Asirvad Microfinance Private Limited

Misión:

To organize groups of committed poor women and provide innovative financial services in a sustainable manner with a view to eradicate poverty through viable income generation activities.

Antecedentes y principales retos:

Incorporated under The Companies Act,1956 on 29th Aug, 2007. Obtained NBFC License from Reserve Bank of India on 14th Dec, 2007. Started forming groups from Dec 15, 2007 and first lending operations with effect from 21st Jan, 2008. Will be completing 3 years on 29th August 2010. In July 2010 ... Leer más

Dirección:

47, Whites Road 1st Floor, Deshabandu Plaza

Royapettah

Chennai

600 014

India

Teléfono:

+91 44 43510081

Fax:

+91 44 28522960

Correo electrónico:

info [at] asirvad [dot] org

Website:

www.asirvadmicrofinance.co.in

Principales fuentes de financiamiento:

Grants

Loans

Productos y servicios:

Loans

Buscar (Tipos de Inversión):

Equity

Loans in Local Currency

Donations

% Operaciones que incluyen MF:

91 - 100

Fecha en que se estableció:

Aug 29 2007

Fin de año fiscal:

31-Mar

Current Legal Status:

NBFI

Regulada:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
+ Development goals (ranked by importance)
+ Poverty targets
+ Governance
Has trained members of its board on social performance management
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Loans for agriculture
+ Savings products offered
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
+ Health services offered
+ Women's empowerment services offered
+ Products and services targeting the poor
Products and services specifically designed to target the poor:
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
Recruitment, selection, appointment, induction, terms and conditions of employment, wage and salary administration, performance and potential appraisal, training, development, employee relations, conduct and misconduct
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
+ Poverty measurement tools in use
Grameen Progress out of Poverty Index (PPI)
Per capita household income

Organizaciones relacionadas

Current
Nombre	Relación
Lok Capital	Funding
MFIN	Network Affiliation
Snowwood Infocom Technologies Pvt Ltd.	Vendor

MFI Report