Village Financial Services Private Ltd.

Misión:

To strengthen the socio-economic condition of the society by providing financial and other support services mainly to the poor women in a sustainable manner

Antecedentes y principales retos:

In 1978, during devastating flood in West Bengal a group of like minded young people formed the ‘Village Welfare Society’ in Howrah district to save the life of flooded people. In 1982 , Village Welfare Society was registered as a Grant Based Non Profit Organization. For sustainable socio - ... Leer más

Dirección:

Village Tower, F- 15, GEETANJALI PARK 18/3A Kumud Ghoshal Road, ARIADAHA,

KOLKATA

WEST BENGAL

INDIA-700 057

India

Teléfono:

+91 33 2564-6545

Fax:

+91 33 2544 3240

Correo electrónico:

contact [at] village [dot] net [dot] in

Website:

www.village.net.in

Principales fuentes de financiamiento:

Loans

Shareholder Capital

Productos y servicios:

Loans

Insurance

Training and Consulting

Productos:

Pragati (Loan) Services - 1) Insurance 2) Capacity building training 3) Workshop to guide for marketing of products 4) Consultation 5) Financial Literacy

Servicios proporcionados:

Health

Education

Other

Buscar (Tipos de Inversión):

Equity

Loans in Local Currency

Loans in USD

Guarantees

Capacity Building Grants

Other Investment

Equity investments

Loans in EUR

% Operaciones que incluyen MF:

91 - 100

Fecha en que se estableció:

Jan 23 2006

Fin de año fiscal:

31-Mar

Current Legal Status:

NBFI

Regulada:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
Clients living in rural areas	2
Clients living in urban areas	3
+ Development goals (ranked by importance)
Increased access to financial services	1
Gender equality and women's empowerment	2
Development of start-up enterprises	3
Poverty reduction	4
Employment generation	5
+ Poverty targets
Poor clients
Low income clients
+ Governance
Has trained members of its board on social performance management
Has a formal board committee that monitors social performance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Financial literacy education
+ Health services offered
+ Women's empowerment services offered
Leadership training for women
+ 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.
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
Flat interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Outreach to women
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use
Grameen Progress out of Poverty Index (PPI)

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