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MoU with MicroSave

MicroSave and Kshetriya Gramin Financial Services (KGFS) promoted by IFMR Trust have entered into an agreement to conduct collaborative action-research aimed at promoting market-led financial solutions.

According to a memorandum of understanding (MoU) signed on August 12, 2008, by SG Anil Kumar, Chief Executive Officer, KGFS, and Graham Wright, Programme Director, MicroSave, the focus of the collaboration will include strategic business planning, strategic marketing, market research for microfinance, costing of financial services, pilot tests, institutional and product risk analysis, product marketing strategy, process mapping, customer services, branding and individual lending for front-line staff and managers.

Said Anil Kumar, "Given MicroSave's expertise in training and exposure to the best practices in microfinance across the world, we expect this partnership to go a long way in fulfilling KGFS's objective of structuring innovative products and services that can be delivered to the rural markets across the country."

Graham Wright said that MicroSave was "delighted to work alongside IFMR Trust and KGFS to pursue our common goal of delivering market-led financial services to the unbanked." MicroSave's experience in putting the client at the centre of microfinance businesses will "add significant value to KGFS as we work together on product development, testing and rollout," he added.

MicroSave promotes the development of savings and client-responsive financial services among microfinance institutions (MFIs) by combining field-level research regarding the financial service needs and preferences of the poor, action research working with microfinance institutions (MFIs), curriculum development, and information dissemination. For more information please visit www.microsave.org

For information on KGFS click here

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