Bhartiya Samruddhi Finance Limited PDF  | Print |  E-mail
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Corporate Identity Number : U74899DL1996PLC081127

Samruddhi is registered with the Reserve Bank of India (RBI) as a Non Banking Finance Company (NBFC) and incorporated as a Company under the Companies Act, 1956, through which credit and technical assistance is delivered. This is the flagship company of the BASIX group.

BASICS Ltd earlier owned nearly 100 percent of Samruddhi with an equity base of Rs 4.5 crore at its birth in the year 1996. Samruddhi expanded its equity base to Rs 20.6 crore in 2001. The additional equity came from the IFC, Washington, Shorebank, Chicago; Hivos- Triodos Fund, Netherlands; the ICICI Bank and HDFC Limited from India. The investment by BASICS Ltd was also enhanced to Rs 9.7 crore, bringing its share of Samruddhi holdings to 49.5 percent.

As on May 31 st, 2014 Samruddhi

  • was present in 26,055 villages in 122 districts spread over sixteen States of Andhra Pradesh, Karnataka, Orissa, Maharashtra, Madhya Pradesh, Jharkhand, Rajasthan, Chhattisgarh, Uttarakhand, Uttar Pradesh, West Bengal, Sikkim, Meghalaya, Delhi, Bihar and Tripura;
  • cumulatively disbursed over 3,512,480 loans worth Rs.45,009 million;
  • outstanding were Rs.6,711 million including assigned loans under management;  
  • over 821,582 active loans;

Services Offered

In pursuit of BASIX mission, to promote and support large number of sustainable livelihoods, BSFL has adopted the "Livelihood Triad" strategy through which the company also provides Agricultural & Business Development Services to about one third of its customers through Livelihood Service Providers (LSPs) and Institutional Development Services for producers like MACS for cotton producers, dairy cooperatives.

Information Technology and MIS: The transactions of BSFL are fully computerized using state of the art ERP called DELPHIX. BSFL has an effective MIS system to cater to the needs of various levels of operating structure.

Risk Management & Internal Audit: BSFL has a risk management & internal audit team, which monitors the delivery process as well as quality of various services offered. Risk Matrix has been developed in collaboration with Shorecap International, Chicago.

Human Resources: BSFL team comprises of professionals in the fields of Management, Accounting, Agriculture, Social Work, Engineering, Science etc. Total number of staff and livelihood service advisors in the company is over 1,262.


Board of Directors:

  • Mr. Vijay Mahajan

  • vijaymahajan Mr. Vijay Mahajan is the Founder and Chairman of the BASIX Group. Vijay is a distinguished alumnus of both the Indian Institute of Technology, Delhi (1970-75) and the Indian Institute of Management, Ahmedabad (1979-81) and was a mid-career fellow at the Woodrow Wilson School of Public International Affairs, Princeton University, USA. Vijay co-founded Professional Assistance for Development Action (PRADAN) in 1983, Sa-Dhan in 1998, Andhra Pradesh Mahila Abhivrudhi Society (APMAS) in 2000 and Microfinance Institutions Network (MFIN) in 2009. In 1995, Vijay conceptualised BASIX as a “new generation livelihood promotion institution” and it was set up in mid 1996. Vijay served on the Rangarajan Committee on Financial Inclusion and the Raghuram Rajan Committee on Financial Sector Reforms. Vijay co-authored a book “The Forgotten Sector” and has written over 75 articles. Vijay serves on the Boards of major Indian development organisations and has been a member of various committees set up by Government and Regulatory institutions. Vijay is the Chair of the Consultative Group to Assist the Poor (CGAP), a global microfinance forum, comprising nearly 40 bilateral, multilateral and foundations in development. Close
  • Ms. Mary Agnes Houghton

  • Ms Mary Agnes Houghton Ms Mary Agnes Houghton is the co-founder of ShoreBank, the largest and oldest community development bank. Houghton, along with Milton Davis, James Fletcher, and Ron Grzywinski purchased what was then South Shore Bank to fight redlining in the Chicago neighborhood. She retired as its president in May 2010. Houghton serves as a director of the Calvert Foundation, the Rapid Results Institute, and Women’s World Banking. She is a member of the Ashoka Global Academy for Social Entrepreneurship.

  • Mr. James L. Prouty

  • Mr. Anoop Kaul

  • Mr. Anoop Kaul Mr. Anoop Kaul Director based in Delhi, is the National Head, Inclusive Growth Services, of BASIX Group. A post graduate from the Delhi School of Economics he worked with the State Bank of India for 35 years before joining BASIX in 2007. While in State Bank he held senior level positions in the State of Gujarat, Delhi, West Bengal, Andhra Pradesh and Bank’s Central Office and has seen all aspects of banking and financial sector. He was also for 4 years in Govt. of Gujarat as OSD and Dy. Secretary in Industries, Mines and Power Department. Another 4 years stint was as CFO, in SBI Cards, a joint venture of SBI and GE Capital. In BASIX, as National Head of Financial Inclusion, he led the BASIX Team for the Rajasthan’s Bhamashah Women Empowerment Project in 2008 under which 4.1 million BPL families were enrolled for Financial Inclusion in just 60 days, then a global record. Since 2009, he has been overseeing the Common Services Centre Project of BASIX Group which runs 5000 plus outlets in 6 States of India. He is a Director on the Board of BASIX Academy for Building Lifelong Employability Ltd., Mera Gao Power and Vayam Renewable Ltd. as well as founder Member of the Governing Council of CSC Forum and Sahulat Microfinance Society. He has held Director-level positions in few companies in Gujarat and Maharashtra and also been visiting faculty to Administrative Staff College of India, IIM Lucknow, ICFAI Hyderabad and to Training Institutions of various Banks.

  • Mr. Shome Sengupta

  • Mr. Shome Sengupta Mr. Shome Sengupta is a senior banker, and has been in Leadership roles in Banks like Citibank, Standard Chartered Bank and Bank Muscat (Oman) and NBFCs, in India and overseas for over 23 years. Before moving into Banking, he was with Philips Consumer Electronics for > 10 years, in Senior Management roles. Shome is credited with setting up three successful Start Up banks / NBFCs namely ;

    (1) FEDBANK Financial Services Ltd - a 100% subsidiary of Federal bank, of which he is the founder MD & CEO,
    (2) Bank Muscat India,- The start up operations as VP & Head Retail Banking,  
    (3) Mafatlal Finance Co of the Arvind Mafatlal group, - a start up NBFC, which he set up as Executive Director & CEO, Consumer Finance.

    After stepping down as the CEO of Fedbank, he has been advising banks like Ratnakar Bank Ltd (RBL) and IndusInd Bank and a few other NBFCs. Currently he has Joined BASIX Group as National Head, Banking, Financial Services and Insurance Linkages at the group level. Shome has done his MBA and participated in a number of international training programs and seminars related to banking and leadership.

  • Ms. Lalitha Iyer
  • Ms. Farah Rahman

Board Committees

  • Audit Committee
  • Risk Management
  • Asset Liability Management
  • Share Allotment & Transfer
  • Nomination and Remuneration





Current Year's Financials

Previous Year's Financials





Product Specifications

Adoption of Fair Practices Code

Customer Grievance Redressal Mechanism






BSFL is a member of MFIN