Measuring Our Progress
Institutional Growth:
Mann Deshi now reaches almost 100,000 clients throughout the state of Maharashtra and has increased its client base 10 times since 2003. Mann Deshi has had a profit since 2001 and is the largest microfinance institution in Maharashtra and the second largest microfinance bank in India.
Year |
2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 |
|---|---|---|---|---|---|---|---|
Total Deposits |
$735,813 |
$1,000,061 |
$1,261,491 |
$1,652,526 |
$2,060,706 |
$2,652,921 |
$3,448,000 |
Total Advances |
$528,406 |
$704,675 |
$867,070 |
$1,239,207 |
$1,531,410 |
$1,718,705 |
$2,413,600 |
Clients |
9740 |
11,020 |
24,244 |
48,260 |
58,279 |
81,304 |
98,700 |
Impact Assessments:
Financial Literacy Impact Assessment:
The Mann Deshi Group began implementing the Financial Literacy program in 2007 to improve their clients’ knowledge of savings and loan basics. An impact assessment of the program was carried out from June-August 2009. The primary objectives of the assessment were to determine the quantitative impact of the course on the Bank in terms of savings, loans and repayment rates and to gather qualitative feedback from clients and trainers. The assessment was conducted in two stages and with 150 clients, using both survey interviews and the Bank’s database to compile time series data.
The assessment found that clients who take the Financial Literacy course improve their weekly savings, take out more and bigger loans for more productive purposes, and repay more consistently. More specifically, clients who have completed the Financial Literacy course take out Rs. 3,503.69 ($74.55) more in loans for more income-generating purposes, such as starting a new business, than clients who have not taken the course. They also take out 0.60 more loans and thus are 50.0 percent more likely to be an active loan client. In terms of repayment, former Financial Literacy students miss 0.12 fewer scheduled loan repayments and are 2.4 percent less likely to default than clients who have not taken the course. Finally, clients who took the Financial Literacy course started saving nearly 3 times as much, from an average of Rs. 63 a week before taking the class to an average of Rs. 185 after.