Bhartiya Samruddhi Investments & Consulting Services Ltd PDF  | Print |  E-mail
Corporate identity number : U74899DL1996PLC078267

The Holding Company of the BASIX Group is called Bhartiya Samruddhi Investments and Consulting Services Limited (BASICS Ltd.), which started operations in 1996 as India's first "new generation livelihood promotion institution". It set up two fund based companies - Bhartiya Samruddhi Finance Ltd, a micro-finance NBFC in 1997 and Krishna Bhima Samruddhi Local Area Bank Ltd in 2001. Both were among the first in class. It also promoted BASIX Academy for Building Lifelong Employability Limited, BASIX Consulting and Technology Services Limited (formerly known as BASIX Consulting and Training Services Ltd), BASIX Krishi Samruddhi Limited, BASIX Sub-K iTransactions Limited and Ctran Consulting Limited.

BASICS Ltd also started providing fee-based business right from the outset by offering consulting services in microfinance and livelihood promotion, training, HRD and institutional development (ID) and information technology (IT) applications for microfinance and livelihoods.

Board of Directors:

  • Ms. Mary Agnes Houghton - Chair & Independent Director



  • Ms. Mary Agnes Houghton Ms. Mary Agnes Houghton, Chair & Independent Director She is 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.

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  • Ms. Patricia Mukhim - Independent Director



  • Ms. Patricia Mukhim Ms. Patricia Mukhim, Independent Director She is an educationist, activist and journalist. She is currently editor of The Shillong Times, Meghalaya’s oldest English language daily and a columnist for The Telegraph and The Statesman. Patricia Mukhim is a member of the National Security Advisory Board and National Foundation for Communal Harmony, under the Ministry of Home Affairs, New Delhi. Patricia Mukhim was conferred the Padmashree in March 2000. Earlier in 1996, she received the Chameli Devi Jain Award for outstanding woman media person. In February 2008, Patricia received the excellence in journalism award. In January 2011 She was conferred the 2nd North East Excellence Award by The Indian Chamber of Commerce.

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  • Mr. Joeseph Madiath - Independent Director



  • Mr. Joeseph Madiath Mr. Joeseph Madiath, Independent Director He is co-founder and Executive Director of Gram Vikas a Non-Government Organization working with the underprivileged section of rural Orissa. He works in the field of rural development in the areas of education; health, rural energy and infrastructure, livelihood and food security, sustainable environment. Gram Vikas has received several national and international awards in recognition of their work, including the Allan Shawn Feinstein the World Habitat Award, 2003 and World Water Grand Prize, 2006, Joe Madiath was selected as outstanding social entrepreneur by Schwab Foundation, 2000 and by Skoll Foundation in 2006.

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  • Mr. Shailendra Patel - Independent Director



  • Mr. Joeseph Madiath Mr. Shailendra Patel - Independent Director He is a philanthropist and the CEO & Founder of the Sophia and Akash Foundation. Through the innovative Project Sophia mission, growing number of sustainable business models and delivery capabilities have been successfully established since 2010 to help facilitate a sustainable and affordable path out of poverty for the World’s Poor and Unserved, especially within rural, marginalised communities and whenever possible through the women members of their households.With the benefit of a 30 year professional career spanning the successful establishment of technology, financial services and investment banking business models, including the build-out and development of Saxo Bank, the World’s foremost global online investment trading bank from a start-up, Shailendra has elected to invest his available time, resources and energy into the incubation, establishment, development and transformation of innovative institutionalized efforts that can deliver important financial and livelihood products and services to the World’s Poor and Unserved. With successful development and deployment of economically viable recipes for delivering affordable financial services, education, healthcare, clean energy, sustainable farming, skills development, water sanitation and irrigation, sustainable housing and other important “circle-of-life” interventions to both rural and urban communities, Shailendra has sought to facilitate scalable, replicable business solutions across Asia and Africa that afford a sustained path out of poverty for the beneficiary households and their communities as well as deliver double and/or triple bottom-line results for the Project Sophia front-line partners and implementation organisations.

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  • Mr James Lawrence Prouty - Independent Director



  • Mr James Lawrence Prouty Mr James Lawrence Prouty, 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.

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  • Mr. Anoop Seth - Director



  • Mr. Anoop Seth Mr. Anoop Seth, Director He has a Masters in Management Science from the Birla Institute of Technology and Science (BITS), Pilani. He has had a career of over 29 years in the banking sector, in India and the Middle East. He worked with Bank of America, Bechtel Enterprises as Vice President, Chief Financial Officer of Infrastructure Development Finance Corporation (IDFC) and as the Senior Vice President, ABN Amro Bank N.V., Mumbai. Presently, he is the Managing Director of AMP Capital.

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  • Dr. Runa Sarkar - Director



  • Dr. Runa Sarkar Dr. Runa Sarkar, Director She received her BE (Hons) from BITS Pilani; M.Sc. (Environmental Engineering) from University of North Carolina, USA. She has done her Fellow Programme in Management from IIM Calcutta. Her area of specialization is Environment Economics, Environment Financing, Economic Instruments for pollution control, and cost-benefit analysis. She has extensive experience in economic analysis of environmental and social impacts of major projects and has conducted numerous training courses on specific topics in environmental economics and cost-benefit analysis. She regularly works to support the environmental economics activities of bilateral (including CIDA, DANIDA, the European Union, and USAID), and multilateral institutions (including the Asian Development Bank, the United Nations Development Program and the World Bank).

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  • Dr. Lalitha Iyer - Director



  • Dr. Lalitha Iyer Dr. Lalitha Iyer, 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.


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  • Mr. Devarakonda Sattaiah - Managing Director



  • Mr. Devarakonda Sattaiah Mr. Devarakonda Sattaiah, Managing Director has over 24 years of experience including a tenure of 20 years with BASIX Group dealing with Microcredit and Micro Insurance Operations with nearly 2 million credit customers, USD 450 million in loans outstanding and over 3.8 million insurance covers. He has got track record of starting and expanding businesses. Managed the Human Resource function for the same company with over 8,000 people in hundreds of locations. Exposed to some of the best management education in the world at Indian Institute of Management (IIM), Ahmedabad and to all round leadership exposure that is unique to the BASIX Group. He comes with strong hold on operations process, mechanism, planning, tools and monitoring and mentoring practice. He served as Head of Human Resources (HR), Insurance Vertical, Chief Operating Officer (COO) and Director Strategic Products in Bhartiya Samruddhi Finance Limited. He comes with strong familiarity with the rural realities, dynamics and customer knowledge. He is a post graduate in Management with a bachelor degree in Maths, Physics and Chemistry from Osmania University, Hyderabad. He is the designated as Managing Director of Bhartiya Samruddhi Investments and Consulting Services Limited.


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