CreditAccess Grameen Limited Company Profile: Products, Promoters and Clients
CreditAccess Grameen Limited Company Description:
CreditAccess Grameen Limited, headquartered in Bengaluru, is a leading microfinance institution in India, primarily serving women guests in pastoral areas. Operating in 364 sections across 16 countries and one union home, with 1,877 branches, it's promoted by CreditAccess IndiaB.V., specializing in micro and small enterprise backing. Known as" Grameen Koota" in Kannada, it has over a decade ofmicro-lending experience in India.
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Q1. What are the Product and service offerings of the CreditAccess Grameen Limited?
CreditAccess Grameen Limited offers a range of microfinance products designed to meet the diverse financial needs of its customers. These include group lending for income generation, home improvement, family welfare, emergency expenses, and retail finance solutions. Additionally, the company provides specialized loans such as Grameen Vikas Loan, Grameen Two-Wheeler Loan, Gruha Vikas Loan, Grameen Swarna Loan, Unnati Loan, and Grameen Affordable Housing Loan (Pilot), catering to specific requirements like agricultural development and asset acquisition.
Embracing digital innovation, CreditAccess Grameen Limited has introduced Digital Lending initiatives like Digital Lending (Pilot), MAHI (Customer App), Pragathi Digital Loan, and Multi-Purpose Digital Loan. These digital solutions aim to streamline the loan application and disbursement process, ensuring accessibility and efficiency for customers. Overall, the company remains committed to providing inclusive financial solutions to empower individuals and communities for sustainable growth.
Q2. Who are the Promoters/Management of the CreditAccess Grameen Limited?
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George Joseph, serving as Chairman and Lead Independent Director, joined our Board of Directors in September 2015. With over four decades of experience in the banking industry, he is a seasoned veteran. Joseph holds certifications from the Indian Institute of Bankers and the Institute of Bankers, London. He retired as Chairman and Managing Director of Syndicate Bank, having previously spent over 36 years with Canara Bank. Additionally, he serves as a Director on the board of Popular Vehicles and Services Limited.
Udaya Kumar Hebbar, Managing Director at CA Grameen, is a microfinance industry veteran renowned for pioneering inclusive finance through a market-based approach. With over 35 years of experience, he has steered CA Grameen to become India's leading microfinance institution. Hebbar's extensive banking expertise spans roles at Barclays Bank PLC, Corporation Bank, and ICICI Bank. He holds a Master's degree in Commerce from Karnatak University, Dharwad, and is a certificated associate from the Indian Institute of Bankers. Additionally, he chairs the Microfinance Institutions Network (MFIN), showcasing his leadership in the sector.
Ganesh Narayanan, CEO at CA Grameen, brings 26+ years of BFSI industry experience from roles at ICICI Bank Ltd, Fullerton India Credit Co. Ltd (now SMFG India Credit), and YES Bank Ltd. Specializing in Rural & Agri Banking, Microfinance, and Financial Institutions, he led YES Bank's Indian Financial Institutions Group as Group President & Deputy National Head. Joining CA Grameen in January 2020 as Chief Business Officer, he drove significant growth in the MFI business and Retail Finance, later appointed CEO in August 2023 to spearhead the organization's growth and innovation. Narayanan holds a Master's degree in management and a Graduate degree in electronics.
Q3. Who are the Clients of the CreditAccess Grameen Limited?
As of FY24, the company operates approximately 1,967 branches and employs a workforce of 13,190 professionals. With a substantial client base, the company serves 4,918 lakh active borrowers. Its geographical presence spans across 16 states and 1 union territory, covering 383 districts, with significant exposure in Maharashtra, Karnataka, and Tamil Nadu.
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