...contd...
So, the organization, whose idea was sown in 2006, was
finally launched in 2008 with the backing of ICICI Foundation and the mission
to make credit affordable and accessible to millions of excluded individuals
(mostly poor and low income house holds).
This organization leveraged the power of Internet and
technology and provided online platform for source funding/peer to peer
funding.
Later, one co-founder was elected to the Ashoka Fellowship
in 2012 in recognition of the organization's game-changing efforts to lower the
cost of credit and the organization got funding support from Tata Trusts
in 2015.
In 2017, RBI started regulating peer to peer lending sector.
So, this organization which was earlier operating as Public Charitable Trust
till 2017 had to set up as Pvt. Ltd. Co. and got NBFC P2P license from RBI in
2019. So, as on date, this organization is RBI regulated and became such first
organization in India. Until 2017, this organization had 15000 Social
Investors and 65000 needy Indians were funded Rs. 76 Crores.
And Since Sept 2019 when it went live again (after P2P NBFC license),
it has raised and disbursed Rs. 1.5 Crores (Edit: Rs. 65.56 Crores as on 02.11.23) to needy Indians to start/expand
their micro enterprises. I myself have been Social Investor through this
innovative platform since 2012 and witnessed few of borrowers' economic growth
journey through field visits/personal meeting which this organization provides
to their Investors. The name of this innovative and impact making
portal/organization which is uplifting lives of thousands of poor and low
income Indian households is...
...contd...
Enjoy NOW !!
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