micro financing unit
TRANSCRIPT
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SVASTI MICROFINANCE PVT LTD.
Sushant ghadge.. 75
Debashish phanse..Swapnil turakane...117
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SVASTI MICROFINANCE PVT LTD MUMBAI
Introduction
Svasti is an urban microfinance operation started
in October 2008 to cater to the financial needs ofthe low income segment of society in Mumbai
Svasti started its operations by providing loans toWomen Joint Liability Groups. In the near future,it aims to become a comprehensive financialservice provider delivering customised loanproducts, facilitating savings and satisfyinginsurance needs of the people in the targetsegment
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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
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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 loanproduct cannot satisfy the requirements of these customers.
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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 loaninclude 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.
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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 arethe 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
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PARTNERS AND INVESTORS OF SVASTI
Michael and Susan Dell Foundation
Blue Orchard
Kotak Mahindra Bank GroupMicrosave
ABN Amro Foundation India
Social Microfinance Foundation
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CUSTOMERS OF SVASTI
Svastis loan customer is a person with a need for small loansand the ability to repay them and comply with Svastis rules. Theidentification of this need and ability drives the core of productsand 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 inthe low income segment of society, not just womenwho can form groups.
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THANK YOU