Bhartiya Samruddhi Finance Limited (BSFL), a company of BASIX group and among the top 5 microfinance institutions in India has formally launched its micro housing loan product with the inauguration of its first customer’s house in the last week of July, 2010 in New Delhi.
The product has been rolled out with technical assistance from Micro Home Solutions (MHS) and customers will be givenloans upto Rs 3 Lakhs under it’s micro housing loan product..BSFL plans to soon roll out it’s micro housing loan product to more than 21 cities across India.
Speaking on this occasion to the media, Mr Vasu, Sr. Manager-Micro Housing Division, BSFL said that BSFL is extremely happy to address the housing problem of India’s poor through this unique product. He also added that this new micro housing loan product would help in improving the living conditions of the unorganized urban poor.
A company official said that Bhartiya Samruddhi Finance Limited (BSFL) has been trying to provide un bankable customers access to credit at a reasonable cost and an affordable housing loan for marginalized sections of urban India is a critical linkage in enhancing the livelihood mission for Basix.
About the BASIX Group:
The BASIX Group is a conglomerate of Financial and Knowledge based social enterprises co promoted by Vijay Mahajan and founded in 1996. BASIX is working with over a million and a half customers, with over 90% of them being rural poor households and about 10% urban slum dwellers.
BASIX currently has operations in 16 states, 222 districts and over 29,270 villages. It has a staff of over 8,000 of which 80 percent are based in small towns and villages. BSFL plans to go for an IPO in 2012.