‘BISWA’ held its policy advisory meeting and State Level Consultation on Social Finance for Sustainable Human Development in Odisha at Bhubaneswar on 15th February to discuss the vital issues of the organization and the proposed ‘BISWA Bank of Odisha’. All the members of the policy advisory board including Padmashree Dillip Tirkey were present and shared their valuable views on the matter. The meeting began with key note address by Mr Prafulla Kumar Dhal.
Mr Dhal stressed the need for BISWA Bank of Odisha in the current Micro Finance scenario in the country and after the Malegam committee report.  He presented a view of ‘BISWA’s initiative in linking micro finance with sanitation, health, education, enterprise development, social security and marketing to bring out a working model to solve the very purpose of holistic development through integrated approach. 

To begin with, Dr Bhagawan Prakash said: “We are toeing with the idea of ‘BISWA’ entering into banking sector. Biju Patnaik saw the dream of Kalinga Bank and ‘BISWA’ is going to translate this dream to reality.”  He further said that the very purpose behind nationalising the Banks in the 1970s had been totally defeated as because 90 percent resources of these banks are channelized to the rich people and the industrialists; whereas only six to seven percent of the total resources go to farmers.  Such reluctant attitude of the banks gave birth to Micro Finance (MF), he said. 

But now we discovered that MF is also not free from mistakes and even political interference.  So we feel the necessity of a discussion how to include those deprived people in banking sector. But the fact is that Indian banks are with the rich people mostly.  Muhammad Yunus of Bangladesh proved that poor people are also bankable.  Further poor women are more bankable than the male.  “We have been doing all these through MFI since last 25 years with fair amount of success, and our own bank will sure to take us ahead,” he said. 
In his address Dr. K. C. Malick chairman ‘BISWA’ gave his deliberation on- “BISWA Bank of Odisha: A Strategy for Social Financing for the Poors in Odisha”.  He explained that the sector was going through totally a new scenario.  First MF operation started in India by NABARD in 1992.  After getting success in many places, now the survival of the sector is questioned due to structural changes.  No political party is in favour of the MFI. The interference of the politicians affects the sector immensely.  But it is a good sign that Malegam committee report is in favour of Micro Finance. ‘BISWA’ is one of the largest institutions in the county in MF sector.  To become more successful, we are going through SHG model and collection is made in group meetings instead of houses of the clients, he informed. 
“But we feel that 19 percent (REDUCING) interest charged by us, though the lowest in the country, is still higher. Hence rate of interest needs to be reduced further,” Dr Malick added. Through our own network in the country we can establish ‘BISWA’ Bank and provide banking at the doorstep to the poor people at lower rate of interest, he added. Dr Malick further said that we have to scale up efforts and resources to build capabilities. He also showed the road map of ‘BISWA’ to the participants.  He further narrated how a poor lady could be a stakeholder in a Bank that happened never before.  “This is not a banking model but a social model,” Dr. Malick clarified.
Dr Malick further informed that the organisation has presence in 28, 000 villages in Orissa and we will try to expand it to all the 51,551 villages.  He said how one activity can generate many enterprises.  If you make toilets, indirectly it will help in brick making. 
Prof. Radhamohan renowned environmentalist and former RTI Commissioner Odisha shared his experience as a lecturer in Baripada College and his initiative to help a farmer in getting bank loan for purchasing a pump set.   But the concerned Bank Manager, then, told him to ask for Indira Gandhi for a loan since she nationalised the banks. He further lamented that this practice is continuing as on today. Hence ‘BISWA Bank of Odisha’ will be a solution for such negative mindset.  
Mr A.V. Swamy former Member State Planning Board Government of Odisha praised this concept of BISWA’s social finance. He opined that banks are now for specific activities only.  But ‘BISWA bank of Odisha’ will work for social finance with low rate of interest that is going to open a new era in banking industry.  He cited an example of Ghaislet Block where the 1st SHG was formed 40 years back. 
Prof. M. C. Dash former Vice Chancellor of Sambalpur University warned that achievement in the level of establishment is easy but maintenance is difficult for sustainability. Since 85 % of people of Odisha live in villages, BISWA must translate its slogan to action for these poor people.  He appealed participants to remain vigilant on it so that this bank also does not fail like other Nationalised Banks. 
Mr. H. P. Mishra former Chairman IPICOL, Mr Nageswar Patnaik Correspondent Economics Times, Mr Kapil Kaul country director Help Age India, Prof. Benudhar Bhunya Agri Business School Utkal University, Prof S. P. Das XIMB Bhubaneswar, Mr Nagendra Acharya consultant, Dr. S. C. Pujari HoD Sociology Aeronautic College Sunabeda, Mr B. C. Padhee retd chief engineer, Dr. B. P. Dash retd chief engineer Mr. Biranchi Narayan Mishra retd additional secretary Tourism and Mr S. N. Patra Odisha Environment Society narrated the dream to promote a bank for poor people to be highly laudable.  “Lot of sportive efforts are required to make it successful.  No charity but enabling the poor people for banking habits will be of immense benefit for them,” all the speakers opined. Mr. Mishra criticised the closed mind of the industries in Odisha who never encourage developing entrepreneurship culture.   

To conclude, the chairperson of the session Mr. Vivek Patnaik said: “We are concerned for the poor, underprivileged, downtrodden who have no access to financial services.  Money lending has been going for years.  But ‘BISWA’ now wants to give it a new shape with pro-poor approach.”  He further said that Andhra experiment is no experiment; rather it is a knee-jerk experience.
He further suggested that RBI alone can take the responsibility of brining out details of UNCLAIMED MONEY lying with Nationalised Banks and divert this huge fund towards Micro Finance sector. Not only the session was brainstorming but a prolific one from realistic point of view.
Dr. Jharana Mishra chief manager RDC, at the end, proposed the vote of thanks to the participants.