Microfinance Scales up in 2015-16

 

Microfinance as a project was started by Humana People to People India in November, 2007 in Bansur Block of Alwar district, Rajasthan to enable economic empowerment of rural women and since then the project has assisted more than a lakh poor women from some of the poorest geographies in the country.

Building social and financial capability of women, HPPI Microfinance had 45,234 active borrowers, organized in Self Help Groups in 2015-16. The robust financial literacy campaigns for Microfinance members, along with the activities such as opening bank accounts, providing access to insurance and pension schemes have notably increased their household income, increased household assets, improved nutritional status and decreased school dropout among borrowers’ children. The women take loans to improve their lives and have gained considerable decision-making power based on their economic contributions to the family economy.

HPPI Microfinance has grown significantly in the last financial year. Through its Term Loan model and Business Correspondence model, HPPI Microfinance has scaled new heights in terms of portfolio size, disbursement, number of beneficiaries and number of branches. 

HPPI microfinance currently operates in five states; Rajasthan, Haryana, Uttar Pradesh, Jharkhand and Uttarakhand, wherein Uttarakhand and Jharkhand are two new additions in the financial year (FY) 2015-16. The portfolio size has considerably grown by 54% from Rs. 46.5 Crore in FY 15 to Rs. 71.7 Crore in Year 2015-16. The active loan clients’ base increased from 30,310 beneficiaries to 45,234 beneficiaries registering an encouraging 49% increase. 

With 8 new districts in FY 15-16, HPPI Microfinance expanded its reach to 18 districts in 1,212 villages across the 5 states. The number of branches has also increased by 80% from 20 branches in FY 14-15 to 36 branches in 2015-16. Humana also launched nine new Branches under IDBI Bank under the Business Correspondent agreement in the states of Jharkhand, Haryana, Rajasthan and Uttarakhand.

HPPI has achieved a new milestone of crossing over hundred crore disbursements in FY 16. It has disbursed Rs. 109 Crore in FY 16 in comparison to Rs. 74.9 Crore in FY 15.

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About HPPI

Humana People to People India is a development organization registered as a not-for-profit company under section 25 of the Companies Act, 1956 as of 21st May 1998. It is a non-political, non-religious organization. Its mission is to unite with people in India in order to create development in the broadest sense through the implementation of the projects that aim at transferring knowledge, skills and capacity to individuals and communities who need assistance to come out of poverty and other dehumanizing conditions.

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