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About SMILE MICROFINANCE
Products and services:
SMILE offers - Group Loans. Group Loans are used by women, for income generating activities. SHARE has created this product with an intention to build deeper relationships with clients who want to grow their businesses, and at the same time expand the client base by reaching out to new clients.
India is the largest microfinance market in the world, with the sector growing at an average rate of over 50 per cent. Consequently, it is attracting domestic and foreign investors and new players, who are hoping to practice profitable philanthropy.
Microfinance, or micro-credit, typically comprises very small-sized loans of about INR 7,400 extended to an individual or a group of individuals, which are called self-help groups (SHGs). Borrowers are generally from the weaker sections of society.
The Reserve Bank of India (RBI), the country’s central bank, has urged banks to opt for the SHG model to lend to over 3 Cr small and micro units, to ensure they have easy access to funds.
According to the Intellecap study, the market size for microfinance in India is in the range of 5.8 to 7.7 Cr. clients, assuming the entire poor population of the country represents potential clientele. This translates to an annual credit demand of INR 42,180 Cr. to INR 1.4 Lakh Cr., assuming loan sizes range between INR 7400 and INR 18,500.
India microfinance market is anticipated to grow at a brisk CAGR of more than 40% through 2025, predominantly on account of increasing demand for microfinance loans from the MSME sector. The main objective of microfinance organizations is to give a chance to low-salary borrowers to become self-sufficient.
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Reg Office: 14/25, Chakrapani Street,West Mambalam, Chennai , Tamil Nadu 600033.