India's best micro finance companies to rely on..

2021
VOL.-02
ISSUE-03
Microfinance
Insights
Overview of the
Indian Microfinance
Sector
Financing
Entrepreneurship
How Microfinance
Sector in India
is Helping Young
Entrepreneurs?
INDIA'S BEST
MICRO
FINANCE
COMPANIES TO RELY ON
A Renowned Name in the Indian BFSI Domain
Vivek Tiwari
MD, CEO & CIO

Editor’s Note
hat holds you back from achieving your goals is
Woften poor finances. Without proper finance,
you can’t take your plans into action, grow your
business or start a new one. And when a huge group faces a
financial crisis holding them back from coming out of a
poverty line it affects the nation’s economy as a whole.
What would be your action in such a case? When you lack
finances to achieve your goals, you opt for a loan from
financial institutions.
Post-independence when India was fighting a huge battle
with poverty, Microfinancing in the 1980s brought a ray of
hope to empower the citizens below the poverty line. Self-
Employed Women’s Association (SEWA) in Gujarat
became the first initiative in the microfinance sector which
formed SEWA bank in 1974. Since its inception, the bank
has been helping women and small business owners on
rural grounds by providing credit to help grow their
businesses.
Since then, individuals and families in rural and urban India
have been taking the benefit of small loans to provide the
necessary support to grow their businesses and support
families. The major USP that sets the Microfinance
Institutions (MFIs) apart from formal financial institutions
is accessibility. MFIs provide loans to the low-income
fraction helping them establish better financial stability and
help small-scale businesses flourish.
In a country with a 1.3 billion population where one-third
population relies on the agriculture sector and related jobs,
SILVER LINING
OF THE
MICROFINANCE
SECTOR
“Your problem is to bridge the gap which exists
between where you are now and the goal you
intend to reach.” – Earl Nightingale, American
author, and radio speaker.

the microfinance sector has been among the game-changers
to strengthen the Indian economy. To those who face
difficulty in accessing formal financial banking services,
Microfinance Institutions (MFIs) in India have been a major
financial help to bridge the gap between their needs and
savings.
So, what is the current scenario of the microfinance sector?
How has it survived the recent crisis when some of the
major financial institutes had to fold as an aftereffect of the
COVID-19 pandemic? The answer recites in the bottom
line of the pyramid – microfinance consumers who by being
consistent with the loan repayments have formed a strong
backbone of the microfinance sector.
The government has also played its part by running poverty
alleviation programs from time to time. The microfinance
sector, as we see it today, is going strong by extending its
loan disbursement services to more rural parts of India.
Today, MFIs are providing financial support to small-scale
businesses as well as the self-employed who do not have
convenient access to major financial and banking services.
All the micro-financial institutes today either run as NGOs
registered under trusts or societies or as Non-financial
Banking Companies. (NBFCs).
Despite the impressive growth Microfinance institutes face
major challenges such as financial illiteracy, the major
section still being unbanked, insufficient funds, and high-
interest rate.
However, amid all the challenges and just waking from the
COVID-19 crisis the best microfinance companies are
playing a key role in finding a silver lining of the
microfinance sector in India.
The latest issue of Insights Success, “India's Best Micro
Finance Companies to Rely On” feature a few of the
flourishing microfinance companies that not only help the
consumers survive but have been empathetic and strong
support throughout the pandemic to their consumers when
the panic of losing income and missing loan repayment
deadlines was high.
This issue will highlight some of the major names in the
microfinance sector who are marching towards financial
inclusivity with their allied financial services and extended
loan disbursement to the poor and unemployed. So just sit
back and relax while flipping through the pages of this
latest issue of Insights Success. You might stumble across
some of the articles created by our in-house writers.
Read away!
Darshan Parmar
Managing Editor
DarsHP
darshan@insightssuccess.com

Eduvanz Financing
Empowering Learners with
Innovative Education Loans
Inditrade Capital Ltd
Empowering Lives through
Impeccable Finance Solutions
UPMA
Uplifting Rural and Semi-urban
Localities by Enabling Microﬁnance
Satin Creditcare
Driving Financial Inclusion
Financial Planning Insights
Major Factors of Financial Planning
for Business and Personal Growth
28
CXO
24
18
36
40
Microﬁnance Exclusive

COVER
STORY
CO
NT
EN
TS
Articles 22
Financing Entrepreneurship
How is the Microﬁnancing Sector
in India Helping
Young Entrepreneurs?
32
Microﬁnance Insights
Overview of the Indian
Micro Finance Sector
SATYA
MicroCapital
Ltd
A Renowned Name in the
Indian BFSI Domain
10

Management Brief
Company Name
Inditrade Capital Ltd
Kadambelil Paul
Thomas
Managing Director
and CEO
Satya Microcapital Ltd
Rakesh Kumar
CEO
Asirvad Microfinance
Limited
ESAF Microfinance and
Investments (P) Ltd
Satin Creditcare
Eduvanz Financing
Private Limited
Ujjivan FinancialServices
Pvt Ltd
Asirvad Microfinance Limited is an NBFC promoted by IIT &
IIM alumni Mr. S V Raja Vaidyanathan and his family since
2007.
Eduvanz financially empowers learners with innovative education
loans.
ESAF Small Finance Bank (ESAF SFB) the new age social bank
continues to redefine the banking experience to all the
stakeholders.
Inditrade Capital, is a digitally-driven lender that seeks to
leverage technology to serve the financially under-served and
marginalized.
Light Microfinance is a Non-Banking Finance Company
registered with the Reserve Bank Of India.
Satin Creditcare offers a diversified suite of products to serve the
under-privileged segments of the society.
Satya Microcapital offers microloans from 10k to 200k rupees to
the unbanked and underserved section of the society at the
bottom of the pyramid in the rural and the marginalized belt of
the country.
Ujjivan Small Finance Bank (USFB) Limited is among the
leading small finance banks in the country.
Light Microfinance
HP Singh
Managing Director
Nitin Chugh
CEO and Managing
Director
Vivek Tiwari
Managing Director
UPMA
UPMA is the association of Microfinance Institutions operating
in the State of Uttar Pradesh.
Sudhir Sinha
Project Manager
V P Nandakumar
Managing Director
and CEO
Varun Chopra
Founder and CEO
Sudip
Bandyopadhyay
Chairman
FINANCECompanies
TO RELY ON
INDIA'S
BEST
MICRO

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Editor-in-Chief Sumita Sarkar
Managing Editor Darshan Parmar
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FEBRUARY, 2021
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A Renowned Name in the Indian BFSI Domain
COVER STORY
Our vision is to
be a catalyst
for the
socio-economic
upliftment of
five million
households by
the year 2025.
India's Best Micro Finance Companies to Rely On

The advent of technology has
maximized the speed of
information flow and capital,
automated transactions, controlled and
data analytics, improved customer
experience, reduced transactional
costs, and increased efficiency and
customer outreach. The growth of
digitalization has led to the influx of
tremendous amount of knowledge
about the customer base. It has also
enhanced the transparency quotient
within the external and internal
audience of many organizations. One
such company having the similar
attributes is SATYA MicroCapital
Ltd.
Intimacy is also being fostered and its
team is also in a state to learn about the
company’s potential customers based
on data gathered via operational
workflow. This landscape has enabled
SATYA to be innovative using new
ways to reach out and engage with its
customers along with providing perks
like increased pace of work, and the
team is also in a state to quickly access
the knowledge base. “Therefore, it has
led us to believe that technology is
having a profound and intense impact
on our operations,” says the team of
SATYA MicroCapital.
The foundation of SATYA was laid in
October 2016, which was followed by
the unprecedented arrival of
demonetization. “Despite this we
powered through and commenced our
operations on January 1, 2017,”
conveys Vivek Tiwari, MD, CEO &
CIO of SATYA MicroCapital. This
enabled people to have doubts on
SATYA - the recently established
microfinance institution, which was a
new entry in the Indian MFI space,
back then. It was one of the most
challenging times endured by the
organization when its only aim was to
get grounded into the industrial
ecosystem.
With undying dynamism and
compassion, team SATYA maintained
their calm and dedicatedly affixed the
name of the organization in BFSI
terrain. There was a time when reputed
investors did not place their interest in
the company as it was new in the
marketplace. The initial investments
made in the company was done by
accumulating savings of 18 employees
who joined SATYA in its early phase.
By sheer demonstration of the fact that
unsecured lending to honest and
trustworthy micro entrepreneurs is still
Our mission is to be a
preferred choice for
the people at bottom
of pyramid in
creation of their
enterprise and
livelihood through
holistic approach.

fruitful, SATYA has revitalized the
confidence of lenders and investors
back in the sector. Having a goal of
creating a difference in the livelihoods
of destitute via lending of 30k – 40k
rupees, SATYA has expanded its
terrestrial presence in more than 152
districts of 21 states catering to more
than five lakh households in its
operational journey of four years.
Dynamic Offerings
SATYA offers microloans from 10k to
200k rupees to the unbanked and
underserved section of the society at
the bottom of the pyramid in the rural
and the marginalized belt of the
country, based on a strong credit
assessment and a centralized approval
system on a self-sustainable and a
commercial viability model.
The product offerings encapsulate
multifarious microloans ranging from
SME Lending, Emergency Loan,
Health Insurance with 24 x 7
Doctor-on-Call Facility to Hospicash,
and Micro Business Loan Products.
SATYA caters to those who seek credit
help in the several focus sectors for
their income generation and income
growth purpose such as agriculture,
animal husbandry, business/trade,
production/services, and for water
sanitation purposes.
SATYA, despite being in a cash-heavy
microfinance industry, revived back on
growth track after the infamous
demonetization was announced by the
government in November 2016. Since
then, the company has witnessed a lot
of emerging and disrupting trends.
Digitalization, cashless transactions,
adaptation of technology in MFI
space, timely advancement of industry
product mix and improvised loan
underwriting are to name a few.
COVID-19 and liquidity crunch are the
latest add-ons in the list of challenges.
However, with slew of measures
announced by the central government
in support of NBFC - MFIs and
resilience portrayed by the sector since
time immemorial, a pavement of hope
is making its way to further
opportunities and growth.
Amidst this crisis, the company has
ensured that prime importance is given
to the health of not only its clients and
employees but their family members as
The fundamental aim of
providing microfinance
services is to alleviate
poverty and elevate the life
state of underserved people
via making them financially
independent.

Vivek Tiwari was born in a
middle-class family in Sultanpur,
Uttar Pradesh. At the age of nine
years, he got enrolled in Navodaya
Vidyalaya which was built under the
New Education Policy in 1986,
whose ethos and values has helped
shape his personality today. He
imbibed the learnings and values of
self-sufficiency, independence post
senior secondary during hostel life.
It was this early time in his life, when
Vivek inculcated a balance between
his emotional and practical
approach. The roots of prodigious
leadership were also within family
genes which he received as a gift
from his grandfather.
He holds a postgraduate diploma in
Rural Development and
Management from the Institute of
Engineering and Rural Technology,
Allahabad. Vivek has fundamentally
contributed to the microfinance
sector since formative years. He is
attributed for the geographical shift
of microfinance from South India to
North India and for accelerating the
growth and scale of MFIs in
Northern parts of India.
Before laying the foundation of
SATYA, Vivek ardently worked in the
development sector for more than
15 years with expertise in
microfinance and lending portfolio
of more than 10,000 crores. He
worked with Gujarat-based, Vardan
Microfinance where he initiated
operations based on the Grameen
Model and trained and developed
workforce at middle level
management. He has also worked
with CASHPOR Micro Credit. He
also actively worked in certain
developmental projects supported
by UNICEF and NABARD.
Subsequently, he worked with Satin
Creditcare Network Ltd (SCNL) as
Chief Operating Officer (COO) for
more than eight years. Pioneering
Banking Correspondent Lending for
banks, he has successfully
implemented the WSHG (Women
Self Help Group) and National Rural
Livelihood Mission (NRLM).
Vivek has also been felicitated with
the BFSI Leadership Award as well
as Bharat Jyoti Award by India
International Friendship Society.
Recently, he was bestowed with
Most Promising Business Leaders
of Asia Award by Economic Times
at the 5th Edition of Asian Business
Leaders Conclave 2020. He is also a
certified professional of
Concentration in Management
Program from Boulder Microfinance
Training, Italy.
Vivek was appointed as the
Managing Director of SATYA, with
the responsibility of spearheading
the Company’s strategic efforts and
driving its expansion in the field of
microfinance. He has more than two
decades of experience in the
development sector. His proficiency
outlines extreme focus on the
innovative deployment of
technological framework for
incubating responsible lending,
financial inclusion, social
entrepreneurship, and impact
investing within national boundaries.
Vivek Tiwari has driven SATYA with
complete digitization driven
innovative business processes like
Digital Repayment Collections and
Disbursements becoming a market
leader by commencing cashless INR
500 crore collections for the very
first time in the industry.
A Man with Great Ethos
Vivek Tiwari
MD, CEO & CIO
SATYA MicroCapital Ltd.
Vivek was felicitated in an event organized by
The Economic Times, Asian Business Leaders
Conclave 2020 as one of the Most
Promising Business Leaders of Asia.

well. “We initiated a free of cost
Digital OPD to address their medical
concerns and provide ease of access to
experienced medical professionals,”
states Vivek. Since early March, the
company has floated the
‘Work-From-Home’ policy and even
continues to provide flexible roster
plans wherever possible.
“Even as our field officers visit the
clients and go about their daily
operations, we ensure that all
preventive measures are strictly
adhered to,” says Vivek. SATYA has
equipped its 2,000+ staff across the
country with health kits (including
gloves, face masks, sanitizers,
immunity boosting homeopathy
medicines, etc.) For the ones who
unfortunately contracted this disease,
the company has specially curated a
Health Insurance Plan- ‘COVID
CARE’ to help with their medical and
other related expenses.
SATYA’s team has continually
disseminated government authorized
information about this pandemic and
ensured that a good follow-up has been
maintained not only with the
employees but with its clients as well
through the SATYA Client Connect
App. Proper training and skill-building
techniques are continued to be
imparted either through physical or
virtual means. “We have even modified
and created loan products according to
the needs and demands of our clients
keeping in mind the challenges faced
during this crisis time,” shares Vivek.
In future, SATYA will successfully
expand its presence across PAN India.
It will actively operate across the
nation, thereby more aggressively
providing dynamic services to a wider
section of people.
The microfinance industry is on the
cusp of a digital transformation right
now and SATYA is moving towards the
same in a vigorous manner and is well
on its way to quickly emerge as a
‘Fintech Company’.
Despite the pandemic scare
around and a severe dent in
the national economy, the
efforts of our team have
remained robust.

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Empowering Learners with
Innovative Education Loans
Technology and education have always maintained a
synergy from the start. Sharing of knowledge and
the gathering of information is integral to education
and facilitation of which is made crucial by technology.
Hence, their dynamics are quite complex. Yet, if derived
and leveraged properly, it can create wonders in the field of
learning and development process of the people.
There is one such company working with a similar
approach to bring education and technology to everyone’s
attention and striving to make a difference, which is
Eduvanz. The company is on a mission to make education
and skilling universally accessible by providing easy,
transparent, and speedy financial assistance to learners
using an innovative technology solution.
The Mumbai-based fintech, Eduvanz, founded in 2016 by
Varun Chopra (IIT Madras) and Raheel Shah (IIM
Ahmedabad), has helped thousands of learners with its
Study Now and Pay Later loans across Universities,
Edtechs, Skilling Academies, Certifications, Schools and
Test prep centers. Varun Chopra acts as the CEO while
Raheel Shah is the Chief Business Officer who looks at
the alliances and partnerships. Both the cofounders bring in
more than 15 years of experience each across functions and
roles including Investment banking, consulting, and
outsourcing industries.
In an interview with Insights Success, Varun and Raheel
share the journey of Eduvanz in facilitating access to
education to all learners by providing innovative education
loans. Below are the highlights of the interview between
Founders of Eduvanz and Insights Success:
Enlighten us with the journey of your company so far.
Eduvanz financially empowers Learners with innovative
education loans. As a new-age fintech NBFC dedicated
exclusively to the Education industry, Eduvanz has
introduced student-friendly loans starting from 0% interest
rates, flexible tenures, fast turnaround time, and full
transparency on loan decisions.
Before starting up Eduvanz, we founded CurrEQlum in
2015-2016.
CEO
VARUN CHOPRA
18| FEB 2021

CurrEQlum was founded to impart life skills in classrooms
across India using games, props and analytics. Their first
start-up helped them understand the market better and
paved the way for Eduvanz.
As of date, we have given >25,000 Loans, >300 Crs
disbursal. During the pandemic, the number of unique
customers has grown 4x, with monthly disbursals growing
by ~3x. Investments/Grants in the company/organization
with names of investors/donors. Raised $5 million in a
Series A round led by venture capital firm Sequoia Capital
India. Secured $2 million from social-impact investment
firm Unitus Ventures and Michael and Susan Dell
Foundation in a pre-series A round.
Give a detailed summary of the key personality(s) life
before and after their entry into the microfinance space
.
Right from the start, we were motivated by the opportunity
to generate measurable social impact, create meaningful
financial returns, and build sustainable ecosystems. While
working on our previous venture - CurrEQlum, we
interacted with hundreds of parents across India regularly.
During this time, we discovered a problem commonly faced
“
Ed a provide
low c , smar loan
t financ skil
base educationa
training t learner
by a majority of Parents - the unavailability of easy, fast,
and affordable financial assistance for paying the school
fees or tuition fees.
The problem was more acute for families looking to enroll
their children in new programs such as job-oriented
vocational training courses as well as coaching classes or
test prep classes. Banks are too focused on larger ticket
loans associated with Higher Education to create
meaningful solutions for this segment. In addition to this,
their lending criteria tends to marginalize first-time
borrowers and cash earning families and does not recognize
the thousands of training institutes and new-age online
institutes across India. The problem is further magnified
across Tier 1/2/3 cities.
In such scenarios, Banks either decline the business, or
charge very high-interest rates - resulting in discontinued
education, underutilized infrastructure, and lost
opportunities. Thus, we realized there exists a big
opportunity for Eduvanz that nobody else was working
Chief Business O cer
RAHEEL SHAH
“
www.insightssuccess.in FEB 2021 | 19

upon. We spent months on research including interviews
with parents, institutes, recruiters, and students. We realized
that a new lending entity needed to be built - one that gets
all the stakeholders (parents, students, institutes, etc) on the
same platform and ensures that each stakeholder is held
accountable for its role. By doing so, Eduvanz was able to
build loan solutions that addressed the concerns of each
stakeholder – thus, learners could leverage fast, cheap, and
flexible financial loans from Eduvanz for learning career-
building skills.
Kindly talk about the exclusive products and services
offered by your company.
Eduvanz was formed with a vision to facilitate quality
education across all learning requirements from K-12 to
higher education. It was set up to fill up the gap considering
the huge demand for loans that enable learners to
Study/Learn Now and Pay Later. Eduvanz enables students
to study now, pay later in easy pocket-friendly monthly
installments at 0% interest rates. The aim is to unlock the
potential of individuals and become the preferred option for
all education financing requirements. The mission is to
empower students to pursue an education of their choice
and enable them to make informed decisions by providing
free financial resources and unbiased advice.
- Skill-based loan: Our focus has been on Skill Based .
Programs. Thus, we have developed a strong competency
in this segment to deliver high returns for Institutes.
- Possible Interest-Free EMIs: Customized Loan Products
with the possibility of Interest-Free/Low-Cost EMIs.
- Faster Decision: Decision within hours of receiving the
documents.
- Tech-Driven Product with detailed dashboards to drive
sales for institutes.
Eduvanz has integrated its technology with the educational
institutes or platforms to have a smooth process of loan
sanctions just via a few clicks, without the need of
submitting physical documents. This integration of
educational institutions and financial lenders benefits the
end consumer, with low/no-cost financing help on the go on
a real-time basis which differentiates it from other lenders.
Eduvanz is looking to replace the middle counselor and
from merely acting as a financial lender, be capable to guide
the student to the best institute along with placement
capabilities. The interest directly comes from the institutes
and not the borrowers, the technological integration ensures
the performance of the students is being tracked and the
installments are being paid on time.
What is in the pipeline:
- We are in the process of launching a credit card product.
- We are building India’s first virtual counselor where
students will be suggested the course and institutes basis
their skill set and the aspiration.
How the technological advancements and innovation in
the microfinance space has impacted/enhanced the
business of your company?
Technology platforms being used by Eduvanz: We use
proprietary artificial intelligence (AI) based algorithms and
predictive analytics to provide loans based on the future
employability of learners. Using the mobile app, end-to-end
processing from Loan Application to Credit Assessment to
Disbursal happens completely online in a matter of a few
hours.
What does the future look like for your company in
terms of growth and expansion?
The end goal is to enable the learners to access quality
education and motivate them to pursue the institute of their
choice. From being an alternative financing lender, Eduvanz
aims to become the go-to financing solution for learners
across all the sectors starting from K-12 to up-
skilling/skilling, UG/PG, and Test preparation.
How is the microfinance business faring in this ongoing
pandemic? As one of the prominent microfinance
enablers, what steps have you taken towards tackling
this challenge all the while safeguarding your employees
and taking care of your clientele’s needs?
Digital finance has witnessed an expansion in the sector
despite the devastating impact of the Covid-19 pandemic on
the country’s economy. While the pandemic has accelerated
the acceptance and adoption of digital financing as
compared to pre-pandemic but the fine line between fintech
and banks is slowly blurring. With the technological
advancements and with digitization there has been a
significant demand towards upskilling and skilling courses
which is where we too have witnessed the rise in demand.
20| FEB 2021

How is the
FINANCING
Sector in India Helping Young
ENTREPRENEURS
MICR
?
22| FEB 2021

icrofinance, also known as microcredit, is a way
Mof providing small businesses and entrepreneurs
credit to pursue with their ventures. Small
businesses and young entrepreneurs often do not have
access to financial resources from major institutions.
Accordingly, they have a tough time accessing loans,
insurance, and investments, which will help them prosper in
their business.
This is where microfinancing institutions come into play.
They provide loans, credit, money transfer, and so on to
young business owners and entrepreneurs.
The Structure of Microfinancing
Microfinancing helps young entrepreneurs to start their own
business and to march towards financial independence. A
borrower can avail of this type of loan if they do not have
any collateral. However, owing to high interest rates, these
loans come with the risk of default.
Microfinancing encompasses microloans, micro-savings,
and microinsurance. This helps young businessowners to
start their business effectively. Individuals residing in
underdeveloped countries or who could not otherwise avail
a traditional loan can opt for microfinance.
Microfinancing also provides the option of micro-savings
accounts. Accordingly, entrepreneurs can open a savings
account without any minimum balance. They can also avail
of insurance at a lower rate, and with lesser premiums.
The Importance of Financial Literacy
Individuals interested in opting for microloans need to have
basic information regarding aspects such as book-keeping,
cash flow management, and so on. Access to cell phones
and wireless internet has also provided further advantage.
Now, potential borrowers can gather information through
cell phones and use them to carry out financial transactions.
Microfinancing is Essential
Microfinance provides entrepreneurs with the resources and
capital to proceed with their business. Without
microfinance, they may have to go for loans or payday
advances with very high interest rates. Alternately, they
may have to bother their friends and family for financial
assistance.
With the aid of microfinancing tools, they can easily invest
in their business, or spend to make their own lives better.
Who Benefits from Microfinancing?
Entrepreneurs from low-income background, self-employed
and household-based entrepreneurs can reap the benefits of
the microfinancing services provided by financial
institutions. In rural areas, small farmers and people
involved in small income-generating activities can apply for
microfinance. In urban areas, microfinance activities
surround shopkeepers, service providers, street vendors,
and so on. Poor and non-poor people with relatively stable
source of income can apply for loans.
How Efficiency is Microfinancing
Many experts have lauded microfinance as the key towards
ending the cycle of poverty, decreasing unemployment,
increasing earning power, and aiding the financially
disadvantaged. However, there are many others, who
believe that it has lost its mission and may not work as well
as it should.
Some people argue that many borrowers sometimes use
microloans to pay for their necessities, or sometimes even
their business fails. This, in turn, puts them into further
debt. For example, as per data, 94% of all microfinance
loans in South Africa are used by people to pay for their
necessities. This proves that the borrowers are using the
loan not to invest in any new business, but to pay off a
previous loan. This eventually leads to more debt.
However, there are many experts who believe that if
microfinance tools are used properly, they can work
wonders for the financially underserved entrepreneurs, who
want to achieve tremendous success in their venture. The
industry’s high repayment rates act as a proof of the
effectiveness of these loans. Hence, microfinance is a very
important topic in the field of finance. If it is implemented
properly, microfinance can be very beneficial for young
entrepreneurs to excel in their dream business.
- Ananda Kamal Das
FINANCING ENTREPRENEURSHIP

ith the vision to touch the lives of millions
Wthrough impact financing, Inditrade Capital
commenced its micro finance operations in
April 2017 in Maharashtra, through its wholly-owned
subsidiary, Inditrade Microfinance Ltd.
In the following interview, Mr Sudip Bandyopadhyay, the
Group Chairman, shares valuable insights into the
company’s continuous success in the microfinancing space,
and also how Inditrade Capital Group of Companies is
poised for better market opportunities in 2021.
Below are the highlights of the interview:
What is the vision and mission of your company?
When we offer credit to our customers, who represent the
bottom of India’s enterprise pyramid, we not only seek to
augment financial inclusion of those who have been hitherto
bypassed or underserved by the formal financial sector but
hope to spark progress all along the ecosystem that they
form a part of.
As our borrowers and their families experience economic
and social progress, their advancement has a multiplier
effect on backward and forward linked enterprises, as well
as the communities they live in.
Our aspirations for our borrowers go beyond mere financial
stability. We envision supporting them as they expand from
micro to small and then scale-up to medium and eventually
large enterprises that create immense value for our nation.
Our micro-finance lending offers five unique products –
Ujwal, our income generation loan to new customer; Sulabh
– a consumption loan for home and business appliances;
Vikas – a top up loan available to the existing customers;
Shiksha – an education loan for family upbringing and
Pragati – a 2nd cycle income generation loan for existing
customers with good track record.
What kind of challenges has the company and its team
faced being in the micro finance business?
Being a segment that requires the right blend of people
skills and conversancy with technology, our largest
challenge has been to attract right talent, train and retain
them. On account of the ongoing crisis, currently, ensuring
liquidity has been posing a challenge too.
As one of the prominent micro finance enablers, what
steps have you taken towards tackling the COVID-19
pandemic, all the while safeguarding your employees
and taking care of your clientele’s needs?
As directed by the Government, initially (March to May)
we offered moratorium to all customers who approached us
with requests for the same. However, effective June 2020
onwards, we began to give the moratorium facility on the
basis of merit/performance of the customer. This approach
was followed so that we could use our funds to meet non-
moratorium demand as well.
After poor collections in April and May 2020, finally we
saw an overall recovery rate of 53% in June-2020. More
importantly, we were glad to see a very positive response
from customers, who showed intentions to repay although
they were saving money for uncertainties that arose during
the lockdowns.
We now look forward to supporting our clients by
disbursing top-up loans that can help them expand and
sustain their businesses, which will, in turn, generate cash
flows, which could drive repayments.
We have ensured that all our lenders are paid their June
EMI 100%. The repayment has been based on mutually
agreed moratorium given in writing by all lenders. Today
Empowering Lives through Impeccable Finance Solutions
Inditrade Capital Ltd.
24| FEB 2021 www.insightssuccess.in

Sudip Bandyopadhyay
Group Chairman
Inditrade
Capital strives
to touch the
lives of millions
through impact
financing”
“
ABOUT THE LEADER
Recognized by the International Who’s
Who, Sudip Bandyopadhyay, the
Group Chairman, is a Chartered
Accountant and Cost Accountant with
more than three decades of experience
in various areas of finance and financial
services. He has been part of various
large conglomerates such as Hindustan
Unilever, ITC, and Reliance amongst
others.
It is Sudip’s long term vision to
ensure Inditrade is an active
participant in nation building. He
firmly believes that Inditrade is
today at a stage where it can
take a quantum leap by
pioneering change in the Agri
lending and micro lending
space, while building on its
strength in the personal
finance domain, in a
substantial and sustained
manner.
Sudip sits on the Boards
of a number of listed
and unlisted domestic
companies and is also
an investor in many
Fintech and other
Technology related
ventures. Sudip also
has regular
presence in
electronic and print
media.

we are self-sufficient to the extent of paying all our dues
both on book and off book, meet salaries and other
administrative expenses out of collections.
All our offices were generally closed during April and May
and employees were enabled to work from home. To
facilitate them, we
• provided laptops for critical operating staff so that they
could carry out critical tasks.
• provided VPN connectivity to employees as required.
• managed the attendance sign in and sign out through
iBoss across all teams.
• Hand-held employees for video-calls on Skype/zoom for
regular monitoring and reporting.
• Conducted board meetings over video conferencing.
We opened all our branches (171) and were happy to
witness more than 85% attendance from end May 2020.
Our corporate offices in Mumbai opened on June 8.
Before opening the offices, we ensured that all of them were
sanitized thoroughly. We provided sanitizers/masks for all
the staff who attended. We also made arrangements for
Cogun for all our employees, to enable them to open doors
and use elevators without contact.
We put in place stringent SOP for all our offices:
• Temperature check before entering
office.
• Rotational schedules
• Staggered sitting
• Restricted numbers in offices,
meeting rooms, pantry
• Sanitizing couriers received
• Restriction on printing, travel, etc.
• Placement of sanitizers as required.
• Masks mandatory while at workplace
Some additional ongoing measures
that we adopted were:
• Bus facility has been started in
Mumbai on all three lines – Western,
Central and Harbour to facilitate
employee transport.
• Pick-up and drop every day.
The past few months have been a difficult time for all and
Inditrade has tried to respond, in real time, with compassion
and practicality. We have successfully worked around the
challenges that we faced and look forward to carrying
forward our mission with as much determination in the new
normal.
We also set up a COVID-19 Benefit Insurance plan, which
was in addition to the regular health plan. All employees
were covered under the special COVID-19 benefit plan up
to an amount of INR 1 lakh. The benefit would be provided
to the employee on the unfortunate condition when he tests
positive for COVID-19 and required to undergo
hospitalization for a period of 24 hrs.
Our main focus is on impact financing. We have been very
clear from day one that we would not be chasing numbers.
Operational excellence with a human touch has always been
our goal. We see this as the game-changer for a long-term
standing in the MFI space. It’s also about how we can uplift
our clients socially and economically, while finally
satisfying our investors, of course.
26| FEB 2021

Major Factors of
Financial Planning
for Business and
Personal Growth
You cannot over-emphasize the importance of
financial planning. When it is done right, it can
give a boost to your personal and professional life
and make everything simple and convenient. However,
whether or not financial planning pays off depends a lot
upon several factors. Except for a few factors that overlap,
the factors affecting financial planning are different for
business and personal life. Let us take a look at them
separately.
Factors affecting business financial planning
Sales forecasting
As a business owner, you should estimate your sales
revenue for every month, quarter, and year. By doing so,
you will have a blueprint of your progress and you will be
able to develop better marketing strategies to achieve your
sales targets.
Knowing your expenses
Your business expenses can be divided into three
categories:
Ÿ Regular Expenses
Ÿ Expected Expenses
Ÿ Associated Expenses
Regular expenses include current ongoing costs such as the
costs of rent, utilities, and employee salaries. They may also
include the cost incurred to conduct conferences and office
parties etc.
Expected expenses include future costs like tax hikes,
increase in the minimum wage, cost incurred during
maintenance and repairs, etc.
Associated expenses are the estimated costs of various
initiatives that a business undertakes to fuel its growth. For
instance, costs incurred while training and hiring recruits
come under associated expenses.
Knowing your assets and liabilities
Knowing your assets and liabilities is vital for
understanding the financial position of your business. By
tracking them, you can maximize the potential value of
your business. Startups and SMEs often tend to
underestimate the importance of their assets and fail to
properly account for outstanding bills.
Finding the break-even point
Break-even point refers to the point where the total sales
have matched the total incurred by the business in the
manufacturing of a certain product. By knowing where your
break-even point is, you can effectively determine the best
price for your product as well.
Devising an operation plan
If you want your business to run smoothly, you need to
create an operational plan with as many details as possible.
Try to imagine the core areas of your business that will be
engaged the most and accurately estimate the expenses that
will need to be made to achieve your targets. By having an
operations plan, you will be in a better position to
determine whether your business can be optimized with the
introduction of new technology or whether the cost of
implementing that technology will be too much to bear at
your current level.
Factors affecting personal financial planning
Financial potential
How fast can you achieve your financial targets depends on
how much you have been able to save and how much you
are willing to save. Your current financial potential plays a
28| FEB 2021

Financial
Planning
Insights

key role in setting up targets.
Investments
It is very important to choose the right
investment options; otherwise, you
might get into serious financial trouble.
Research thoroughly before making
any decision to ensure that your hard-
earned money does not go to waste.
Plan for emergencies
A financial plan is incomplete unless
you incorporate an emergency clause.
As a rule of thumb, always create your
financial plan by considering the
worst-case scenario. The best way to
deal with emergencies is to have
insurance cover. Make sure you have
good insurance policies to cover your
liabilities.
Accounting for dependents
If you have people who depend on you
financially, let’s say parents, spouse,
children, or other family members, you
need to account for them in your
financial plan.
Goals
The first step is to identify your
financial goals, and the second step is
to prioritize them. Also make sure that
you set time-bound, achievable targets.
Setting up targets that are way too
unrealistic will only work against you.
Age
Your age plays a major role in financial
planning. When you are young (in your
20s) you can take bigger financial
risks, but as you mature and become
older, your capacity to take risks
decreases, and your financial plan
should reflect that.
These are the factors that you should
take into account for creating a solid
financial plan that will save you from
unnecessary stress and hassle.
Ajay Kapur is the Chairman of the highly respected and valued
organisa on, Shubham Group which comprises five companies, viz.,
Shubham Chemicals & Solvents Ltd., Divine Autotech Pvt. Ltd., Ansh
Impex Pvt. Ltd., Sai Kripa Buildtech Pvt. Ltd., and Sainoor Automobiles
Pvt. Ltd. Under the ardent leadership of Mr. Kapur, SCSL provides
techno-commercial services to industries such as plywood and laminate,
synthe c resins, footwear, FMCG, tex le, packaging, pharmaceu cal and
many more.
Mr. Kapur believes, “Des ny changes one future, but determina on may
change one’s des ny, too.” In the last 28 years, SCSL is went through
many challenges, but Mr. Kapur’s undaunted behaviour and courage
helped SCSL to surpass every obstacle. Today, the organisa on is growing
by leaps and bounds. His go-ge er a tude and trust in the team
enabled SCSL as one of the best customer-centric organisa on in the
country; an organisa on whose core philosophy lies on ethical business
prac ces and transparency of opera ons.
In the year 2006, Ajay Kapur joined Modern Public School as Chairman &
Managing Director which was established in the year 1971 by his
mother, Late Mrs. Malka Kapur. He is an alumnus of Delhi School of
Economics and contributes a lot to educa onal ins tu ons in Delhi-NCR.
He believes that there’s nothing more rewarding than giving back to
society and making a difference in the lives of people. Due to his vision
and commitment, the School has been listed in the Forbes magazine as
one of the “Great Indian Schools of 2018”.
Mr. Kapur wants to see posi ve changes in society, and that’s why he
always helps young businesses and entrepreneurs. He is one of the
directors and chief mentors at Risers Accelerator, a Delhi-based
accelerator group to leverage start-ups. Being the pilot steward and key
mentor, he is taking charge to educate and empower young
entrepreneurs and their promising startups.
Mr. Ajay Kapur is the recipient of the pres gious "Innova ve Business
Leader of Asia" award for Excellence in Business Development at the
th
16 South Asian Excellence Awards – 2018. Also, under his leadership,
Shubham Group has won many awards for outstanding performance in
different segments, including “Excellence Award for Achieving Highest
Sales” in an award ceremony held at Kuala Lumpur.
About the Author –
Ajay Kapur, Founder and Managing Director of SCSL
30| FEB 2021

Micronance Insights
32| FEB 2021

Overview of the
INDIAN
MICRO
FINANCE
Sector
After pandemic, lockdown, and financial tussle, the
year 2021 brought hope of starting new. While
people moving forward with the new normal Indian
economyisseeingasurgeofgrowth initswake.
Microfinance sector is among the first to recover the post-
COVID-19 pandemic. Be it the AP crisis, demonetization, or
any other crisis, the microfinance sector has seen a common
aftereffect – poor loan repayment. So how has the
Microfinance Institutions (MFIs) survived all these crises?
The answer is the bottom line of the pyramid – women
customers and rural consumers who form a strong backbone
of themicrofinancesectorinIndia.
As the COVID-19 pandemic, just like any other sector, hit the
microfinance sector hard, everything came to standstill when
the whole country went into lockdown on March 25, 2020.
Most borrowers lost their jobs. The country saw a painful
trend of reverse migration of workers and labours right after
the lockdown was imposed. The Coronavirus pandemic not
only stopped the repayment activity completely, but the RBI’s
regulation about providing a moratorium put the repayment
process on pausetillAugust 2020.
The Indian economy indeed went on the back foot due to the
pandemic. But talking about the MFI sector, it has not only
survived but bounced back with more strength after every
crisis.And the same fate is to be followed with the COVID-19
crisis with the collective efforts of the customers, money
lenders,andthegovernment.
The MFI sector is already experiencing the changing
dynamicspost-pandemiccrisis.Here’s how:
RBI has announced a new regulatory framework for
MFIs.
This is the first time when the microfinance sector will be
seeing any regulatory norms to harmonize the operations. To
boost theIndianeconomyandestablishharmonyinthe

microfinance sector, the Reserve Bank of India (RBI) recently
took major steps. RBI is now intervening with a framework
that will apply to all the lenders in the microfinance sector.
This includes commercial banks, small finance banks, and
otherentities.
Clear guidelines regarding the interest rate, lending norms,
andotheroperationsareimposed.
Digitizationistheway ahead.
After the demonetization, the MFI sector saw another
slowdown in repayment from its customers. Previously, the
loan disbursement had been majorly taken in cash. After the
dust of demonetization settled, people got more accustomed
to digital payment.As a result, now most of the loan disburse-
ment process happens through a cashless model. Post-
COVID, digitization will be the reality of the microfinance
sector. Not only the digital mode makes the repayment easy
but providing more credit to the customers will be hassle-free
throughtheonlineprocess.
Highlevelofconnectionwith the customers.
Strong connection with its customers has always been the
USP of the microfinance sector. It’s the ground connect that
helped MFI survive throughout the pandemic. While the
customers were anxious amid financial struggles about
missing the repayment deadline, the majority of lenders
showed patienceandempathytowards customers.
The companies asked their staff to connect with the customers
over virtual meetings and phone calls. Not only the companies
offered moratorium and digital mode of repayment, but they
also counselled the borrowers about their safety and hygiene.
This further strengthened the customer relationship and
helpedlessenthepanicamongtheborrowers.
Pent-up plans willberevived.
The customers on the bottom line of the MFI sector are people
who constantly juggle to bridge the gap between their
financial needs and savings. Most of these customers borrow a
loan to grow their small businesses to support their families.
Most of them had plans to expand their businesses, maybe
starting a new branch, expanding the space, relocating the
business, buy machines and instruments, or invest in manage-
ment and marketing. But due to lockdown, every plan came to
anabrupthaltwaitingtoberevived.
Post-lockdown, now that people are moving strongly to bring
back the normalcy in their work and life, all the plans put on
hold for about a year will be brought into action. People will
need more credit to boost their business post-pandemic, in
turn,boostingthemicrofinancesectorinIndia.
Theruraleconomywillbe themajorboost.
While the pandemic first hit urban India badly affecting the
metro cities, towns, and suburbs, rural India was seemingly
unaffected at the start with minimum to zero COVID cases in
some areas. Even after the lockdown was imposed and the
cities came to a halt, the rural economy was running with
vegetables, grains, and dairy products allowed to be brought
tothemarketas essentials.
The rural economy, however, has been disproportionately
affected by the pandemic. But the digital lending process has
been a major help for the lenders to reach potential borrowers.
Strong customer relations and information through local
credit bureaus will be the game-changers to get more potential
borrowers onruralgrounds.
What nextinthe futureof themicrofinance sector?
With a population of 1.3 billion and one-third population
relying on agriculture and related jobs, the microfinance
sector spans a wide space of the Indian economy. While there
is a greater need for credit from the borrowers’side, the huge
gapbetweendemandandsupplyremains.
MFIs are facing the major challenges post-pandemic – higher
non-performing assets and a major hurdle in providing hand-
to-hand liquidity to the lending institutes and borrowers on
theground.
RBI has responded to these two problems by offering three
months moratoria to the borrowers and providing liquidity to
thelendinginstitutestohelpsurvivethepandemic.
But to survive is not enough. For the MFIs to thrive post-
COVID-crisis, the lending banks will have to provide
liquidity to the intermediate MFIs for them and the end
customers to get back to normalcy and repay the borrowed
amount.
In other words, it works both ways. Lenders must be easy and
provide credit to the borrowers to help them bring back
normalcy. And the borrowers must repay the credit once the
dust of the COVID-19 pandemic settles.And together we will
pull the Indian economy out of the dark if we focus on a ray of
lightattheendofthetunnel.
WrittenbyVrushaliRakhunde
34| FEB 2021

Amidst so much development happening around the
world there are still some sections of society that
are under-privileged. To be financially empowered
is the most fundamental progress in any area of life. Satin
Creditcare offers a diversified suite of products to serve the
under-privileged segments of the society. It constantly
strives to empower and promote its customers through its
diverse range of financial products and services. Mr. HP
Singh is the Chairman and Managing Director of Satin
Creditcare Network Limited. Mr. Singh started Satin
Creditcare Network Limited (SCNL) in 1990. Thirty years
later, SCNL has become one of the leading microfinance
companies in the country with operations spanning 23 states
and union territories across India.
Today, SCNL stands tall as a differentiated market leader.
This differential approach has also manifested in the
company's faster-than-industry growth in the last five years.
The company has been able to sustain the growth
momentum despite the setback says a lot about the inherent
strengths leveraged through the years to overcome myriad-
challenges. Under Mr. Singh's esteemed leadership, SCNL
has now crossed the $1 billion AUM mark to join the Ivy
League of Companies in the billion-dollar club. Over the
years, Mr. Singh's visionary approach has always helped in
keeping the business abreast of the latest developments and
trends as well as adapt to suit the changing dynamics of the
ever-evolving industry. Mr. Singh has been an inspiration
for young aspiring entrepreneur since the inception of
SCNL.
In an interview with Insights Success Mr. HP Singh shares
the Journey of SCNL and about its contribution to the
financial inclusion.
Below are the highlights of the interview between Mr. HP
Singh and Insights Success:
While microfinance being the company's core area where it
gives collateral-free loan to women through the Joint
Liability Group (JLG) model, the company keeps
expanding its offerings to make them more encompassing
and suited to the diverse needs of the growing customer
base. Given the dynamically evolving nature of today's
credit culture, keeping pace with customers' unique
aspirations and needs can be quite challenging. The
company is continuously expanding the vistas of the
business to deliver customized products and services to the
customers. The companies' clients are economically active
women in rural, semi-urban and urban areas, who otherwise
have limited access to mainstream financial service
providers.
In continuity to evolving the product offerings, Mr. Singh
incorporated Satin Housing Finance Limited in 2017 and
Satin FinServ in 2018. Satin Housing Finance Limited
(SHFL) a professionally managed housing finance company
registered with the National Housing Bank (NHB), is a
wholly-owned subsidiary of SCNL. It is engaged in
providing long-term finance for purchase, construction,
extension, and repair of houses for the retail segment, along
with loans against residential property to customers
belonging to the Middle- and Low-Income Groups in
peripherals of urban India, semiurban and rural India. Satin
FinServ Limited (SFL) on the other hand is aimed to "serve
the small business owners (MSMEs) in a manner that is
mutually beneficial" by providing them loans for their
business needs. SFL has a specific focus on small business
owners in manufacturing, trading and services posting an
annual turnover of less than Rs. 200 lakhs. SFL's product
Driving Financial Inclusion
36| FEB 2021

Mr. HP Singh
Chairman and
Managing Director
Satin Creditcare
remain focused on
driving ﬁnancial
inclusion, underlined
by its strong
commitment to
achieving socio-
economic progress
of low-income
communities
“
“

offerings include MSME – LAP. Loans in the range of Rs. 2
lakhs to Rs. 15 lakhs are offered to customers falling under
the category defined and against an immovable property.
Mr. Singh acquired Taraashna Financial Services Limited as
SCNL subsidiary, pursuant to a special resolution passed by
its shareholders on July 30, 2016. TFSL acts as a business
correspondent for banks and NBFCs.
What is the vision and mission of your company?
Mission:
Ÿ To be a leading micro-financial institution by providing
a comprehensive range of products and services for the
financially under-served community.
Ÿ To lead in gender empowerment by leveraging on
technology and innovation that forge sustainable
strategic partnerships.
Vision:
Making Micro-finance Inclusive and Purpose Driven
Mr. HP Singh has played a pivotal role in the success of the
organization and his efforts are a measure of how
effectively an organization's mission statement translates
into actual practice.
How the technological advancements and innovation in
the microfinance space has impacted/enhanced the
business of your company?
Digital transformation technology has been a game-changer
for the company. It has not only made the operations quick
and easy, but also enabled the company to turn around
customer acquisition to disbursement journey by bringing it
down from the earlier 15-20 days to a few minutes. This
digital transformation put the company ahead of the curve
to better respond to the ever-changing business scenarios.
The technology was built inhouse in a record time of seven
months, which helped in live tracking of day-to-day
business operations and KPI's through real-time dashboards
updated every 2 minutes which helps the company in real-
time decision making, faster book closing, improved data
quality and better brand image.
The company successfully geotagged the borrowers' houses
as well as branches which helped in improving employee
productivity via route mapping, while reducing
dependability on loan officers (as attrition rates are high in
the segment). The digital platform is completely online with
real-time systems, which provide support to the end-to-end
lending process. The platform is equipped with
comprehensive reporting capabilities, audit trails and logs,
detailed information about loan histories, transaction
reports, required decision-making reports and numerous
management analysis and real-time dashboards. The
solution provides instant customer identification and bank
account verification, real-time CB checks, and SMS
notifications with various real-time integration of APIs.
Today, 100% of the SCNL branches can do cashless
disbursements. SCNL also became the first Micro Finance
Institutions (MFI) to launch its Customer Service App for
client servicing and cashless collections, and also offer
payment options via its website for repayment.
With operations spanning 23 states and union territories
across India, SCNL maintains a focus on rural and semi-
urban areas, ensuring that the services reach deep within
those numerous regions that usually face low or at best,
moderate rates of penetration by other microfinance
institutions. SCNL plays an eminent role in rural growth
clearly exhibited in ~77% of its operations focused on rural
India with a presence in more than 84,000 villages. This
deep-rooted approach puts Satin Creditcare Network
Limited in a sweet spot to leverage the growing capabilities
of India's hinterland to avail financial loans, and thereby,
embark on the journey of rising economic growth and
development. SCNL endeavours on achieving steady
growth without dampening the portfolio quality and expect
to regain growth trajectory with the coming quarters to be
much better and robust both on financial and operational
aspects.
38| FEB 2021

UPMA
Uplifting Rural and Semi-urban Localities by Enabling Microﬁnance
FEATURED
PERSON
40| FEB 2021

Microfinance Association of Uttar Pradesh
(UPMA) is the State association of
Microfinance Institutions operating in the
State. Microfinance institutions are engaged in extending
small ticket size loans to rural and semi urban poor on sift
terms collateral free loans. These institutions are
registered with RBI as NBFC-MFI. Total exposure of
industry in the state is around 15,000 crores with 4.7
million clients. The main objective of UPMA is partnering
with the State Govt, other Governmental agencies and
various stakeholders.
The question is when there is association of Microfinance
Institutions at National level i.e., MFIN and Sa Dhan then
what is the necessity of State assn. National Association
work at the national level. They engage with BI, or
Central Govt and other agencies at National level towards
policy intervention. Both these National Associations are
also Self-Regulatory Organizations and SRO. As SRO
their main object is ensuring compliance of Govt
guidelines, observance of Code of Conduct etc.
Whereas as a State association we are working with the
field level staff on ground level. We are conducting
meetings of our members organization at field level in the
Distt. These meetings are called Distt Meetings. We are
holding various workshops for Microfinance clients on
digital literacy, financial literacy, customers rights as
client to microfinance etc.
Sudhir Sinha, Project Manager
Sudhir is a science graduate from Lucknow
University started his Banking Career since
1972. During a span of 41 years worked in
various capacities besides heading
branches from Rural, Semi Urban to Metro,
Small Medium Large and ELBs. A good
administrative experience by working as Dy
Regional Head, Regional Head, Dy Zonal
Head etc. Worked in two different states of
Gujarat and Andhra. He retired from Bank in
February,2013 and joined UPMA in
December,2013. He has been heading the
same since March 2017.
Our other initiatives are capacity building of member
bodies, instilling the principles of Good Governance. In
this direction we have organized a workshop on
Corporate Governance for Independent Directors
Company Secretary. These workshops are organized in
association with Institute of Directors (IOD); Institute of
Corporate Governance GOI. We have also organized
workshops for HR Heads, Credit Verticals, Front line
officers or for that matter entire spectrum of Microfinance
delivery channels.
As a part of our partnering with Govt officers during
demonetization reports in regard to customer reaching
Distt Administration for waiver of loan. We have toured
almost the entire state from East to west and North to
South and convinced the Distt administration about the
fall out of such instigated representation. Distt
Administration could be convinced and great loss to the
sector could be averted.
During the election period we work with the State
Election Commission for creating awareness under the
SVEEP initiative of the Election Commission. This gives
our partner a sense of responsiveness towards our
Constitutional duties.
During Covid period it was noticed that those of our
clients whose livelihood depends on roadside food selling
viz tea shops, chaat thela or fast food etc. Sensing their
trouble, we have disbursed Rs.2,000/- to around 400 such
badly hit female clients. We have also disbursed masks,
sanitizer during peak Covid period through Distt
Administration. All our initiatives carry financial support
from SIDBI.
We are also arranging various advanced level training
programs for our Microfinance staff through Bankers
Institute of Rural Development (BIRD). We are also
associating with IIM Lucknow in technology
advancement. We have organized workshops with IIM
Lucknow.
Recently the State Govt has organized an Investor
Summit, where investors, Govt Officers, and delegation
from foreign countries did participate. We have put our
stall in the panorama and attracted a good number of
visitors. This gave the sector a wide understanding about
the sector.
Microfinance Exclusive

We are organizing annual conferences also where the
speakers of eminence from various fields of finance are
invited to share their concern expectations and the way
forward. Various research papers and thought processes
are also put forth during such annual conferences. So, far
we have hosted Regional Director RBI, Ex Dy Governor
RBI, Ex Chief Secretary Govt of UP besides people from
Media and heads of Microfinance Institutions from across
the country.
Thus, during a period of around 7 years we have tried to
engage with each and every tool available in the state
towards capacity building, instilling best practices, good
and Corporate Governance besides instilling a sense of
responsiveness in the sector.
Presently we are working on two projects. One being
developing a job seeker to become a Job provider. Under
the project we will identify 50 young entrepreneurs who
are unemployed may be migrant workers. These migrant
workers, mainly female, will be provided one week job
orientation training on ODOP (One Distt One Product).
Subsequently will be provided a loan from Microfinance
partners. A hand holding for six months will be provided
to them so that they are able to employ at least 4 to 5
more job seekers with them. This pilot project is being
launched in two districts of the state namely Kannauj and
Firozabad.
Our next project is supporting startup in the field of
Women Empowerment, Rural Livelihood or Fintech in
linking and associating with IIM. The project is already
launched. We will be extending financial support from
our resources to IIM for this initiative.
42| FEB 2021

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