International Finance Corporation's Financial Awareness project was started in the year 2013 to pilot select financial awareness programs. The goal of this project was to expand the range of financial services available to low income households (from credit to other products like Insurance, Savings, Pensions, Remittances etc.) by increasing the demand for such services. Establishing a sustainable and replicable delivery model for financial awareness, incorporating financial awareness as a strategy amongst Financial Institutions, and empowering low income households through financial awareness training to take informed decisions in selecting financial products were the key interventions of this programme in order to widen the range of financial services.
Sutra Consulting was engaged as a monitoring and evaluation agency to develop and implement one independent Monitoring & Evaluation framework for each of the participating financial institution to monitor implementation of the financial awareness project at each participating Financial Institution. Cost-benefit analysis of the financial awareness program at each participating Financial Institution, considering the cost incurred in delivering the financial awareness program and revenue generated thereof was another significant component of the assignment. In addition, our team was also responsible for evaluating different approaches of delivering financial awareness to assess change in financial position of the client using data captured by the participating Financial Institutions in their MIS. Our work resulted in developing a comprehensive Monitoring & Evaluation framework for the project intervention and helped the project understand cost benefit of the Finance Awareness intervention.
The DFID supported Poorest States Inclusive Growth (PSIG) Programme in India aims to reduce poverty and foster economic growth by expanding access to financial services and promoting pro-poor investments in eight low income states.
Sutra Consulting was engaged to conduct a poverty and social baseline assessment for PSIG Microfinance Institution partners by SIDBI during 2016-17. Our consultants implemented and assessed poverty scorecard consisting of Progress out of Poverty Index (PPI) indicators and other relevant questions for 30 microfinance institutions partners under the PSIG project covering 21,000 households. The goal was to generate data that provided information on the similarities and differences between the state level and Microfinance Institution level benchmarks on poverty outreach.
Our team has provided its critical inputs in administration of poverty scorecard consisting of PPI indicators and other relevant questions for statistically representative sample of microfinance clients for about 30 microfinance institutions- partners under the PSIG project, enabled efficient iteration of the questionnaire, mapped prescribed questionnaire in digital template, traced real time results, contributed in developing poverty focused social performance reports for Micro Finance Institutions.
Karnataka State Livelihood Project, named as Sanjeevini, is being implemented under Department of Rural Development and Panchayati Raj and aimed at improving livelihoods of rural poor and enhancing social and economic empowerment of rural poor especially women. The programme is taking significant initiatives in improving income levels of the rural poor through interrelated components of social, financial and economic inclusion. It aims to form and strengthen community based institutions and improve access to financial and non-financial services.
Sutra Consulting provided process monitoring support to the programme in five focussed districts where our team of advisers were responsible for developing evidence-based design of process monitoring framework and system, designing of multi-stakeholder strategy, developing participatory monitoring systems and tools and developing capacities of the project to monitor and track progress of project outcomes and impacts. Our work in the programme has led to identifying operational and strategic changes needed to undertake midcourse correction for the project and provided inputs to bring institutional sustainability. Our input has helped the programme in building community perception, providing feedback on satisfaction with project services reflecting on inclusion and institutional dynamics.
North East Rural Livelihood Project (NERLP) by the World Bank is implemented in the states of Mizoram, Nagaland, Sikkim and Tripura to assist the rural poor and vulnerable groups, including women, in improving their livelihood. The primary objective of the project is to empower the poor and vulnerable in rural areas directly so that they are able to take advantage of the opportunities for improvement of their livelihoods. The programme which intends to bring the change through social empowerment focuses on empowering rural communities by creating sustainable community institutions, improving inclusiveness and ensuring equity in social and gender norms, Economic Empowerment and Partnership Development.
Sutra Consulting is providing process monitoring support to the programme in two focussed states of intervention, Tripura and Nagaland, where our team of advisers are responsible for developing evidence-based design of process monitoring framework and system, design of multi-stakeholder strategy, developing participatory monitoring systems and tools and developing capacities of the project to monitor and track progress of project outcomes and impacts. Our work in the programme has led to identification of operational and strategic changes needed to undertake midcourse correction for the project and provide inputs to bring institutional sustainability.