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Social Performance of Microfinance Institutions in India:Developing an Impact Index Based on Firm Variables


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1 Finance and Accounting, Indian Institute of Management Lucknow, Prabandh Nagar, Off Sitapur Road, Lucknow 226013, Uttar Pradesh, India
     

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Microfinance Institutions and their programs have been increasingly heralded as instruments of financial inclusion. This paper attempts to create a comprehensible multi-dimensional index on social impact (SII), which will give the stakeholders a good picture of the social performance of the MFIs in the country. The paper uses two methodologies, the HDI based methodology, and the Distance Based Approach, to capture the dimensions of social impact as a single number lying between zero and one, with zero denoting no impact and one denoting complete attainment. The study also makes a comparison between the results of the two dimensions and finds the Distance Based Approach to be more suitable.

Keywords

Microfinance, Inclusion, Index, India, Social Impact.
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  • Social Performance of Microfinance Institutions in India:Developing an Impact Index Based on Firm Variables

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Authors

Parvathi Ganesh
Finance and Accounting, Indian Institute of Management Lucknow, Prabandh Nagar, Off Sitapur Road, Lucknow 226013, Uttar Pradesh, India
Prakash Singh
Finance and Accounting, Indian Institute of Management Lucknow, Prabandh Nagar, Off Sitapur Road, Lucknow 226013, Uttar Pradesh, India

Abstract


Microfinance Institutions and their programs have been increasingly heralded as instruments of financial inclusion. This paper attempts to create a comprehensible multi-dimensional index on social impact (SII), which will give the stakeholders a good picture of the social performance of the MFIs in the country. The paper uses two methodologies, the HDI based methodology, and the Distance Based Approach, to capture the dimensions of social impact as a single number lying between zero and one, with zero denoting no impact and one denoting complete attainment. The study also makes a comparison between the results of the two dimensions and finds the Distance Based Approach to be more suitable.

Keywords


Microfinance, Inclusion, Index, India, Social Impact.