Money & Banking

ESAF Bank hosts global alliance meet on knowledge sharing in Kochi

Our Bureau Kochi | Updated on September 06, 2019 Published on September 06, 2019

ESAF Small Finance Bank Limited hosted the Asia-Pacific Chapter meet of GABV — Global Alliance for Banking on Values here.

Knowledge sharing on advanced financial inclusion using Artificial Intelligence and Machine Learning, and Carbon Accounting were also a part of the two-day meet.

The meeting also witnessed the enrolment of two new members from the APAC region to GABV — NMB Bank Nepal and Dai-Ichi, Japan.

GABV is a network of sustainable banks that includes credit unions, community banks and microfinance banks from around the world, which work towards the goal of touching one billion lives by 2020, through sustainable banking. It has set out to prove that sustainable banking provides an important alternative model for financial services.

Currently, the organisation comprises of 58 banks operating in countries across Asia, Africa, Australia, South and North America and Europe. Collectively it serves more than 41 million customers.

K Paul Thomas, MD and CEO, ESAF, said, “Through this initiative, we believe that we are helping them to become more productive and sustainable and we are trying to innovate value-based business models that would proactively use finance for the larger good of the society.” He added, “We believe that the GABV membership gave us an added impetus in our approach towards inclusiveness and sustainable banking”.

Marcos Eguiguren, Executive Director of GABV, stated that “GABV is focusing on a shared mission — to use finance to deliver sustainable economic, social and environmental development and to help individuals fulfil their potential, which would eventually help them in building stronger communities.”

The delegates also visited some women’s groups at Njarakkal to learn more about the joint liability group lending practice followed by ESAF. So far, ESAF has successfully brought approximately over 30 lakh women into the financial inclusion space across 15 states in India.

Published on September 06, 2019

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.