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Microfinance

Microfinance districts Jan2016

Microfinance - the system of formal institutional credit to the viable, but non-bankable poor, is a pertinent tool in achieving financial inclusion of women and their empowerment. The system, which delivers financial credit to poor women through the Joint Liability Group/Self-Help Group system, has proven to be a major catalyst in achieving the goals of financial inclusion of the marginalized communities, by providing unsecured loans to women for engaging in income-generating opportunities.
Humana Microfinance provides loans to women members in impoverished rural regions of India for a range of income-generating activities with the objective of eliminating poverty. 

Humana Microfinance uses the group lending model where poor women guarantee each other’s loans. Borrowers undergo financial literacy training and must pass a test before they are allowed to take out loans. Fortnightly meetings with borrowers follow a highly disciplined approach and timely schedule. Re-payment rates on our collateral-free loans are more than 99% because of this systematic process.

Humana People to People India has started Microfinance as a project in November, 2007 in Bansur block of Alwar district, Rajasthan to enable economic empowerment of rural women. Since then the project has grown into an independent entity impacting more than 250,000 women members by disbursing a cumulative loan amount of Rs.368 Cr. with a loan outstanding of Rs 93.4 Cr. till 31st March 2018.

Humana Microfinance has achieved high growth, both in terms of its client base and portfolio outstanding. As of 31st March, 2018, Humana microfinance had 59,327 active borrowers in 1824 villages in the districts Nainital, Udham Singh Nagar, Haryana, Gurgaon, Kaithal, Kurukshetra, Mahendragarh, Rewari, East Singhbhum, Alwar, Baran, Bhilwara, Churu, Jaipur, Jhunjhunu, Kota, Sikar, Tonk, Agra, Badaun, Bareilly, Hathras, Mathura in Haryana, Jharkhand, Rajasthan, Uttar Pradesh and Uttarakhand. In the course, it has partnered with agencies like Rashtriya Mahila Kosh (RMK), SIDBI, NABARD, Indian Bank, YES Bank, IDBI Bank Ltd, Manaveeya Development and Finance Pvt. Ltd, Indian Grameen Services, Ananya Finance, Reliance Capital and State Bank of India.

Loan products are offered for improving livelihood of women who are organised either in Self Help Groups or Joint Liability Groups. The loans are typically used for improving agriculture production, dairy production, carpet weaving, small handicrafts, petty shops, vegetable vending, etc. The women who are customers in Microfinance are also often assisted through other non-financial services by HPPI such as livelihood training, financial literacy, plantation of trees, health camps and facilitation of linkages to government schemes. The project has not only helped in income generation but also in gender equality and improved standard of living.

Indicators

Data (As on 31st March, 2018)

No of Villages Covered

1824

No of Groups ( JLG)

14,031

No of Members

59,327

No. of Active Borrowers

59,327

Amount of Loan Disbursed during 2017-18 in Rs (Cr)

119.88

Loan Outstanding in Rs (Cr)

93.4

Repayment rate

93.4%

Average Loan Size in Rs

20,206

 

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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Humana People to People India
111/9-Z, Kishangarh, Aruna Asaf Ali Marg,
Vasant Kunj, New Delhi-110070 Tel: 011-4746-2222
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