The year 2016 has a fair share of the best MFI turnabouts as seen in the distribution of sufficient funds to a large list of the neediest entities big or small. As per financial year, the Microfinance Network Evaluators single-eye all the figures and amounts from loan disbursements, loan portfolio and even clients outreach into a grand total. Partly, the top microfinance companies in India get to be revealed as well in the best Indian MFI list.
The Top Microfinance Companies in India
SKS Microfinance Limited
This small SKS Microfinance Limited financial institution that is started in 2013 has innovated in ways to speed up money exchanges in India. It has since led as number one in the top ten 10 microfinance companies in India. What is most notable about the Company is the listing of its offices to both NSE and BSE. All-in-all, it has employed a number of lives in India and became the top MFI in India. Headquartered in Andhra Pradesh, the broadly-designed system of the SKS Microfinance Limited enhanced the financial exchanges in the city.
Share Microfin Limited
The Share Microfin Limited is second in the list of the top microfinance companies in India due its philanthropic and generous projects of providing financial assistance to the poor people in India. Nevertheless, it has contributed an utmost 70% in the total Microfinance industry in the country. Having started in the late 2000’s, the Company had since reached its maximum potentials. As a result, the Share Microfin Limited successfully spread a total number of 666 branches across India. More so, it had gained a national government support after having received a Price Transparency Award from certain websites despite its being a non-banking entity. The Share Microfin Limited is headquartered in Hyderabad, Andhra Pradesh.
Spandana Sphoorty Financial Ltd.
The Spandana Sphoorty Financial Ltd. is another known Microfinance company that has begun working since 1998. It has maintained its rank among the list of best microfinance companies in India for years. But the Spandana Sphoorty Financial Ltd. is best known for its micro credit offers to certain employees with limited incomes. Presently, the Company continues to operate at extended households by providing financial help. The Company is headquartered in Hyderabad, India.
Asmitha Microfin Ltd.
The Asmitha Microfin Ltd. was intentionally built to be a helping institution for women. It operates by providing purchasing loans for the impoverished but willing women. Since having started working since 2002, the Company has helped a number of lives by providing them substantial purchasing loans to women in order that they can secure products for business. With its 363 branches and a head office in Hyderabad, Andhra Pradesh, it has a favorable geographical access to financial supplements from neighboring government agencies.
Shri Kshetra Dharmasthala Rural Development Project
The Shri Kshetra Dharmasthala Rural Development Project holds the number 5 spot for being the most substantial and the 5th biggest microfinance institution in India. Known neatly as SKDRDP was established and had since begun in 1991. The project was intended to be a very small but neat cooperative domain for impoverished women in India. Later, it then grew into a remarkable charity trust hitting over millions of funds from all over the world. Thus, the SKDRDP is known internationally. At most, the charity trust operates succinctly within its aimed scope which is within the rural areas. In total, SKDRDP has served about 25,000 villages in most of India.
Bhartiya Samruddhi Finance Limited (BSFL)
The Bhartiya Samruddhi Finance Limited (BSFL) began operating in 1996. The company has held the top Indian microfinance companies list for seven consecutive years starting 2010-2016. The microfinance company is very famous BASIX system, a system that directly provides credits, loans and other forms of financial help to most rural areas in India. It is a publicly owned microfinance company so that it tends to be very effective in its services. The company has 87 branches and a head office in Hyderabad, Andhra Pradesh.
Grama Vidiyal Micro Finance Pvt Ltd (GVMFL)
The Grama Vidiyal Micro Finance Pvt Ltd (GVMFL) is another very effective and substantial microfinance company in India. Established in 1993, the company moved rapidly exchanging stocks and trust funds for immediate provisions for the poor people in the most remote rural areas in India. The company chats with supporting external networks and international providers for fast fund accumulations. The company has successfully employed a total of 2,262 graduates in 2015 alone. Now, in 2016, these achievements have doubled instantly putting the excellent microfinance in the list of microfinance institutions in India. The company has 126 branches and a head office in Tiruchirappalli, Tamil Nadu.
Casphor Micro Credit (CMC)
The Casphor Micro Credit is a top microfinance company in India that was founded in 1996. Being a diligently-oriented company that envisions the financial liberty of a large number of people in India, the company was awarded “The Most Outstanding MFI of 2012” by the MFI Networking Representatives in India. The Casphor Micro credit is also Client Protection Certified. In addition, it has a charitable trust called the Casphor Trust that is likewise famous among the leading microfinance companies in India. In total, this non-profit organization has helped over a number of lives in the past many years. The CMC Company has 247 branches and a head office in Varanasi, Uttar Pradesh.
The Banhdan Microfinance Company is another significant company established and operated in 1991 by founder Chandra Shekhar Ghosh. This is a non-banking Indian microfinance company with enormous hold on Union Territories by credit funds. As of the year 2016, The Company has 383 branches and a head office in Kolkata, West Bengal.
Grameen Financial Services Pvt Ltd (GFSPL)
The Grameen Financial Services Pvt Ltd (GFSPL) is a famous and a substantial microfinance company that was first operated in 1999. It was originally a Non-Government Organization but later turned into a non-banking service provider to a number of women in the rural areas of India. The company has 62 branches and head office in Bangalore Karnataka.