Janalakshmi Financial Services is one of India’s largest urban microfinance institutions and is headquartered in Bangalore. It currently has more than a million clients which it services through it’s 100+ branches and has a loans outstanding portfolio of around Rs 1500 Crore.
Since it began it’s operations in 2008 , the company has grown rapidly and it recently embarked on a radical new restructuring exercise to reshape it’s entire business practices around the lives of poor people in urban areas.
In the last few years , Janalakshmi gained many new insights about how poor people live, develop products, do business and the various challenges they face to make ends meet on a daily basis. By leveraging this insight Janalakshmi Financial Services now hopes to offer the next generation of financial services for the urban poor in India.
This video below shows how Janalakshmi is going about the process.