To help build a society where every rural child has access to quality school education and employment oriented Vocational Training, every Rural Micro-enterprise gets the needed finance and every family has access to clean drinking water and an improved shelter.
- To be the pioneer and preferred provider of financial access to Rural parents in the country to access quality Education and Vocational Training for the better future of their children.
- To be a leader in providing financial access to credit starved Rural micro-enterprises
- To be a pioneer in providing access to clean drinking water in rural and semi-urban areas through financing of suitable water Purifiers and dispensers.
- To be a Pioneer in innovating a dedicated Roofing Finance Product for upgradation of Rural homes through appropriate Roofing solutions.
- To create value for all stakeholders by building a profitable business while providing financial access for unmet needs in hitherto underserved areas
- To place the customer’s interest first
- To be transparent and ethical in approach in all dealings
- To be sensitive towards social and environmental concerns
- To encourage teamwork, professionalism and a culture of learning & innovation.
Economically Weaker Sections (EWS) and Low Income Groups (LIG) in rural and Semi-Urban areas
Earlier Innovations in Housing Microfinance
- Incremental Housing: Rural borrowers are psychologically averse to avail a one-time loan with long tenor due to unpredictability of their income over a longer time horizon. They also prefer house construction in incremental stages due to the financial burden. Hence, an appropriate Short Tenor, low EMI financing product was designed for them.
- Use of Semi-formal Title Documents To create a Para-Legal Mortgage:Using community acceptance of residency rights, creation of Para-legal documents using like the Village Panchayat and using these to create a workable collateral for housing and a recognition of the mortgage of the property to the Company.
- Group Lending:Leveraging time-tested and well established group lending mechanisms of Microfinance into housing finance, which was traditionally considered an individual loan product. These Best Practices of Microfinance have been co-opted into Housing Finance viz.,
- Partnership with Grass roots Institutions:Using Community connect of Grassroots institutions like NGOs and MFIs to source clients and collect repayments creating new Institutional Partnerships
- Productive Housing:In addition to the core housing loan, the loans included, wherever necessary, a component for income generating activities to enable borrowers to generate additional income to service the housing loan.
Current Innovations in Financing Education in Rural Areas
- Pioneering access to Education finance for unserved rural families:Identifying the need and aspirations of rural families for providing quality education to children at private schools and vocational institutes and providing the needed finance
- Institution centric model of finance:Active engagement with private schools and vocational training institutes in rural and semi-urban areas to identify among their students, those needing finance for continuance of education thus preventing drop outs.
- Pioneering Finance to the ‘MISSING MIDDLE’ of Rural Entrepreneurs:Providing access to Finance to Rural Micro-entrepreneurs in the segment of Rs.50, 000 to Rs.500,000 not covered by MFIs or formal Financial Institutions like Banks and NBFCs
- Innovative Financial Solution to provide access to Clean Drinking Water: Bringing Technology and Finance to villages to provide access to clean drinking water by facilitating establishment of Water ATMs by SHGs and Rural Micro-entrepreneurs
- Innovative Roofing Finance Solution to provide opportunity to enhance quality of Shelter in Rural areas:Identifying the need for dedicated Roofing solutions for vulnerable rural families, particularly in coastal areas and high rainfall/wind speed zones and pioneering a specialised Financial Product for them.
- Innovative Partnership Model with Grassroots institution and Micro entrepreneurs for effective Rural Outreach