Compared to the previous census in 2001, order the 2011 census revealed that 58.7% households in the country avail banking services. Since 2005, viagra the number of branches of Scheduled Commercial Banks increased manifold from 68,681 in March 2006 to 1,02,343 in March 2013. Total number of banking outlets in villages increased from 67,694 in March 2010 to 2,68,454 in March 2013. During the same period, banking outlets through BCs increased from 34,174 to 2,21,341. Thanks to the focus on financial inclusion, by emphasizing on rural growth. But even these efforts could not help in attaining the vision of financial inclusion in its true sense.
Ultra Poor Programs (UPP) is an innovation by MFIs focusing on financial inclusion. It relies on rehabilitation of the ultra poor through a gradual process based on integrated services. The skills of the poor are sharpened through skill trainings and financial literacy programs. The significance of the programs also lies in the fact that many social welfare programs are not much effective in reaching the intended audiences. Of late, many successful MFIs have taken initiatives to launch UPP programs themselves without any outside support.
ESAF believes in integrated development of the Bottom of the Pyramid segment. The Jharkhand state in which we are implementing the UPP model has 26.2% of tribal population covering Santhal, Malto and Mahali tribes. Since 2007, ESAF is partnering with Govt and Non-Govt agencies to implement various programs like tribal SHG formation, financial literacy, skill development, market access, health awareness and educational programs. Six years of intervention has equipped them to avail loans from microfinance. The program is arranged on a monthly repayment basis and will be reviewed every four months. The beneficiaries are likely to be migrated to the normal microfinance program from the fourth cycle. Although implemen-tation of the program comes at a price, the vision of the Organization drives us forward and gives us the strength to launch such highly responsible initiatives.