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.

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 James Lawrence Prouty - Chair & Independent Director

  • Mr James Lawrence Prouty Mr James Lawrence Prouty, Chair & Independent Director is native of New York, Jim started his professional career with Chemical Bank (now JPMorgan Chase) in Manhattan after Graduating from Brigham Young University. Later Jim completed his MBA at Columbia University and then joined Bank of America in 1975. During his 21 years at the Bank, Jim ran various corporate banking businesses with increasing responsibility in Los Angeles, Mexico City, New York, London, Brussels, Amsterdam, Frankfurt and Paris. In 1995, Jim was appointed Senior Vice President and Head of Continental Europe headquartered in Paris. A common thread running through all of Jim’s assignments was streamlining and then rebuilding businesses for growth. In 1997, Jim joined Heller Financial in London and was later appointed President of the International Group with global responsibility for Heller’s 22 international businesses. Heller was purchased by GE Capital in 2001. The following year, Jim and some former colleagues founded Eclosion, a consulting company engaged in business transformation. During the last three years Jim has become actively involved in the Microfinance sector with business assignments in Mexico, Pakistan and India. Throughout Jim’s career, he has contributed his time to a number of non-profit organizations. He has been President of the American Chamber of Commerce in Brussels; Chairman of the European Council of American Chambers of Commerce; Chairman of the US Trade and Investment Center; an active participant in European fundraising efforts for the US Presidency and various US Congressional races; and among other good causes has been involved in The United Way, Boy Scouts of America and The Duke of Edinburgh Award. Jim has also written numerous business articles and is the author of “Monkey Business” a children’s book.

  • Ms. Mary Agnes Houghton - Independent Director

  • Ms Mary Agnes Houghton Ms Mary Agnes Houghton, Independent Director 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. Asokkumar Rathnam

  • Mr Asokkumar Rathnam Mr Asokkumar Rathnam is the Chairman and Managing Director of Sarvodaya Nano Finance Limited (SNFL). He is also the Chairman and Managing Director of Sarva Jana Seva Kosh Ltd, an MFI belonging to ASSEFA group. He is a Post Graduate in Economics from Madras University, a Certified Associate of Indian Institute of Bankers, and also a Certified Public Accountant from USA. He has 36 years of experience in banking of which 22 years were in State Bank of India. He retired as the Executive Director of Axis Bank.

  • Dr. Lalitha Iyer - Independent Director

  • Dr. Lalitha Iyer Dr. Lalitha Iyer, Independent Director has a doctorate in Economics, is a Professional Member of Indian Society for Applied Behavioural Sciences (ISABS) and an Associate Member of the Institute of Bankers. She has several years of experience working in the State Bank of India in various capacities. In SBI, she had served as a Faculty Manager in State Bank staff college where she was involved in designing and conducting training programmer for middle & senior manager of SBI including Faculty Development Programmer (TOTs), Programmes on Marketing, Financial Management, Managerial Skills, Research Methodologies. Presently she is the Senior Consultant in ThinkSoft Consultants Pvt. Ltd.

  • Mr. Anoop Kaul - Director

  • 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.

  • Ms Farah Rahman - Director

  • Ms Farah Rahman Ms Farah Rahman, Director is an Advisor, Development Initiatives for North East India for the BASIX Social Enterprise Group. She received her Bachelor's degree in Journalism from the University of Minnesota in Minneapolis and went on to earn a Juris Doctorate degree from Golden Gate University School of Law in California. She attended the Comparative International Criminal Procedure Program at the University of Bologna in Italy and the Institute on World Legal Problems at the University of Innsbruck in Austria. She practiced criminal law in the US for several years, serving as a Public Defender in Minnesota before she returned to India. Her career in India started at the Center for Development Communication in Hyderabad, where she produced a film on NDDB’s rural women entrepreneurs and where she trained NGOs in communicating effectively through photography, films and print. She also gained extensive experience in technology start-ups and business development, having headed and consulted with companies focusing on innovative bilingual operating systems and computers. Working on political campaigns, developing eco-tourism and human rights issues are other areas of interest where she has significant expertise. She was a Columnist at Mint, one of India's most respected business newspapers’ before joining BASIX.

Board Committees

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






Product Specifications

Adoption of Fair Practices Code

Customer Grievance Redressal Mechanism