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Kolkata, 7 August 2024: Association of Microfinance Institutions – West Bengal (AMFI-WB), a State Level Federation of Microfinance Institutions in West Bengal, organized the State Lenders’ Meet for Microfinance Industry in Kolkata on Wednesday.

 

The Bankers Meet was a great forum to discuss partnerships, tie-up and discuss on the opportunities that have opened-up through newer regulations, digital technology, newer models of funding for financial inclusion. Besides highlighting the services of the Microfinance and Banking sector, the conference also created awareness about the industry and its stakeholders through discussions at the Lenders’ meet.

 

Mr. Jiji Mammen, ED, Sa-Dhan, Ms. Usha Ramesh, CGM, NABARD along with representatives and members of AMFI-WB were present at the conference. The GM and DGM of SIDBI also were present in the Meet. The Chairman, MFIN and Chairperson, AMFI-WB also will join the session.

 

The participant Banks for the Lenders’ Meet included: IDBI Bank, Indian Overseas Bank, DCB Bank, SBM Bank, Central Bank of India, Bank of India, Bank of Maharashtra, Canara Bank, Union Bank of India, Punjab & Sind Bank, City Union Bank, AU Small Finance Bank, Bank of Baroda, UCO Bank, Union Bank of India, State Bank of India, Bangiya Gramin Vikash Bank, Bandhan Bank, Ujjivan Small Finance Bank, among others.

 

Microfinance Sector has always been at the forefront of promoting inclusive growth through microfinance focusing on the underserved, mainly women, ensuring positive change in their economic status as also improving their quality of life through income enhancement and other socially relevant interventions. Thereby, the sector has an important role in supporting and building the unorganized sector, creating employment opportunities and contributing significantly to the nation’s GDP.

 

Since the focus is majorly on funding women, it also plays an important role in women empowerment. Microfinance also champions gender equality by providing women with access to financial services. As a catalyst for change, microfinance intertwines financial empowerment with social empowerment, paving the way towards a more inclusive and sustainable future.

 

Microfinance sector has been playing a significant role since pandemic in supporting the base of the pyramid to bring back normalization. This has been through restructuring of loans, relief on interest and principle. The sector continued to provide funding support to rehabilitate their business and bring them back to normalization.

 

The sector has also displayed its strong resilience and continued to honour payment commitments to all its stakeholders, despite serious headwinds post pandemic. The Government and Regulators, during and post-pandemic, created an enabling environment through various positive policy interventions that includes RBI’s revised regulatory framework, Government Guaranteed funding, interest subvention making the sector stronger.

 

With the present collections and portfolio quality reaching normal levels, the sector is now focusing on responsible growth. The sector’s demand for funding too increasing as the clients served are looking for business growth and thereby further microcredit. With RBI allowing newer avenues/models of funding, besides the existing BC partnership model, the Co-Lending model, newer opportunities for Bank/Microfinance entities have opened-up. This is besides the Lending, securitization and all other existing funding models.

 

The Association of Micro Finance Institutions – West Bengal (AMFI – WB) is an institution which endeavors to promote and develop microfinance in the state of West Bengal. It was formed to deliver better services to the poor, thereby helping these populations improve their standards of living. The mission of AMFI-WB is to build a fair and congenial environment for community development financing in West Bengal helping members to serve their target clients, particularly women from financially underserved families in pursuit of sustainable livelihood, both in rural and urban area. AMFI – WB currently caters to around 79 lakh poor women by providing them with financial services, especially micro credit. With a membership of over 48 Micro Finance Institutions, Banks, Fintechs, Insurances, Health Service Providers, and Software Companies etc., approximately 33000 employees hail from lower economic background. AMFI-WB regularly conducts stakeholder meets at the district level, management development programs for its members, microfinance industry-related seminars & workshops, and member meetings on matters of mutual interest.

 

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TANISHQ PRESENTS ‘KONKONKOTHA’—BENGAL’S TIMELESS TALES OF BANGLES

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A stunning bangle collection inspired by Bengal’s rich art and beautiful textiles, crafted for auspicious occasions & weddings

Kolkata, 12th April 2025: As the festive season brings with it moments of hope, prosperity, and new beginnings, Bengal celebrates Poila Boishakh and Akshaya Tritiya with deep cultural pride. Embracing this spirit, Tanishq—India’s largest jewellery retail brand from the house of TATA introduces KonkonKotha, an exclusive festive and wedding bangle collection. Deeply rooted in Bengali culture, the collection pays tribute to the timeless significance of bangles as emblems of identity, emotion, and tradition. As we approach the season of summer weddings, it is a must-have for brides-to-be and everyone cherishing the joy of love and heritage. This collection weaves together intricate detailing, timeless appeal, and artistry. Unveiled by celebrated actress Ms. Mimi Chakraborty at Taj Bengal, Kolkata, KonkonKotha brings alive the soul of the season through its masterful craftsmanship.

This stunning collection draws inspiration from Bengal’s rich cultural heritage, seamlessly blending art, tradition, and timeless elegance. Each piece is a tribute to the region’s deep-rooted customs, incorporating Alpana motifs that symbolize purity and auspiciousness—echoing the sacredness of Bengali rituals, weddings, and festivals. Showcasing a stunning array of bangles, each piece is a testament to skilled craftsmanship. The collection includes a diverse range of gold bangles, such as Kankan—representing marital bliss and prosperity, Loha—a symbol of strength, durability, and protection, signifying resilience, Bala—embodying grandeur and Chur—representing beauty, grace, and the joyous rhythm of life, completing a Bengali woman’s ensemble with finesse.

The designs pay homage to the grace of Bengal’s iconic handlooms, revered since the times of the Arthashastra, and the finesse of intricate Meenakari enamelwork. Textile influences like Jamdani’s delicate floral and paisley patterns, along with the signature motifs of Tant sarees such as the half-moon and protective amulet and the regional print of Batik are beautifully reimagined in each bangle. With every design, the collection effortlessly captures the spirit of Bengal’s artistic legacy, thoughtfully crafted for the modern wearer.

Speaking on the launch, Mr. Somprabh Singh, Regional Business Head, Titan Company Ltd., said, “KonkonKotha is a celebration of Bengal’s deep-rooted traditions and evolving aspirations. At Tanishq, we have always cherished our special bond with the people of Bengal, and with this collection, we continue our commitment to offering jewellery that reflects the region’s rich cultural significance while embracing contemporary elegance. Each bangle in KonkonKotha is more than just an ornament—it embodies cherished memories, enduring bonds, and the artistry of Bengali craftsmanship. As families come together to mark new beginnings, be it Poila Boishakh or the sacred vows of a wedding, these exquisitely crafted bangles stand as a symbol of love, prosperity, and cultural pride. With this collection, Tanishq takes pride in preserving heritage while crafting a legacy that resonates for generations.”

Speaking on the launch, Ms. Mimi Chakraborty, celebrated Bengali actress, said, “The KonkonKotha collection is a stunning celebration of Bengal’s rich art and timeless textiles. This intricately crafted collection celebrates the artistic heritage of Bengal — a heartfelt tribute from our master craftsmen to all the Aishanis of Bengal. Having been a part of Tanishq’s journey over the years, it’s always a joy to witness how each new collection brings alive the soul of Bengal with an amalgamation of traditional yet contemporary design. What makes this collection truly special is its versatility — the bangles can be paired just as beautifully with a traditional saree as they can be with an indo-western attire, making them perfect for the women of today.”

With KonkonKotha, Tanishq celebrates the rich traditions of Bengal, where each bangle reflects timeless craftsmanship and cultural stories with modern elegance. The Collection is now available across all Tanishq stores in West Bengal, Agartala and Silchar. Brides and their families can explore the intricately crafted bangles and experience the artistry that beautifully blends Bengal’s cultural richness with Tanishq’s legacy of craftsmanship.

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