Microfinance News Digest

Basix and Micro Home solutions join hands to provide affordable housing to urban poor

Bhartiya Samruddhi Finance Limited, the flagship company of the BASIX Group, has entered into a strategic partnership with micro Home Solutions; a Delhi based social housing enterprise to provide its urban customers with technical assistance to complement its housing loan products for low income/ informal sector households. This follows the launch of BSFL’s national Urban Strategy in Jaipur last month.

BSFL Chief Operating Officer D. Sattaiah explained the rationale behind the partnership. “Providing housing finance and technical assistance to low income households, especially in the informal sector, contributes to enhancing the quality of livelihoods,” Sattaiah said. “We see immense potential in this unique service. By partnering with mHS, we can deliver safe and affordable housing solutions to our customers. The BASIX-mHS Product will ensure both timely financial and quality technical assistance in their home improvement projects”

micro Home Solutions was founded by young professionals, Rakhi Mehra and Marco Ferrario last year to address the diverse housing needs of the poor and low income households.

“Housing and livelihood security are inextricably linked. Influencing self-construction practices through access to technical assistance can significantly improve quality of living of million households,” Marco, co-founder and architect leading the venture explains. “BASIX will bring a wealth of experience into our partnership, both as a financial partner and as the premier livelihood promotion institution in the country” adds Rakhi, a recent Harvard Business School graduate and Managing Director of mHS.

The partnership will begin in April with a pilot in New Delhi.

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