Ujjivan Financial Services Private Limited, India



Ujjivan Financial Services Private Limited (UFSPL), a partner of Grameen Trust has received the "Microfinance Process Excellence Award" (MPEA) in November 2008. The award giving ceremony was held at the Ashok Hotel in Delhi and the award was sponsored by ABN AMRO and Royal Bank of Scotland Group (RBS) in partnership with Planet Finance India.

Ujjivan Financial Services Private Limited (UFSPL) received the "Microfinance Process Excellence Award" (MPEA) in November 2008. Ujjivan is now serving 229,334 members, 100% of whom are women. It is enjoying 99.75% repayment rate.

With the aim of serving the poor women in Karnataka, Ujjivan first got registered itself as a non-government limited company in December 2004. Following the effective approach of Grameen Bank model it opened its first branch in Bangalore, the capital of Karnataka. At the initial phase of its project operation it received seed capital fund from Grameen Trust amounting to USD 50,000 (Rs. 2,260,500.00) for its onlending purposes in 2005.

Ujjivan is now one of the fast growing MFIs in India. It is currently operating in 43 districts of ten States; Karnataka, Tamil Nadu, Rajasthan, Uttar Pradesh, Haryana, West Bengal, Jhakhand, Orissa and Maharashtra. Currently it is implementing microcredit program through 4 regional hubs located in Bangalore, New Delhi, Kolkata and Pune with its 48 urban and 77 semi-urban branches. It offers Education loans, Housing loans, Health loans, Family loans, Top up loans, Business loans and also life insurance to its clientele.

Ujjivan is now serving 229,334 members, 100% of whom are women. It is enjoying 99.75% repayment rate. It has a loan outstanding of Rs. 1,280 million. It has achieved 89% operational self-sufficiency and 86% financial self-sufficiency in a very short period of time.