ASA International India Microfinance Ltd is a non-banking financial company that provides microfinance services to the underprivileged in India. The company is a subsidiary of ASA International, a global microfinance organization that operates in 13 countries across Asia and Africa. ASA International India aims to empower women through financial inclusion and help them overcome poverty.
History
ASA International India was established in 2008 and started its operations in Uttar Pradesh, one of the poorest states in India. The company has since expanded to other states such as Bihar, Madhya Pradesh, and Maharashtra. ASA International India has disbursed over INR 30 billion in loans to more than 3.5 million clients, out of which 95% are women.
ASA International India provides microfinance services such as group loans, individual loans, and micro-insurance. The company operates through a group lending model where clients form groups and are jointly liable for each other's loans. This model helps in reducing the risk of default and ensures high repayment rates.
Impact
ASA International India's microfinance services have had a significant impact on the lives of its clients. The company's loans have helped women start and expand their businesses, increase their income, and improve their standard of living. The micro-insurance services provided by ASA International India have also helped clients protect themselves against unforeseen events such as illness and death.
Despite its success, ASA International India faces several challenges in its operations. The company has to deal with high levels of poverty, illiteracy, and lack of infrastructure in the areas it operates. The COVID-19 pandemic has also impacted the company's operations, with many clients facing difficulties in repaying their loans.
Future Plans
ASA International India aims to continue expanding its operations in other states of India and reach out to more underprivileged communities. The company also plans to introduce new products such as digital loans and mobile banking services to improve its reach and efficiency.
Conclusion
ASA International India Microfinance Ltd is a leading microfinance organization that has made a significant impact on the lives of its clients. The company's focus on empowering women through financial inclusion has helped them overcome poverty and improve their standard of living. Despite its challenges, ASA International India is committed to expanding its operations and reaching out to more underprivileged communities in India.
Related video of ASA International India Microfinance Ltd: Empowering Women Through Microfinance
