ABN Amro Bank's foray into Microfinance in India

ABN Amro bank made a foray into the Microfinance business in India as early as in 2003. The Netherlands-based bank was among the first mainstream multinational banks to enter Microfinance business in India. Other banks such as HSBC and Citibank followed suite. Private Indian banks such as ICICI, HDFC and more recently, the state-owned State Bank of India, have also been actively pursuing Microfinance.

ABN Amro delivers credit to rural women through Microfinance Institutions (MFIs). The bank hosted a workshop on "Electronic banking in microfinance" in April this year and plans to offer electronic banking (e-banking) services to rural customers in remote areas of India, soon. The bank has also been presenting "Microfinance Process Excellence Awards" since 2004, together with PlaNet Finance India. Details can be found at:

http://www.abnamro.co.in/ProductsnServices/MicroFinance/mf.html

It is heartening to see such intiatives from a foreign bank for sustainable development in India. Go ABN Amro!