Ujjivan’s mission is to provide financial services to the economically active poor, to enable them to lead a ‘better life’.
Ujjivan's goals are:
- Customers free of poverty in 5 years - Serve 500,000 customers in 6 years. - Break-even in 3 years & long term ... Read more
Ujjivan’s mission is to provide financial services to the economically active poor, to enable them to lead a ‘better life’.
Ujjivan's goals are:
- Customers free of poverty in 5 years - Serve 500,000 customers in 6 years. - Break-even in 3 years & long term ROE-15% - Offer employees a professionally and financially rewarding career - Collaborate with institutions focused on childcare, education, health, vocational training, community development, shelter & disaster relief Hide
Background and Main Challenges:
Financial services provided to the poor from the organized financial service sector in India is abysmally insignificant. Hence one of the key resources to overcome poverty is not accessible to the poor. The Government has a number of programs and expends vast resources for poverty alleviation ... Read more
Financial services provided to the poor from the organized financial service sector in India is abysmally insignificant. Hence one of the key resources to overcome poverty is not accessible to the poor. The Government has a number of programs and expends vast resources for poverty alleviation but they are bogged down by corruption & poor execution. A number of efforts have also been made by NGOs through micro-finance to achieve inroads into poverty alleviation. Their efforts have been hampered by inability to attain viable results due to operational inefficiencies & not being able to scale up. These programs have been largely focused on the rural poor despite the very large number of urban & semi-urban poor.
Ujjivan is an unique attempt as we combine the front-end systems (customer acquisition & relationship management) and products of the highly successful micro-finance institutions like Grameen Bank, Bangladesh with the operational, technology and distribution efficiencies of modern retail banking.
We feel that in order for us to scale up, it is essential to establish ourselves as a viable institution. The poor are ready to pay a viable price for the financial services.
Successfully run micro-finance institutions have very low credit cost even compared to the best retail banking businesses in the world. The challenge is to economically deliver the service whose unit size is small & the customers in the rural areas are widely dispersed. Today, with the development of retail banking technology, both in terms of processing capacity & innovative distribution vehicles, will help us overcome the challenge of containing operational costs within manageable proportions
Our goal is poverty alleviation by providing one of the resources (finance) & we will track this as a key success indicator of the organization. Hide
Address:
#93, Jakkasandra Extension
Sarjapur Main Cross Road
1st Block, Koramangala
MFI Report
