Grameen Koota has been honored by Smart Campaign as having met all the client protection principles. Smart Campaign is the globally recognized, independent, third party evaluation that publicly recognizes financial institutions that meet adequate standards of care in how they treat their clients. The Campaign enables financial institutions to demonstrate adherence to the microfinance industry’s client protection principles. Grameen Koota is one of the 6 financial institutions in world and one of the 3 MFI’s in India to have been bestowed with this honor. The Smart Campaign set of principles based on which the microfinance institutions are gauged include appropriate product design and delivery, prevention of over-indebtedness, transparency, responsible pricing, fair and respectful treatment of clients, privacy of client data and mechanisms for complaint resolution.
The campaign aims to creating a more stable microfinance industry by way of encouraging practices that aim to ensure prudent, transparent and respectful treatment of clients. The Client Protection Certification Program contains a rigorous set of standards against which institutions are evaluated by certifiers licensed by the Smart Campaign. The certifiers—Planet Rating, M-CRIL, MicroFinanza Rating and MicroRate – are established, specialized microfinance rating agencies with deep experience analysing hundreds of institutions.
The Client Protection Certification awarded by Smart Campaign in 2013 came up for customary review after two years and M-Cril in its check-in found Grameen Koota compliant with the principles and upheld the sameCertification. It said Grameen Koota “continues to fully adhere to the Smart Campaign Client Protection Principles (CPP)” and renewed the validity of Client Protection Certification by two more years in 2015.
Grameen Koota Honoured with Microfinance India 2015 Award
Dec. 8, 2015: Grameen Koota was honoured with the industry’s top award as the “Microfinance Organization of the Year (Large) 2015” at the 7th edition of the Microfinance India Awards, during the Inclusive Finance India Summit on December 8, 2015. Instituted by ACCESS Development Services with support from HSBC, the award carries a cash prize of Rs.100,000 and a citation.
Receiving the prestigious award, Grameen Koota Managing Director and CEO Mr. Udaya Kumar said: “All these are possible only with strong and continuous support from our customers and employees, especially those who serve at the field every day. And an unstinted support from our Board of Directors, Management Team, Lenders and Regulators helped us in shaping Grameen Koota. It is a matter of great pride that our commitment to customers and our commitment to financial inclusion is being recognised.”