SKS Microfinance is India’s largest and the world’s fastest- growing
microfinance organization. It aims to empower the poor by providing them collateral-free loans for income-generation. SKS extends these loans to women who use it to scale up their enterprises and get themselves and their families out of poverty. Started in 1998 as an NGO, SKS transformed into an NBFC in 2005 and is regulated by the RBI. Since transformation, SKS has been successful in creating a for-profit model of microfinance using commercial funds that is scalable. Delivering services at the doorsteps of its members and following clear-cut processes, SKS has been able to ensure a repayment rate of over 99 % on its loans. Borrowers take loans for a range of income-generating activities, including livestock, agriculture, trade (such as vegetable vending), production (from basket weaving to pottery) and new age business (photography to beauty parlours). SKS also provides members with interest-free loans for emergencies as well as life insurance and loan cover insurance to borrowers. SKS has been a sector leader in sourcing capital. In July 2009, Bajaj Allianz made a strategic investment of $ 10 million(INR 50 crore) in SKS Microfinance which was the first-ever investment by an insurance company in an Indian microfinance institution. In November 2008 SKS raised equity worth $ 75 million(Rs 366 crore), the largest equity raised by an MFI in the world. The third round of equity worth Rs 147 crore was raised in January 2008. In March 2006, SKS closed its first round of equity investment; the largest microfinance investment in India to date - $ 3.2 million from some of the world’s leading microfinance investors, and then eclipsed this accomplishment with a second round equity investment of $11.5 million in March 2007. Since microfinance is not suitable for the destitute in society who need not just access to finance but livelihood training, social and health inputs, SKS has a unique Ultra Poor programme for this section of society. Under the programme, the beneficiaries receive training to run an income-generating enterprise, financial education and an asset. Over an 18-month period these beneficiaries are trained to become self-sufficient and graduate into regular microfinance. The first phase of the Ultra Poor programme was conducted in medak district of Andhra Pradesh where nearly 500 women were covered. In all, 426 women have successfully graduated from this programme. In the next phase, the Ultra Poor Programme is being planned in some of the poorest districts of Odisha and Jharkhand. SKS was ranked as the Number 1 MFI in India and number 2 in the world by MIX Market, world’s leading business information provider for MFI industry. Business Week, an international magazine has rated SKS as one of the most influential companies. SKS has received numerous awards including the CGAP Pro-Poor Innovation Award, the ABN-Ambro/Planet Finance Process Excellence Award, Citibank Information Integrity Award, the Digital Partners SEL Award, and the Grameen Foundation USA Excellence Award. SKS is the only MFI in India to receive the MIX Transparency Certification. SKS was selected by Unitus as the most promising microfinance organization in India. .
it allows the beneficiary to make premium payments as low as Rs 45 per month. SKS said.com
Bajaj Allianz Life. India India Vikram Akula Chairperson and founder. Designed specially for members of SKS Microfinance. a press release issued here today stated. Kamesh Goyal."
. said. "with this partnership.sksindia. called Swayam Shakti Suraksha.
"Swayam Shakti Suraksha is designed specifically for the poor and keeps in mind the needs of our members. The product will create a sense of financial security amongst our members. we will overcome our biggest challenge of being able to extend our product and services economically to micro-insurance customers who pay premiums of less than Rs 50 per month.SKS Microfinance
Type Industry Founded Headquarters Area served Key people Employees Website
NBFC Finance 1998 Hyderabad. CEO and Founder." Vikram Akula. SKS Microfinance in tie-up
Mumbai: Bajaj Allianz Life Insurance and SKS Microfinance have joined hands to launch a group insurance product for micro-finance organisations.
The product offers protection and investment with flexibility and is designed on the lines of a standard endowment policy. Suresh Gurumani CEO. which is distributing the product.Managing director over 20000 http://www. Bajaj Allianz Life Insurance's CEO and Regional CEO of Allianz.
18 Millions) to 6.” company COO M R Rao said in a press release.
SKS.78 Million women in India (March’10). India’s largest microfinance company. corporates and best-practice microfinance and enterprise development institutions. A lot of importance is given to the inculcation of the SKS value system in the conduct of our daily work. Hospitalisation cover and Group personal accident cover. At SKS we seek people who love to think creatively and are enthusiastic to deliver. and enjoy high responsibility comparatively early in their careers. learn and to grow.
We have a very healthy organisation culture. We are committed to offering a challenging and satisfying work environment with excellent opportunities for career advancement.Way of working of SKS MICROFINANCE
“It’s the hard work and discipline of our members who repay us back on time that has helped us grow along with the confidence our investors have in us and the processes and systems that our staff follow diligently. a milestone in its lending history. has crossed five million clients. broaden their horizons and make their mark at work.
. launched in 1998 is one of the fastest growing Microfinance Institutions in the world having provided approximately INR 143.90 million (USD 957. Hyderabad-based SKS Microfinance.an environment where one is encouraged to question.
SKS provides competitive compensation to its employees and apart from this employees are provided with benefits like Life Insurance cover. SKS is an equal opportunity employer with a culture of meritocracy where every individual is valued and respected for who he or she is and what they add to our diversity.206.87 billion (March’10) and has loans outstanding to the tune of INR 43. Our employees are drawn from top management schools. It is our promise to help our employees to learn and grow.
Vice-President of Marketing at agri-business company Syngenta India Ltd.” Amit Mehra of Reuters Market Light.
How they have position in the rural marketSKS Microfinance. guidance on efficient farming techniques. First. SKS currently has 3. is the distribution of agriculture-related information to rural farmers. such as local crop prices and weather conditions. production.Learning and Development
At SKS learning is a continuous process and we lay emphasis on the acquiring of new skills. EnableM and OnMobile to provide these services. a subdivision of information and consulting company Reuters. the number
. livestock. and a gross loan portfolio of USD 279 million. Entertainment includes sports updates. Kuldeep Kaul.6. supported this statement with figures of 100. timely and personalized information service  While the use of mobile phones for voice communication has proven successful thus far. We have a dedicated team which looks into technical training as well as training in soft skills. and has maintained a lending book of up to USD 425 million. helping to boost their productivity and raise farm incomes. comprehensive.7%. 000 villages who have purchased RML services. According to the MIX Market. and general knowledge . seeds and fertilizers. sceptics of NLT question its utility because of the underlying assumption that users are literate. and ringtones. advice on starting a career. explains what he believes to be the benefits of NLT. and new age business. and an ROA of 3. NLT entails a three-fold approach to bridging the information gap between rural and urban life.7% . SKS reports total assets of USD 596 million. Vikram Akula. “Agriculture is a local business where timely and relevant information dissemination to farmers can help them make better decisions.1 billion in financing. politics. and 30 percent amongst females . “Most farmers have made thousands of rupees in additional profit and reduced losses using the most accurate. and costs of pesticides. Education includes English lessons. jokes. exam preparation. was founded in 1997 by Mr. SKS finances incomegenerating jobs in the following sectors: agriculture. an ROE of 18.5 million active borrowers. a debt-to-equity of 3. 000+ farmers across 10. Nokia Life Tools is designed to offer location-specific personalized information to individual farmers.. Nokia is partnering with Pearson. The MFI has provided upwards of USD 1. the microfinance institution (MFI) partnering with Nokia to launch NLT. world news. the microfinance information clearinghouse. Two additional features offered with NLT are educational resources and entertainment applications. SKS’ mission is to provide financial services for the poor. trade. The literacy rate amongst rural males in India is 58 percent. While NLT may aim to fill a palpable information gap.
such as IBM’s Hyperspeech Transfer Protocol (HSTP). A plausible alternative may be a voice-driven information system.
. This system uses voiceactivated transactions that allow even illiterate people to surf the web and access relevant information in real time.of illiterate individuals in these “emerging markets” may make it difficult for useful consumption of this feature.