THRISSUR: The foundation set up by computer giant Bill Gates and his wife Melinda Gates are in the process of finalising microfinance projects in India through the medium of chitty companies.
In connection with the proposed projects, a three-member team of experts headed by Antinette Scholar, Professor of Finance, Massechutsetts Institute of Technology, Mudit Kapoor, Indian School of Business, Hyderabad and Preethi Rao, researting the products was taken.
He said that initially, the foundations were planning to introduce micro financing pcher, visited Thrissur on Friday.
The main objective of the team's visit was to study in detail the functioning of the micro financing system of chitty companies and the spread and reach of the system in rural areas in the state.
The team visited half-a-dozen well established chitty companies here and had held discussions with their managements.
Talking to this website's Newspaper, Chartered Accountant and Financial Adviser to All India Chitty Foremen's Association, Cheeran Varghese, who is the main contact of the team in Kerala, said that the microfinance products proposed to be introduced in the country by these foundations aimed at empowerment of women and unemployed in rural areas in the country.
He said that the foundations were yet to finalise the products. However, a decision with regard to engaging the services of chitty companies for products on a pilot scheme basis with an investment of Rs 60 crore.
He said that that before launching the scheme, a team of experts from the Foundations will be visiting India and Thrissur in February.