JanPragati Competitors

There were many microfinance institutions active in rural India, but very few served India’s urban population. To bridge this gap, Ujjivan focused on the urban poor. This is a fast growing segment that is relatively new to India’s microfinance industry. Our surveys and interaction with the urban poor show that they are exposed to enormous contingencies and are required to share their meagre resources with neighbors, friends, relatives and colleagues. Hence, there is a tremendous amount of bonding and affinity among them. We have also found that, contrary to popular belief, the urban poor are a stable population. Therefore, the significant difference between the urban and rural population is the lack of time and availability of space in cities. Our primary target customers are women because research has shown that they are a better population segment for microfinance. They are proven to spend a larger portion of their money on the welfare of their family and therefore create systemic changes needed to move their families out of poverty. The lending alternatives for poor women, besides MFIs, are comprised of moneylenders and other high cost, typically unreliable services. Our strategy, products and distribution methods began based on the results of an 18 month pilot program and an extensive market research study, both based in Bangalore, and has evolved over the past three years based on our findings and experience in each of our regions. From our research and experience, we have found that income is not a reliable determinant to establish economic status of the urban poor, so we also consider a variety of factors other such as housing, occupation, education, expenditure etc. Unlike in rural areas, a substantial portion of the urban poor are employees with salary income, working in the unorganized sector as housemaids or cooks and the organized sector in factories, hospitals, offices and hotels. The self-employed are mainly vendors, small shopkeepers, tailors, etc

Bharat Financial Inclusion Limited is a 100% subsidiary of IndusInd Bank Limited with presence across 21 states covering 1,20,000 villages

Set up on April 2, 1990 under an Act of Indian Parliament as a principal financial institution for: -- Promotion -- Financing and -- Development of industries in the MSME sector and -- Co-ordinating the functions of other institutions engaged in similar activities. Provision and Charter: SIDBI was established on April 2, 1990. The Charter establishing it, The Small Industries Development Bank of India Act, 1989 envisaged SIDBI to be "the principal financial institution for the promotion, financing and development of industry in the small-scale sector and to co-ordinate the functions of the institutions engaged in the promotion, financing or developing industry in the small-scale sector and for matters connected therewith or incidental thereto". Business Domain of SIDBI: The business domain of SIDBI consists of small-scale industrial units, which contributes significantly to the national economy in terms of production, employment and exports. Business Strategy of SIDBI: The business strategy of SIDBI is to address the financial and non-financial gaps in the MSME ecosystem. Financial support to MSMEs is provided by way of (a) indirect finance / refinance to banks / financial institutions for onward lending to MSMEs and (b) direct finance in the niche areas like risk capital, sustainable finance, receivable financing, service sector financing, etc.