Bhartiya Micro Credit

Mission:

To provide equitable acess of financial and allied services to the poor women living below poverty line & lower income households to enhance their quality of life in a sustainable manner.

Background and Main Challenges:

Bhartiya Micro Credit is a micro-finance company registered & licensed as not for profit making company (Non deposit taking) under Section-25 of the Companies Act-1956 and exempt from the provisions of Chapter

Address:

645A/057, P-15, Sector-I, Janki Vihar, Jankipuram

Lucknow

Uttar Pradesh

226021

India

Phone:

+91 0522-2730975

Email:

bmclko [at] gmail [dot] com

Website:

bmcindia.co.in

Main Funding Sources:

Loans

Services Provided:

Other

Looking for (Investment Types):

Equity

Loans in Local Currency

Capacity-Building Grants

Donations

% Operations Comprised by MF:

91 - 100

Date established:

Jan 17 2008

Regulated:

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
Poverty reduction	2
Employment generation	3
Growth of existing businesses	4
+ Poverty targets
Very poor clients
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
Microcredit for household needs/consumption
Loans for agriculture
rickshaw, trolly, pushcart and buffalow rearing micro lendings.
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance
+ Voluntary insurance products offered
Voluntary life insurance
Voluntary health insurance
accidental insurance, medi claim insurance, asset insurance, theft insurance, fire and damage insurance.
+ 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:	Rickshaw Sangh Program, in this program we provide assets to our clients.
+ 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
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Outreach to women
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use
Grameen Progress out of Poverty Index (PPI)

Partnerships

Current
Name	Relationship
MicroSave	Partner
Trust Microfin Network	Funding

MFI Report

Select i

Social Performance Profile

Partnerships

At a glance

Contacts

Share this Profile

Global Partners