Grama Vidiyal
Company type | Tiruchirapalli, India |
---|---|
Number of locations | 298 |
Area served | Tamil Nadu, India |
Key people | S. Devaraj, chairman and managing director Arjun Muralidharan, CEO Shirley Devaraj, COO |
Products | microfinance microinsurance networking and federation |
220 | |
Total assets | 2.29. INR (2018) |
Number of employees | 2242 |
Website | http://www.gvmfl.com/ |
IDFC Bharat Ltd is a
History
In 2007, Grama Vidiyal transformed from a charitable trust to a regulated Non-Bank Financial Company (
Loan products
Grama Vidiyal offers a variety of loans to its members.[3]
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[4][5]
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.[6] In 2016, Grama Vidiyal was acquired by IDFC First Bank Ltd (formerly known as IDFC Bank Ltd) and name was changed to IDFC Bharat Ltd from Grama Vidiyal.[7][8]
See also
Notes
- ^ "IDFC Bank buys Grama Vidiyal Micro". www.thehindubusinessline.com. 25 July 2016. Retrieved 14 April 2022.
- ^ Grama Vidiyal grows its loan portfolio newspaper
- ^ "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.
- ^ "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.
- ^ Roth, James; Churchill, Craig; Ramm, Gabriele; Namerta (September 2005), Microinsurance and Microfinance Institutions: Evidence from India (PDF), International Labor Organization (ILO)
- ^ 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
- ISSN 0971-751X. Retrieved 31 March 2024.
- ^ "IDFC Bank acquires Grama Microfinance". The Indian Express. 13 July 2016. Retrieved 31 March 2024.
External links
- The Grameen Foundation
- ASA-GV, The Activists for Social Alternatives - Grama Vidiyal
- Sa-Dhan, The Association of Community Development Finance Institutions
- Unitus Group, Market-based solutions to global poverty