Small Finance Banks
Author: Raghuram Rajan, chairman of the government committee on financial reforms
(This story appears in the 19 November, 2010 issue of Forbes India. To visit our Archives, click here.)
Why not use challenge offers to encourage community initiatives along these lines? Land trusts could be established to sustainably endow the local microfinance systems and the Financial Access at Birth initiative, as a first step. Added resources could be included in the upfront challenge offers (e.g. microstipends to expand access to eHealthcare and language learning) to the degree that real reforms were provided to increase transparency in land titling, dispute resolution, and eGovernment systems. These reforms could have the effect of awakening the value of sites committed to the community's land trust endowments, and of creating substantial lease revenue flows for the benefit of local microfinance and financial inclusion trusts (on the success-sharing model of Hong Kong, Singapore, and some Special Economic Zone leasing.) Practical systems for awakening land values for community uplift are outlined in downloadable materials at www.openworld.com. Best, Mark Frazier Openworld
on Nov 17, 2010