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India: Country Overview |
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India has a rich history of microfinance, shown by the abundance of self-help groups and microfinance NGOs. The government is supportive to the transformation of NGOs into regulated Non-bank Financial Companies (“NBFCs”). Earlier than in any other country, commercial banks in India also have recognized the attractiveness of the microfinance sector and are now providing wholesale loans to MFIs on a large scale. This has resulted in a relatively efficient and, based on regional standards, highly commercialized microfinance sector. In addition, commercial investors also have shown great interest in the Indian microfinance sector as demonstrated by the recent capital increases of three large MFIs: SKS Microfinance, Share Microfin and Spandana.
Despite these favorable conditions, MFIs still serve only about 8% of the estimated potential demand. High-potential MFIs have relatively good access to debt funding. |
Figures in million
|
Population
Demographics |
Microfinance
Demographics |
|
Country |
Total
Population |
Below
Poverty
Line(%) |
Rural
(%) |
Urban
(%) |
Estimated
# MF Clients |
Currently
Served |
Served
(%) |
|
India |
1,185 |
28.6 |
70 |
30 |
140.68 |
10.74 |
7.63 |
Status of ASA International (ASAI) in
India-
ASA International has been the owner of majority share
capital of
ASA International India Microfinance Pvt. Ltd, an NBFC and started micro lending on 4th
of July, 2008. |
|
Main Product and Feature
|
Context |
Small/General Loan |
Small Business/ Small Enterprise Lending |
|
Loan Ceiling (1st
loan) |
INR 10,000/USD
200 |
INR 50,000/USD
1000 |
|
Increased in
later Ceiling |
Up to 3000/USD
60 |
Up to 10000/USD
200 |
|
Insurance/Upfront interest |
1% |
1% |
|
No. of
Installments |
45 |
45 |
|
Loan Duration/
Period |
01 year |
01 year |
|
Processing Time
for 1st Loan |
2 week |
2 week |
|
Grace Period |
1 week |
1
week |
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Operational Coverage
At present, ASA International India Microfinance Pvt. Ltd. is working in West Bengal State
covering ten (10) districts named Kolkata, North 24 PGs, Howrah, South 24 PGs, Nadia, Hooghly, Murshidabad, Siliguri, Burdwan, and Midnapore along with the
expectation of expanding in other states gradually.
Source of Fund:
Shareholder’s equity
Performance
(started
lending in July, 2008)
|
Particular |
Up to December 2009 |
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No. of Borrowers |
116,674 |
|
No. of Loan Officer |
364 |
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No. of Borrowers per Loan Officer |
321 |
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Loan Outstanding (Principal) U$$ |
12,724,722 |
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Avg. Outstanding per Borrower (U$$) |
109 |
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Portfolio per Loan Officer (U$$) |
34,958 |
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Contact:
india@asa-international.com
Phone: +91 33 23358509-8511
Head
Office:
IB-163, Sector-III, Salt Lake City, Kolkata-700106, India
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