Partners-B&DC – UAT

Partners – Business & Development Correspondents & Facilitators
The group based lending approach, which was pioneered in India by NABARD has been recognized world over. The same has been adopted by NABFINS in meeting the credit needs of the poor and needy who does not have assets / collaterals.  The social collateral emerging from the group dynamics, peer pressure are leveraged to extend credit to the poor.  The Self Help Groups (SHGs) / Joint Liability Groups (JLG) are utilized as a tool for credit delivery.

Understanding and recognizing the role played by the Community based organizations in the form of NGOs, Trusts, Producer collectives in promoting and nurturing the concept of self help, the company has empanelled such agencies, who have connect with the needy as partners.  Such an approach not only enables faster outreach to the needy, but also helps in identifying the needy persons and assessing the credit worthiness in a cost effective manner.

These partners, Business  & Development Correspondents/ Facilitators are expected to undertake the following activities

1. Promoting, nurturing and monitoring of groups
2. Identification of borrowers;
3. Collection and preliminary processing of loan applications including verification of primary information/data;
4. Creating awareness about products, provide advice on managing money and debt counselling;
5. Processing and submission of applications to NABFINS;
6. Promotion and nurturing SHGs/ JLGs/ producers’ groups ;
7. Post-sanction monitoring;

These are more than 300 such partners agencies at present, of which about 200 are active.
Interest rates on loans
As per the mandate of the Company, the rate of interest charged by the Company on the loans is the lowest among all the NBFC MFIs in India.

As per the mandate of the Company, the rate of interest charged by the Company on the loans is the lowest among all the NBFC MFIs in India