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BASIX strategy is to provide a comprehensive set of livelihood promotion services which inlcude Financial Inclusion Services (FINS), Agricultural / Business Development Services (Ag/BDS) and Institutional Development Services (IDS) to rural poor households under one umbrella.
The BASIX Livelihood Triad includes the following services.
The rationale behind the Livelihood Triad strategy is as follows: Micro-credit by itself is helpful for the more enterprising poor people in economically dynamic areas. Less enterprising poor households need to start with savings and insurance before they can benefit from micro-credit, because they need to cope with risk. However, in backward regions, poor people, in addition to microfinance, need a whole range of Agricultural/ Business Development Services (productivity enhancement, risk mitigation, local value addition, and market linkages) need to be provided. To offer these services in a cost-effective manner, it is not possible to work with poor households individually and they need to be organized into groups, informal associations and sometimes cooperatives or producer companies. The formation of such groups and making them function effectively, requires institutional development services. Hence, BASIX adopted the Livelihood Triad strategy.