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Samasta microfinance limited

samasta microfinance limited

Internal Audit - Branch Manager

Organization Profile

Samasta Microfinance Limited began operations in March 2008 with an aim to provide financial services to the urban and rural poor in the southern and western states of India.

Our early market survey among agricultural labourers, artisans, and industrial workers revealed the non-availability of formal financial institutions in these areas. Moneylenders with their astronomical interest rates continue to be the most commonly availed monetary support. This sets off an endless cycle of debt and the inability to rise above it.

Samasta focuses on bridging the gap between ambition and achievement of the working poor across India, by providing financial and non-financial services, in a sustainable long-term relationship and enable them to achieve a better quality of life.

Samasta, as a Non Banking Financial Company, believes that the way forward lies in microfinance which empowers individuals and enriches communities. By alleviating financial stress among the poor and offering an opportunity for income-generation,

it helps improve the quality of life. The micro loans can be used to pay off outstanding debts borrowed from local money lenders at very high interest rates, start small businesses, pay educational expenses and for emergency health services, which are the primary requirements of the people we cater to.

In addition to microfinance, Samasta also offers a host of non-financial services, including life insurance, health insurance and financial counseling to its members. Furthermore, Samasta will partner with technical training institutes to provide skills development for the children of our members.

We are currently operating in Chennai, Kancheepuram, Vellore, Krishnagiri, Coimbatore and Nilgiri districts in Tamil Nadu, and Bangalore in Karnataka. In the next three years, Samasta will be operational in Maharashtra, Gujarat and Madhya Pradesh. By 2013, we plan to reach 1.8 million people in India.

We believe that social change is possible through a robust microfinancing business model that will be beneficial to our members and investors alike.

Category: Payday loans

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