Ltd) is
incorporated under the Companies Act, 1956 as a Private Company limited by
Shares; and registered with the Reserve Bank of India (RBI) as Non-Deposit Taking
NBFC-MFI.

Registration No 007872

ROC Code 15

NBFC No B – 04.00027 Dated 6th March, 2013

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 PRODUCT & SERVICES
Microfinance practices of extending loan services are becoming a solution for establishing a level of
resiliency for a better world. Annapurna offers a wide suite of microcredit products to its
beneficiaries, to lend a helping hand to those left out from the purview of financial inclusion.

 SWASTH (Safe Water and Sanitation to Households)

Through the SWASTH Product, the company provides its clients with low cost loans, thus
significantly impacting the growth of water and sanitation assets and infrastructure at household,
community and village levels. The idea of construction of modern toilet in households has paved the
path in conceptualizing this product back in 2014, in association with Water.org. Over the period of
six years, through this product, the company has enabled development of water and sanitation
facilities for 71,000 clients. The Company also regularly conducts various awareness campaigns
regarding importance of clean water and proper sanitation, and how it affects our daily lives. So far
Annapurna has conducted 18,446 Client Awareness Programs, and 10,243 school level awareness
programs with 6,722 rallies in various districts. Annapurna’s staff also inform clients on how to
maintain their toilets and keep it in a running condition. Over 2.5 lakh households have participated
in Sensitization programs where Annapurna’s staffs also explained about maintenance of their
toilets. 924 mason trainings were held, and water testing programs were carried out in 173
districts. In addition to the existing use cases, the Company also started financing for accessible
toilets, making it more accessible for people with mobility issues.

 SAMARTH Loan
SAMARTH loan was ideated as a stepping stone to mitigate marginalization and financial exclusion.
It aims at providing equal financial access and independence to those belonging to the category of
Persons with Disability, single mothers, unmarried women, widowed, transgender and members of
leprosy affected community. Through this product, Annapurna offers a full suite of quality financial
services, in a convenient manner and with dignity, to its clients.

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  Consumer Durable Loan

The company, through the consumer durable loan, grants credit to our clientele to enable them to
possess goods for everyday use. Introduced in 2017, the Company not only aims to cover the
livelihood related financial needs of the clients, but also to enable better lifestyle planning. Several
‘loan melas’ were conducted across the operational states, allowing the clients to choose from
various consumer durable products and buy them. The company has also tied-up with third party
logistic partners, to satisfy the demand for consumer durables. Low-segment housing sector in our
country is under-developed and constrained by, primarily, access to housing finance and fund
mobilization, among other factors. HIL has been instrumental in allowing our clients to extend and
improve their existing houses and also ensure a safe and private space for the entire family.
Through the Home Improvement Loan, clients have been able to build a personal asset, which shall
appreciate over time. Improved housing can also act as a place to produce and store goods, and
conduct business, thus acting like a potential place for work and generating livelihood.

 Home Improvement Loan

Low-segment housing sector in our country is under-developed and constrained by, primarily,
access to housing finance and fund mobilization, among other factors. HIL has been instrumental in
allowing our clients to extend and improve their existing houses and also ensure a safe and private
space for the entire family. Through the Home Improvement Loan, clients have been able to build a
personal asset, which shall appreciate over time. Improved housing can also act as a place to
produce and store goods, and conduct business, thus acting like a potential place for work and
generating livelihood.

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  Dairy Development Loan

Dairy forms an important component of Agri-allied activity in the country. Milch animals are
considered to be a prestigious asset across the country, allowing households to obtain a steady
source of income, in contrast to varying agricultural production. Dairy is considered to be a poverty
alleviation tool due to these reasons. Dairy Development Loan has been operational since 2015. The
company also recognizes the need for supporting infrastructure while adopting an animal, often
requiring additional expenditure, and absence of which proves to be detrimental towards the
health of the animal. Through this loan, the company not only enables the purchase of livestock but
also finances the building of a livestock shed and mitigates risk towards cattle death through cattle
insurance.

 MSME (Micro, Small and Medium Enterprises)

The Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and
dynamic sector of the Indian economy over the last five decades. By fostering entrepreneurship and
generating largest employment opportunities, it contributes significantly in the economic and social
development of the country. Annapurna has reached to more than 14,000 individual entrepreneurs
across 11 states under its MSME loan vertical who has enhanced their business capacity as well as
profit margin by availing business loan from Annapurna. A loan product for micro and small
entrepreneurs was started in the year 2016 as a pilot project with 5 MSME branches in Odisha. Post
successful completion of the pilot, the project was implemented in 6 states with 25 Branches in
January, 2018. Gradually the project has emerged as a larger vertical of Annapurna and now the
project is operating in 107 exclusive MSME Branches with the team size of more than one thousand
in numbers.

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  Quality Assurance Check

Considering the rapid changes happening both in external and consequently internal environments
of financial space, our employees are parallelly equipped with timely trainings to keep them
adaptive, relevant and competitive to the market. Right mix of experienced manpower is hired at
every level to implement the best and innovative practices across industries and hence strengthen
the process further. Focus has always been towards the quality of business, where ea ch of the
customer’s proposals is processed through a detailed credit assessment and cash flow analysis.
Adopting the hub-based disbursement model, quality check of loan documents is executed by the
operation department as well as by the external empaneled agencies before disbursement of the
loans. Regular Refresher Training for field staffs and audit of branches are conducted on a regular
basis to minimize chances of any misappropriations. In order to have better customer experience,
EMI payment call and SMS service has also been implemented.

 Into the Digital World

The organization is looking forward to a digital MSME lending platform for which several initiatives
have been taken in this regard during this FY. Majority of the EMI collection is done through
cashless collection methods like NACH, Online payment, Cheque etc. End to end software-based
customer on-boarding to loan disbursement has been started and various cash less collection
options were also offered to the customers.

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 OBJECTIVES
 To provide financial assistance for economic empowerment.
 To offer tailor made, need based products for catering to every life cycle need of the
clients.
 To form and promote Self Help Groups (SHGs) /Joint Liability Groups (JLGs) of the
Poor, Women, Needy, Oppressed, and to attain improvement in their socio-
economic condition through economic activities.
 To give priority to women and to involve them directly in production activities
through Self-help groups and access to finance, so that the opportunities are created
for additional income.
 To provide technical assistance so that the poor become self-sufficient by
accumulating and creating their own capital through savings from increased income.

SOCIAL OBJECTIVES

 To provide micro loans to those household which are identified as family Below
Poverty Line.
 To cater microfinance services to special category of individuals i.e. Widow,
transgender and Persons with Disability.
 To provide financial assistance to Schedule Castes, Schedule Tribes and to other
minority/backward classes.
 To provide financial assistance for access to safe water & sanitation.

ENVIRONMENTAL OBJECTIVES

 To minimize the environmental impact of our lending.

 To make constant efforts to improve internal standards of environment
management and reduce carbon footprint.
 To provide sustainable, green products through appropriate product design.

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 IMPACT
 SOCIAL PERFORMANCE

Annapurna Finance has its roots in a development focused NGO, with the purpose of
making an impact on people’s lives, and creating sustainable institutions. Hence,
Annapurna Finance understands the importance of social development along with financial
development and for the same reason the organization has social performance
management inculcated in it since its inception. In order to sustain its commitment
towards sustainable growth and impact, the organization has a dedicated Social
Performance Management Department. From the philosophy of practicing responsible
business, Annapurna Finance follows the triple bottom line concept, with focus on
responsible finance, social performance, and environmental impact.

Annapurna Finance conducts its work in socially responsible, ethical and transparent
manner to demonstrate commitment and respect towards all stakeholders including
clients, employees, and their family. Its mission and vision is aligned towards social and
financial development of communities, while being environmentally conscious in its
operational activities. The SPM policy is consistent with the Smart Campaign’s Client
Protection Principles, the Universal Standards for Social Performance Management by the
Social Performance Task Force and Reporting on Social Performance as defined by the
Microfinance Information Exchange. Gender sensitization and mainstreaming has also been
adopted, where besides developing a Gender Policy with the help of the industry experts,
organization has also mandated gender training for all the employees to create a sensitive
workplace. The commitment for a gender friendly workplace is in the culture of the
organization. Annapurna Finance tries to ensure better comfort at office by designing
gender sensitive facilities.

 ENVIRONMENTAL PERFORMANCE

Annapurna Finance’s Environmental Policy is intended for managing environmental and

social risks of its operations. As a microfinance institution, it is committed to comply with
national legislation related to lending by microfinance institutions. It has lending guidelines
which sets standards to limit the impact of its lending operations on the environment. It
implements the guidelines in three levels, namely: management of environmental impact in
lending; internal standards of environment management; and promotion of eco-products.

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Annapurna Finance’s Social Performance Management (SPM) Policy emphasizes
commitment in achieving positive contributions to the society by balancing not only
financial and social returns but also environmental impact. The policy embodies guiding
principles in avoiding potential impacts of lending operations and other interventions to
clients, employees, environment, community, and shareholders. Annapurna Finance has a
specific policy with an objective to avoid, and when avoidance is not possible, to minimize
and mitigate adverse impacts of subprojects on the environment and affected people and
maximize the environmental and social benefits.
Besides the existing policy, Annapurna Finance has taken steps towards supporting better
environmental practices through activities like training school children on environment
through external consultant, and conducting of Anti Plastic awareness sessions for
employees.

 CSR ACTIVITIES

Annapurna Finance’s mission and vision draw a picture of high-level commitment towards
improving the society. Annapurna Finance believes in contributing to economic
development while improving the quality of life of the community and the society at large.

Aama Ghara: A children’s home

Aama Ghara is a child care institute in Bhubaneswar, which was established by People’s
Forum. It is a home to over thirty children. With Annapurna Finance’s funding support, the
institution has been able to provide the children with better accommodation, better
learning and growing experience through proper education and other overall
developmental activities, with an opportunity for a better future. Children from the
institute have been adopted across different states in India and abroad.

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Mobile Medical Unit: Bringing healthcare to the doorstep
The objective of introducing the Mobile Medical Unit is to provide healthcare support to
rural households, primarily to the most vulnerable section like women and children in
remote locations. The mobile medical unit is a well-equipped vehicle that provides village
level consultation from reputed general physicians, pediatricians and gynecologists under
the observation of an experienced pharmacist. These mobile medical units go into the
villages, bringing healthcare virtually at their doorstep. For most people, it saves them from
the long lines at the hospitals, which are situated far from their homes.

Improving Schools: A better learning environment for school children

Children will shape the society of the future generation and Annapurna Finance has
devoted lot of attention to improve the environment of schools, which is the place where
they study and learn. To improve the schools, Annapurna Finance has conducted plantation
activities, while engaging the students and school authorities. Also, Annapurna Finance has
provided UV and offline water filters in several schools where water quality is not fit for
drinking purposes. Annapurna Finance is also planning to install play equipment in schools
for recreational activity of the students.

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 METHODOLOGY
 Research Design

An examination configuration is a structure that has been made to look for answers to
explore questions. It depends on a structure and gives a heading to the examination being
led in the most productive way.

Since this study seeks to identify "Existing Financial Products in Indian MFI industry and
feasibility of those in context of Annapurna Finance" and their perception towards the
products offered byANNAPURNA, thus this research will be conducted based on descriptive
research.

 Sources of Data Collection

Information assortment is a significant part of an examination study. It is a term used to

portray a cycle of getting ready and gathering information from all sources and
perceptions. Information has been gathered from both essential and optional assets.

a) Primary Data: Obtaining first hand by speaking to customers and getting the
questionnaire form filled by them about the insurance products of Ageas Federal and
observing their views, reactions and beliefs about the overall insurance products.

Instrument used: Questionnaire

b) Secondary Data: Secondary information will be gathered through organization sites,

diaries and magazines to discover about the historical backdrop of the associations their
situation on the lookout and their rivals.

Instrument used: company website, report and articles.

 Data Analysis Technique

Investigation will be brought out through with assistance of programming like MS-Excel,
and different decision questions will be utilized in the poll.

 Sampling
Sampling Design: Simple Random Sampling
Sampling Frame: General Public
Time Period: 5 Days
Sample Size: 55

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 LIMITATIONS OF THE REPORT
Due to constraints of time and resources, the study is likely to suffer from certain
limitations.
Some of these are mentioned here under so that the findings of the study may be
understood
in a proper perspective.

The limitations of the study are:

 Some of the respondents of the survey were unwilling to share information. People
refrain from giving personal details.

 The research was carried out in a short period of 8 weeks. Therefore, the sample
size and other parameters were selected accordingly so as to finish the work within
the given time frames.

 The information given by the respondents might be biased because some of them
might not be interested to give correct information.

 The research was confined to online mode.

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PRESENTATION OF THE DATA
ANALYSIS

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CONCLUSION

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 REFERENCES

file:///C:/Users/kiit/Downloads/Annualreport2021-1.pdf

file:///C:/Users/kiit/Downloads/Annual%20Report%202020.pdf

https://www.fao.org/3/a0226e/a0226e07.htm

https://microfinanceinfo.com/microfinance-products/

https://www.slideshare.net/pradeeppk75618/ppt-on-micro-finance

https://www.slideshare.net/riya06/ppt-on-micro-finance-73089140

https://www.bankbazaar.com/personal-loan/microfinance.html

https://en.m.wikipedia.org/wiki/Microfinance

https://annapurnafinance.in/board-committees/

https://www.slideshare.net/sharadsrivastava12/presentation-microfinance-in-india

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