Microfinance in uttar pradesh
Mission: “To work as a credible and sustainable institution, providing financial services for mitigating poverty, and catalysing social and economic transformation”
Vision 2020: “To emerge as a credible and sustainable microfinance institution serving one Million clients by 2020”
Description of key words and phrases in JAAGO’s Mission and Vision statement
Credible: Developing and maintaining the culture of trustworthiness to produce high customer equity. Credibility will help in building a loyal customer base, more loyal the customers the higher the equity.
Sustainable: By giving emphasis on client centric services, refining the service delivery methods, deriving new business development the organisation will work for improving the economic systems that last indefinitely. To bring in overall sustainability the organisation will strive to attract and retain quality human capital.
Financial services: By offering different types of value added financial services to the poor e.g. life insurance, general insurance, health insurance.
Mitigating poverty: Providing a whole bouquet of financial services to the target client base, i.e. economically active poor. JAAGO will try to reach to a large number of client bases through the financial services thus try to reduce poverty. Organisation strives to create an enabling environment for the poor so that they can have easy access to financial services.
Catalysing social and economic transformation: JAAGO believes that India needs change for that it is pertinent to bring about a transformation in the society. The organisation wishes to emerge as a viable alternative to serve the society. JAAGO will maintain the integrity and prestige of the organisation by keeping social mindset with commercial objective. The organisation will strive towards
positive socioeconomic growth of its client base.
Jaago is a not for profit Institution Registered under Section 25 of the Companies Act, 1956. Jaago was registered in august 2007. Jaago is exempted under Section 12A & 80G of the Income Tax Act. CIN Number of the company, Jaago Samajik Arthik & Harit Vikas Sangathan is U75302UP2007NPL033800.
In recent mF state, generally MFIs are working as finance providers to poor, the absence of any regulation on this subject give unconditional pull to the MFIs. Impact on the poor is far slighter. Most of the MFIs are laced with big Strategic Business Plan & outrage. Impact on the poor is almost lost in mF sector. Few likeminded professionals felt the need of the mF in its bona fide mean; hence Jaago was established with the sole objective to help the poor with microfinance & associated tools i.e. mF+. Jaago is an Institution (MFI) not for profit and working for livelihood promotion through mF+ in the five districts of Uttar Pradesh.
In the initial period, Jaago have established mF in Lucknow, Sultanpur and Raibareli; now institution is planning to start livelihood intervention in its present location, and as pilot, Jaago yearning to start the mf+ in the capital of the Uttar Pradesh, Lucknow. Our vision is to serve marginalised poor women with mF+ so that our members may live with due dignity. Jaago help poor with the credit & other linkage support to provide them an opportunity to promote themselves as small entrepreneurs on self sustainable basis. At present Jaago is serving around 4,000 poor urban and rural families.Source: microfinanceinup.blogspot.com
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