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Madura is a highly efficient, customer focused microfinance institution that serves economically active, rural women in Tamil Nadu.
Founded by the late Dr. Thiagarajan, a respected banker and businessman from Chennai, Madura is now run by his daughter, Dr. Tara Thiagarajan (Chairman) and an experienced management team. Madura has been one of the most cost efficient microfinance institutions worldwide. The company’s objective is to provide cost efficient microfinance coupled with knowledge and information services that raise the human and organizational capability of its borrowers, improving the effectiveness of loans so that borrowers make the most productive use of credit.
Rural Tamil Nadu represents one the largest markets in India with a population of 40 million, 40% of whom live below the poverty line.
Rural Tamil Nadu represents one the largest markets in India with a population of 40 million, 40% of whom live below the poverty line. Tamil Nadu’s GDP growth rate has been over 10% in recent years, but rural GDP growth in the state is less than half this rate at 4-5% per annum. Madura serves self-assembled groups of 15-20 rural women who come together in local communities, guarantee each other’s loans and form
a learning and support group for one another.
Tara Thiagarajan. Chairperson, is primarily a scientist whose interests encompass understanding complex systems and using a science based approach to solve large scale human problems through scalable for-profit enterprise. She has brought her own ideas and knowledge of economic development in rural India to drive customer-centric strategy and holistic product approach. She has an MBA from the Kellogg School of Management where she was an Austin scholar.
M. Narayanan. CEO, has 25 years of experience in the banking industry where he has held key positions as Head of Treasury at Bank of Madura and Head of Treasury at the GMR Group, Bangalore. His earlier career led him through a variety of significant roles at Bank of Madura including Head of Mumbai – Main, the largest branch of the bank, and AGM of Cash Management Services, Merchant Banking and Corporate Banking.
Mohan Eddy. Executive Director, has over 40 years of experience in the manufacturing, IT outsourcing and consulting industry where he has served in various leadership roles. He has co-founded and built several companies, most recently an Enterprise Technology consulting business that is now part of a Top 5 IT Services company. He has a PGDM in Management from the Indian Institute of Management, Calcutta.Source: elevarequity.com
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