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Microfinance in Lucknow

Microfinance is a form of financial services for those who want to start their own ventures own business. It is also is seen as a boon for those who don’t have access to banking and its related services. The basic aim of Microfinance is to provide help to poor people without any security. The formation of self-help group among women in India has led to the opening of more Microfinance institutions in India. The concept to Microfinance as a bank came from Muhammad Yunus winner of Nobel Prize who founded Grameen bank in Bangladesh. In India NABARD followed the idea and formed Microfinance with NGOs, SHG and banks.

Microfinance Companies in Lucknow

Microfinance is developed in a big way in India and it has become a movement in India. The SHGs which started their movement in rural India has spread its wings to cities. All metropolitan has now SHGs and Lucknow has followed suit. Microfinance is defined as giving all kinds of services given by commercial banks such as savings bank accounts, insurance and providing fund and credit to poor people and helps them to improve their living standards. The main points of Microfinance is this
Giving loans to poor without any security who are in below poverty line or (BPL) self help group or SHG members can also avail loan maximum loan amount is Rs 25,000 and the rules are decided by NGOs. On the above guidelines the microfinance institutions operate in Lucknow and in India. Many individuals and SHGs availed loan facilities. They are prompt in repaying their loan and come out of poverty line.

Microfinance Companies in Lucknow


All scheduled Microfinance companies which complied with the rules and regulations formulated by Reserve Bank of India (RBI) have their offices in Lucknow. Some companies have their head offices in Lucknow.  Some of best known Microfinance companies have opened their branches in Lucknow and offer their services.
  • SKS Microfinance Company (SKS)
  • Cashpor micro credit (CMC)
  • Spandana Sphoorthy Financial ltd (SSFL)
  • Share Microfin Limited (SML)
  • Asmitha Microfin Limited (AML)
  • Fusion Microfinance Limited (FML)
  • Annapurna Microfinance Private Limited (AMPL)
  • Bandhan Microfinance Limited (BMFL)
  • Utkarsh Microfinance private Limited (UMFL)
  • Sahara Utsarga Welfare Society (SUWS)
 
These Microfinance companies are regulated by RBI and working under the guidance of experts in banking industry who have many years of experience in the field. These Microfinance companies have good base among customers and have enough capital to function. They have excellent record of good management control and audit system.

SKS Microfinance


SKS Microfinance is working under the regulations of RBI (Reserve Bank of India). Its main aim is to remove poverty and work for the upliftment of poor and to improve their living standards. SKS Microfinance was established in 1997 with its headquarters in Hyderabad. Now SKS Microfinance operates in 19 Indian states. According to CRISIL report SKS Microfinance is adjured as the best Microfinance Company in India and has largest customers in India with more branches and loans.

SKS charges an annual interest rate from 26.7% to 31.4% for its services. With an aim to improve the living conditions of the people in Uttar Pradesh, SKS Microfinance opened its branch in Lucknow. The company has an ambitious plan to serve the poor and in particular women.  SKS Microfinance follows a standard process of processing loan requests. With their active work among women Self Help group (SHG), the company has built an active customer base in Uttar Pradesh and in particular among poor in the city of Lucknow.

The main customers of SKS are street vendors, women and small business holders. They also give training to SHG members in their trade and also support their products through marketing. Using SKS Microfinance many people have come out of poverty and improved their living standards. One particular point with the low income people is that they are prompt in repayment of loans and it is the strength of SKS Microfinance Company.
 
SKS Microfinance Company has entered stock market in the year 2010 with an IPO. The main aim of the management is to finance their growth thus providing assistance to poor and to help them to come out of poverty. SKS Microfinance has overcome all the hurdles and the customer support speaks for its growth.

Also Read:
Economy of Lucknow


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Comments / Discussion Board - Microfinance in Lucknow

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  • A
    Anchal from Lucknow 176 Days ago

    For micro loan

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  • S
    Sunil kumar rathore from Pilibhit 200 Days ago

    Hello,Sir l need job in your company pls.interview date and contact me 7983960754

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  • A
    Anurag from Lucknow 204 Days ago

    I need some money sir so please help me

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  • D
    Dinesh Kumar from Lucknow 224 Days ago

    I have just retired as General Manager from a PSU Bank and looking for any assignment at senior level in any established or proposed micro finance company with base at lucknow. I may contacted Ar 9417003921.

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    R
    Rajeev ranjanfrom Lucknow 50 Days ago

    Dear sir bussnese lone lene ke liye kya paper dena hoga

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  • a
    ajit Kumar Mishra from Sitapur 229 Days ago

    I ajit Kumar Mishra from Sitapur present time working in margdarshak financial services ltd as a Abm profile I want job in Lko

    0 0
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  • D
    Dhruv kumar from Farrukhabad 259 Days ago

    I need the point

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  • s
    sandeep from lucknow 562 Days ago

    Kindly get in touch for better capturing of market.

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  • A
    Akhilesh Singh from Lucknow 565 Days ago

    Dear sir greetings.. Sir monthly pay loan 30000rs immediately

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  • j
    jaimal singh from raebarely 657 Days ago

    very good

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  • S
    Shailendra kumar from Sitapur 701 Days ago

    Job in lucknow

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  • G
    Gyanendra Chauhan from Lucknow 718 Days ago

    What is your financial services / ( rules and regulations )

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  • R
    Rupesh pathak from Lucknow 729 Days ago

    Sir I need some money for start new business Loan amount is 100000 please help me

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  • P
    P K Singh from Lucknow 771 Days ago

    Hello! sir I need Job in your company. Pls Guide me

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  • S
    SACHIN YADAV from FIROZABAD-283203 790 Days ago

    i am sachin yadav from Firozabad(UP) i need full circular of Microfinance bank

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  • p
    pankaj bajpayee from lucknow 812 Days ago

    May I w. H get no for micro fin co bi. N lucknow

    0 0
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  • M
    Manish vishwakarma from Lucknow 817 Days ago

    Job ke liye

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  • K
    Kapil Gupta from Lucknow 817 Days ago

    we are operating a company with name DayBest we need some fund in finance so contact us 8853301490

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  • R
    Rakesh Srivastava from Lucknow (Uttar Pradesh 946 Days ago

    I like to have battery rickshaw for commercial use with the help of micro finance. Your suggestion and process of micro finance required

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    l
    lucknowonline.in Expertfrom 933 Days ago

    Hi!You can approach the agencies to know more about terms and conditions laid down for home loans and finance.

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  • S
    Sneha from Lucknow 1094 Days ago

    A very helpful article! Do you know now lots of IT companies are also have their branches in this city?

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  • R
    R K Dhingra from Lucknow 1353 Days ago

    I am a retired banker. I want to serve in this area for the upliftment of poor people.

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    l
    lucknowonline.in Expertfrom 1346 Days ago

    You can contact any of the microfinance companies mentioned in the article.

    2 0
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    R
    Ram Naresh Yadavfrom Lucknow 1283 Days ago

    Hello Sir,I am Ram Naresh Yadav, I am also intrested for the same, Plz. contact me #7607234249

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    l
    lucknowonline.in Expertfrom 1112 Days ago

    Hi! You can contact the Microfinance companies mentioned in our list for business purposes.

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    A
    Ajeet kuar plfrom Luckow 656 Days ago

    Jis vykti ko job krna ho finance compay me WO 9628562914 par call kre loan lene ke Liye contact kre

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    A
    Ajeet kuar plfrom Luckow 656 Days ago

    Jis vykti ko job krna ho finance compay me WO 9628562914 par call kre loan lene ke Liye contact kre

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    T
    T k Bhattacharyafrom Lucknow 597 Days ago

    I am retired banker having more than 30 yrs of experence in rural development micro finance Tec want job in microfinance companies for upgradatipn of downtrodden people

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    T
    T k Bhattacharyafrom Lucknow 597 Days ago

    I am retired banker having more than 30 yrs of experence in rural development micro finance Tec want job in microfinance companies for upgradatipn of downtrodden people

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    h
    harpal singh chawlafrom lucknow 259 Days ago

    Dear mr Dheengra,We want your services for District Hardoi.kIndly contact on below contact no.Harpal singh chawla8009896592

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    S
    Sumanlata Rastogifrom Lucknow 30 Days ago

    Sir I need RS 20000/ for Modicare business. Please help me to do of it.

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