All MFIs operating in Hubli in North Karnataka came together to conduct a financial literacy awareness program for MFI customers. The function was held under the aegis of AKMI (Association of Karnataka Microfinance Institutions), which also launched its Customer Grievance Cell for MFI customers in Hubli.

The customer connect function was inaugurated by Dr. K. Ramachandra Rao, Police Commissioner, Hubli-Dharwad. He also formally launched the opening of AKMI’s Customer Grievance Redressal Cell in Hubli.

In his address to the customers, Dr.Rao emphasised that one must approach legalised institutions and not money lenders to borrow for one’s needs and customers must also understand their own repayment capacity before availing of a loan. He said that MFIs on their part, should also refrain from providing loans unnecessarily.

Any customer of any MFI can approach the AKMI Customer Grievances Redressal cell with their complaints related to MFI staff misbehaviour, charging of interest higher than stipulated rate or any unreasonable delay or denial of microcredit.

Over 800 customers of MFIs operating in Hubli attended the function. Customers also participated in a panel discussion on their experience with MFIs, provided feedback on microfinance services and voiced their grievances and expectations.

Staff from MFIs also presented a short skit which had the message of responsible borrowing and avoiding the dangers of malpractices such as over borrowing and ghost lending. It was an interactive skit with participation of the customers present.

Chief Guests at the function included Mr.Y N Mahadevaiah, AGM-NABARD, and Mr. G S Basavarajappa, District Lead Bank Manager.

Mr.Vivekanand Salimath, Chairman-AKMI and Managing Trustee, IDF Financial Services, Mr.Suresh Krishna, CEO-Grameen Koota, and Ms.Carol Furtado, COO-Ujjivan, were