Grama Vidiyal

Grama Vidiyal Microfinance Limited
NBFC
Industry Finance
Founded 1993
Headquarters Tiruchirapalli, India
Area served
 Tamil Nadu, India
Key people
 S. Devaraj, Chairman & Managing Director
Arjun Muralidharan, CEO
Shirley Devaraj, COO
Products Microfinance
Microinsurance
Networking & Federation
Total assets 1.036 B. INR (2007)
Number of employees
 2242
Website http://www.gvmfl.com/

Grama Vidiyal is a microfinance institution, operating in the Tamil Nadu area of South India. Since 1993, it has provided small loans to women without access to formal credit and who typically have daily incomes of less than INR 80 (USD 2) per day.

History

In 2007, Grama Vidiyal transformed from a charitable trust to a regulated Non-Bank Financial Company (NBFC). Its status as an NBFC brings Grama Vidiyal under the purview of government regulation but will permit the firm to take on larger amounts of equity capital. Grama Vidiyal expects continued rapid growth, reaching more than two million clients by expanding to other states of India with an excess of Rs.15 billion (USD 400,000,000) in loans outstanding by 2012.[1]

Loan Products

Grama Vidiyal offers a variety of loans to its members.[2]

Other Services

Grama Vidiyal is among the largest microinsurance providers in India, and was studied by the ILO for a 2005 case study on microinsurance[3][4]

Investors

Some of the most prominent investors include Vinod Khosla, co-founder of Sun Microsystems and former partner in the venture capital firm Kleiner Perkins. Additional investment has come from the Unitus Equity Fund, a $23.6 million fund which invests in emerging microfinance institutions.[5]

See also

Notes

  1. ↑ Business Standard http://www.business-standard.com/common/storypage_c_online.php?leftnm=10&bKeyFlag=IN&autono=36666 Missing or empty |title= (help)
  2. ↑ "Demand > Search for MFIs > Profile for GV (Grama Vidiyal)". The MIX Market. The Microfinance Information eXchange (MIX). Archived from the original on 26 March 2005.
  3. ↑ "Microinsurance and Microfinance Institutions: Evidence from India - Good and bad practices in Microinsurance – CGAP Working Group on Microinsurance Good and Bad Practices - Case Study No. 15 (Electronic Resource)". International Labor Organization (ILO). 25 September 2005.
  4. ↑ Roth, James; Churchill, Craig; Ramm, Gabriele; Namerta (September 2005), Microinsurance and Microfinance Institutions: Evidence from India (PDF), International Labor Organization (ILO)
  5. ↑ Lee, Jennifer (12 May 2008), MICROCAPITAL STORY: Indian Microfinance Institution Grama Vidiyal Microfinance (GV) Plans Expansion and Receives USD 3.5 Million from Unitus Equity Fund and Vinod Khosla, MicroCapital, retrieved 8 February 2013

External links

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