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    Ujjivan Financial Services

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    Overview about Ujjivan Financial Services Private Limited

    Ujjivan is among the biggest microfinance organisations in India. At the end of January 2015, the company’s gross managed assets amounted to Rs.3038 crores. The operations of the institution are primarily carried out on a model that facilitates joint liability group lending. The technology infrastructures associated with the bank are second to none.

    Established in late 2005, the objective of the institution has remained the same with a view to offering affordable financial solutions primarily to the urban population which constitutes around 10.6 crore people. Although the company began operations with the intention of reaching out to urban customers, it has expanded to a significant extent over time and eventually opened its doors to rural and semi-urban customers as well, which presently constitutes a relatively large portion of its portfolio.

    At present, Ujjivan Financial Services Private Limited has 469 branches in India spread across 21 states and three union territories, having already reached out to over two million customers in rural, semi-urban and urban areas, and helped meet financial requirements for home improvement, micro enterprise, emergencies and education. The organisation’s operations are a result of its concentration on product and service innovation, effective risk management practices, modernised back-end operations and quick credit appraisal processes.

    Products and Services of Ujjivan Microfinance

    Ujjivan Financial Services Private Limited has been customer-centric ever since inception and has a reputation for consistent development of specially tailored products and services that helps in addressing their customers’ needs. Following are the loan facilities that can be availed from the organisation.

    Ujjivan Microfinance Group Loans

    • Business loan: Ujjivan business loans offers finance to self-employed women such as petty shop owners, vegetable and vendors, tailors, etc. to meet working capital requirements and repayment of debts.
    • Family loan: Ujjivan family loans can be availed by low-income women to fund a variety of family requirements including medical care, religious and social obligations, expenses for children, repayment of debt, purchase of consumer durables, etc.
    • Agriculture and allied loan: This loan can be availed by women who need to meet working capital requirements and cost of cultivation related to farming and allied activities.

    Ujjivan Microfinance Value-Added Group Loan Facilities

    • Business top-up loan: Ujjivan business top-up loans are designed to provide extra finance over the course of the year to help customers meet their business requirements. The loan enables borrowers to access extra money in excess of their initial business loan, but only customers who have good credit history can avail this facility.
    • Emergency loan: Ujjivan emergency loans are tailored to address customers’ unforeseen medical emergency needs and is disbursed in less than 24 hours after a request has been made.
    • Education loan: Ujjivan education loan is designed to promote education and finance all education-related expenses such as uniforms, text books, admission fees, etc. of children.

    Ujjivan Microfinance Individual Loan

    • Business loan: Business loans for individuals from Ujjivan Financial Services Private Limited help in addressing the financial requirements of individual micro-entrepreneurs.
    • Livestock loan: Livestock loans for individuals are designed to provide parmers who reside in villages to meet working capital requirements of their livestock business including renovation of cattle sheds, purchase of cattle, purchase of machinery, purchase of fodder, etc.
    • Home improvement loan: This loan offers financial support to customers who are expanding or renovating their houses.
    • Higher education loan: This loan helps customers who wish to sign their children up for higher education.
    • Agriculture loan: This loan offers finance to tenant and marginal farmers who require formal credit, thus helping them meet their differential needs.
    • Secured business loan: This loan offers finance for entrepreneurs to meet their investment requirements and to boost or expand their business provided that land and building are pledged as collateral.
    • Secured home loan: Customers whose finance requirements are high can avail this loan for the purchase or renovation of their homes.

    Ujjivan Microfinance Pragati Individual Loan

    The Pragati Individual Loan is offered to both the open market as well as Ujjain’s existing customers on an individual basis. No guarantor or collateral security is required for this loan and it can be used for a variety of purposes such as business expansion, home improvement, purchase of dairying and milch animals, children’s higher education, farming activities, medical emergencies, etc.

    News About Ujjivan Financial Services

    • Ujjivan Fin Applies for a Small Finance Bank License to RBI

      Ujjivan Financial Services has applied for a small finance bank license for its subsidiary – Ujjivan Small Finance Bank Limited. The application has been sent to the RBI, in pursuance of the in-principle approval that was granted to Ujjivan Financial Services on 7th October, 2015. After a guideline mandate stating that in order to be eligible for operating a small finance bank, the finance company cannot have more than 49% holding, Ujjivan Financial Services trimmed its foreign shareholding by listing into stock market. Ujjivan Financial Services is based in Bengaluru and offers group and individual loans to the economically active poor who do not receive adequate services from financial institutions. The company also grants loans to small and micro enterprises.

      23rd August 2016

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