– Loans ranging from INR 10-75K
– Loan tenure of 1-2 years.
– The clients are from the poor
section of the society and
undertake these loans to start
new business or expand existing
businesses.
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RBI has defined micro-credit as provision of thrift, credit and other financial services and products of very small amount to the poor for enabling them to raise their income levels and improve living standards..
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We founded our Company with the core idea of creating opportunities at the bottom of the pyramid, and we do so by providing financial services to unserved and underserved women in rural and peri-rural areas across India. We believe that our network and services have improved accessibility to formal credit at affordable prices, thereby positively impacting the lives of our customers in rural India.
Our customer-centric model and our ability to leverage our extensive distribution network and deep-rooted presence in rural markets across India, makes us well placed to offer an increasing variety of financial products in areas where financial services penetration remains limited.
The gross loan portfolio of Non-Banking Finance Companies-Microfinance Institutions (NBFC-MFIs) is likely to grow at 10-15% in the current fiscal year, aided by an expected pick-up in disbursements and the expected recovery in economic activity
Devesh Sachdev, the vice-chairman and board member of MFIN ( self-regulatory body for NBFC-MFIs) is the founder and CEO of Fusion Microfinance. Fusion Microfinance was set up in 2010 and now serves 1.8 million active customers through a network of 591 branches and 5,490 people.
The funding will help Delhi-based Fusion Microfinance, a leading NBFC-MFI, further financial inclusion in rural India and play a critical role in alleviating the economic and social impact of the Covid-19 pandemic’s second wave.
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