SVASTI MICROFINANCE PVT LTD.

Sushant ghadge.. 75 Debashish phanse.. Swapnil turakane...117

SVASTI MICROFINANCE PVT LTD MUMBAI

Introduction

Svasti is an urban microfinance operation started in October 2008 to cater to the financial needs of the low income segment of society in Mumbai Svasti started its operations by providing loans to Women Joint Liability Groups. In the near future, it aims to become a comprehensive financial service provider delivering customised loan products, facilitating savings and satisfying insurance needs of the people in the target segment

CONTD

Svasti provides loans of Rs.10000 to Rs.20000 at reasonable interest rates with minimal documentation, no security, small and conveniently repayable installments, all available to customers at their doorstep Svastis loan products and services are fully compliant with the RBI guidelines on priority sector loans issued in May 2011 pursuant to the recommendations of the Malegam Committee

WHAT DO SVASTI OFFER??

Customised Products : Consequently, Svasti has among its objectives the development of customized products and processes that suit different customer profiles. Additionally, Svasti understands the need to learn from the implementation of each of its products and accept changes. The segment of society that Svasti intends to serve, there exists a diverse range of people with differing needs, profiles and ability Svasti is of the belief that one loan product cannot satisfy the requirements of these customers.

CONTD..

Comprehensive Financial Services

The low income segment of society at present is faced with a serious lack of financial service providers and consequently financial products. The options for a loan include formal sources like Cooperative Banks and informal sources like Local Chit Funds and Moneylenders. Only banks exist provide Savings products but the task of opening and operating a bank account seems too onerous for our target audience in spite of the changes made as part of the financial inclusion drive by the RBI. There are few insurance service providers who have the low income segments are part of their plans.

EMPLOYEES OF SVASTI
Young, eager to learn, good communicators The driving force behind Svasti are its field staff. Svasti has three levels of field staff at the branches :

Customer Relationship Manager (CRMs) who are the interface with Svastis customers Branch Managers (BMs) who manage the CRMs, the running of a branch and quality of the portfolio originated Unit Managers (UMs) who are responsible for a geographical area consisting of 2 branches

PARTNERS AND INVESTORS OF SVASTI

Michael and Susan Dell Foundation Blue Orchard Kotak Mahindra Bank Group Microsave ABN Amro Foundation India Social Microfinance Foundation

CUSTOMERS OF SVASTI

Svastis loan customer is a person with a need for small loans and the ability to repay them and comply with Svastis rules. The identification of this need and ability drives the core of products and processes. Svastis customers come from different occupations ranging from tailors to caterers to vendors.

Svasti intends to increase reach among customers by:

Increasing the scope of financial services offered to existing segments covered by Svasti Increase the coverage of customers to all people in the low income segment of society, not just women who can form groups.

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