Inspiring life

Social Performance Management

Grameen Koota understands the importance of institutionalized process of translating social mission into practice and therefore have internalized the process with a view to meet the 6 universal standards of social performance management which includes

  1. Defining and Monitoring Social Goals
  2. Ensuring Board, Management and Employee Commitment to Social goals
  3. Treating Clients Responsibly
  4. Designing Products, Services, Delivery Models and Channels based on Client’s Needs and Preferences;
  5. Treating Employees Responsibly; and
  6. Balancing both Financial and Social Performance

We therefore strongly advocate these social performance management standards and have made efforts to incorporate these standards in our structure, policies and functioning in the following manner,

Governance Structure

The Board of Grameen Koota is committed strongly towards social performance and has actively participated in defining the institution’s social mission and goals. Additionally the board also keenly tracks social performance indicators. The board proactively discusses and reviews the institution’s social as well as financial performances. Our mission and vision statements amply demonstrate our sole focus on reaching the poor and low income households to transform their lives with our financial products and development services. We further ensure that our mission and vision statements are emphasized in the orientation and training programmes conducted by the organization for its employees.

Strategies to Enhance Client Welfare

Grameen Koota has adopted several strategies to accomplish its social mission and vision which includes effective client targeting strategy, designing suitable products and services, regular tracking of the progress in the lives of our clients (Progress out of Poverty Index), emphasis on non-financial services including social initiatives.

Fair Practices Code

Grameen Koota believes in transacting with its clients in a fair and transparent manner. We have adopted RBI’s Fair Practices Code as well as MFIN & Sa-Dhan’s Code of Conduct. Furthermore we have formulated our own code of conduct on the basis of RBI and Sa-dhan codes which form the basis of our day-to-day interactions with the clients.

Human Resource Practices

At Grameen Koota, we know that our employees are our brand ambassadors; we therefore ensure that they have the right attitude and values.

Contribution to Microfinance Policy and Practice

Grameen Koota as part of its commitment towards social performance management regularly interacts with regulators, government and other stakeholders to bring about positive policy perspective towards the microfinance sector. We provide regular feedback to the Reserve Bank of India pertaining to its guidelines for MFIs. Additionally through regular interactions with other MFIs in industry forums, we try to ensure that only desirable practices are adopted by all MFIs. As an active member of MFIN, Sa-Dhan and AKMI, we contribute significantly in setting the agenda for discussions and activities at all such forums. We also actively advocate the use of credit bureau by the MFIs which ensures that credit data of most of the clients will be available with the bureau. We also submit data regularly to Microfinance Information Exchange (MIX), MFIN, Sa-Dhan and other stakeholders, wherein such data can be used to derive industry insights and therefore contributes to a coherent microfinance policy.

 
© Copyright 2015 Grameen Koota. All Rights Reserved. A WebSpotLight creation by Netsoft.