Microfinance refers to the provision of financial services to low-income clients- traditionally considered not to be “credit-worthy”. Microfinance has reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust, accountability, participation and creativity. In this system credit is a cost effective weapon to fight poverty and it serves as a catalyst in the overall development of socio-economic conditions of the poor who have been kept outside the banking orbit on the ground that they are poor and hence not bankable. Whether in terms of addressing the problems of malnutrition and disease, flight from rural to urban areas in search of work, environmental degradation or the breakdown of families and communities, programs that provide small-scale loans and economic training to resource-poor people are one of the brightest spots in the new development paradigm.

In the search for practical measures to alleviate poverty and its debilitating impact on humanity and the planet, the microfinance movement offers a set of powerful tools in the service of social and economic development. The program provides interns with an in-depth understanding of microfinance and allows them to contribute/learn based on their specific subject and expertise. The internship provides a 4-week placement in one or many microfinance institutions based in Mumbai. Activities will include field trips, market research, data collection, documentation and observation.

• Participate in Group meetings (client meetings) towards gaining better understanding of issues in urban poverty and access to credit. Meetings with microfinance ground level staff and management.
• Understanding of microfinance principles, process and methodology
• Implementation of microfinance as a tool to alleviate urban poverty
• Conduct Market research (microfinance requirements), product designing
• Case documentation (written, audio and video documentation)
• IT systems (including website improvement)
• Establishing MIS,
• HR , Capacity building (for ground level staff and new staff)
• Interaction with bankers working in Microfinance.

Mumbai is India's commercial capital. With a population of nearly 13 million, Mumbai's most affluent inhabitants live alongside the working classes and urban poor in soaring skyscrapers and sprawling slums. Mumbai is a melting pot of residents from diverse ethnic backgrounds that speak over a dozen languages.

Mumbai is an international city with many attractions. Mumbai also has a vibrant nightlife that ranges from simple pubs to hi-tech discos and glamorous nightclubs. Its location is convenient for short weekend trips to many beaches and resorts in India including Goa.

Microfinance can be an exciting and powerful tool for social transformation but the implementation can often be arduous and participants must be willing to work hard and adapt to different surroundings and work environments.