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Top Odisha Microfinance Bank for Loan in 2022

Top Odisha Microfinance Bank for Loan in 2022-Microfinance term relates to a small amount of credit facility offered primarily to the low-income group, unbanked and marginalized people in rural and semi-urban areas .

The microloans support livelihoods in the rural areas where banks are very far and access to formal banking services is remote. Microfinance helps rural communities, women and people who are involved in agricultural and small business activities.

Top Odisha Microfinance Bank for Loan

Top Odisha Microfinance Bank for Loan in 2022-Microfinance companies are non-banking finance (NBFC) companies registered with Reserve Bank of India (RBI) that offer short term loans to people at lower interest rates than primary lenders. 

Top Odisha Microfinance Bank for Loan in 2022

They handhold people with their credit needs like a friend in need and also teach them basic savings & finance skills. Microfinance companies go-ahead to provide loans for personal consumption like house appliances, mobile and cycle loans. 

Top Odisha Microfinance Bank

Top Odisha Microfinance Bank for Loan in 2022-Microfinance companies focus on rural or semi-urban areas where people need money urgently for a short time period usually for a period of 1 to 2 years. 

Microfinance companies on one hand work closely with women entrepreneurs for helping them start small tailoring shops, art and craft shops and local produce businesses. 

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On the other hand microfinance companies make loans to MSME, for housing and starting dairy businesses.

How Microfinance Companies Work 

Top Odisha Microfinance Bank for Loan in 2022-Microfinance Institutions (MFIs) need to have a license from RBI to start their operations. MFIs offer collateral-free loans of up to Rs. 50,000 (in some cases up to 1,00,000) to small businesses or individuals. 

You can understand how microfinance companies work with the help of this .

Working Model of Microfinance Companies in India

1. Self Help Group (SHG)

Top Odisha Microfinance Bank for Loan in 2022-Self Help Group is an informal group of small entrepreneurs with similar socio-economic backgrounds. Small entrepreneurs including women come together to create a common fund to meet the emergency needs of their business. The SHG is a savings oriented group.

They fix periodic meets, open an account with a microfinance company and save regularly in the fund, and when any group member needs funds, he gets that from the collective savings.

These groups are generally non-profit self-sustaining organizations. The group itself takes care of the responsibility of debt recovery.

Self-help groups get money on credit from the bank like NABARD and SIDBI once they become stable and present a track record of regular repayments of their borrowers.

2. Joint Liability Group (JLG)

Top Odisha Microfinance Bank for Loan in 2022-Joint Liability Group concept for microfinance was started by NABARD. JLG is a group of 4-10 small farmers, rural entrepreneurs, people of the same village/locality having the same socioeconomic background.

The JLG is formed with the purpose of availing loan from a microfinance company without any collateral. The JLG is for income generation, activity-oriented groups.

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Microfinance companies can finance a JLG in two ways 

  • Financing to the group directly
  • Financing to the individual in the groups

However, in both cases, all members of JLG are responsible for repaying the loan amount.

Best Microfinance Companies in India Working as Banks

Top Odisha Microfinance Bank for Loan in 2022 The micro banking loans offered are

  • Suchana microloan
  • Suraksha
  • Su-briddhi microloan
  • Srishti microloan
  • Susikhsha microloan
  • Samadhan loan

Top Odisha Microfinance Bank for Loan in 2022 Pros of Bandhan Bank

  • Has vast experience in microfinance
  • Now offers other banking services
  • Dedicate microfinance loans

Cons of Bandhan Bank

  • Most of the banking outlets in eastern India
  • Also working as a bank 

List of Top Microfinance Companies in India

Top Odisha Microfinance Bank for Loan in 2022 Following are the top 10 Microfinance companies in India:

SKS Microfinance Ltd (SKSMPL)

NameSKS Microfinance Ltd
HeadquarterSecunderabad, Andhra Pradesh
Legal StatusPvt. Ltd. Company (NBFC)
Lending ModelJLG
Number of Branches1,413
Loan Outstanding (` Mn)

(As on September 30, 2008)
18,227
Borrowers
(As on September 30, 2008)
2,590,950
Net Worth (` Mn)

(As on September 30, 2008)
2,395
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
23.40
OSS (%)(Apr 1-Sep 30, 2008)126.49
Current Portfolio (%)
(As on September 30, 2008)
99.14
Debt to Net Worth (Times)
(As on September 30, 2008)
7.37
Top Odisha Microfinance Bank for Loan in 2022

Spandana Sphoorty Financial Ltd (SSFL)

NameSpandana Sphoorty Financial Ltd
HeadquarterHyderabad, Andhra Pradesh
Legal StatusPublic Ltd. Company (NBFC)
Lending ModelJLG, Individual
Number of Branches696
Loan Outstanding (` Mn)

(As on September 30, 2008)
11,987
Borrowers
(As on September 30, 2008)
1,668,807
Net Worth (` Mn)

(As on September 30, 2008)
1,225
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
27.43
OSS (%)(Apr 1-Sep 30, 2008)132.02
Current Portfolio (%)
(As on September 30, 2008)
98.88
Debt to Net Worth (Times)
(As on September 30, 2008)
7.04
Top Odisha Microfinance Bank for Loan in 2022

Share Microfin Limited (SML)

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NameShare Microfin Limited
HeadquarterHyderabad, Andhra Pradesh
Legal StatusPublic Ltd. Company (NBFC)
Lending ModelJLG, Individual
Number of Branches666
Loan Outstanding (` Mn)

(As on September 30, 2008)
8,568
Borrowers
(As on September 30, 2008)
1,231,556
Net Worth (` Mn)

(As on September 30, 2008)
1,448
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
27.49
OSS (%)(Apr 1-Sep 30, 2008)152.45
Current Portfolio (%)
(As on September 30, 2008)
99.32
Debt to Net Worth (Times)
(As on September 30, 2008)
5.03
Top Odisha Microfinance Bank for Loan in 2022

Asmitha Microfin Ltd (AML)

NameAsmitha Microfin Ltd
HeadquarterHyderabad, Andhra Pradesh
Legal StatusPublic Ltd. Company (NBFC)
Lending ModelJLG
Number of Branches363
Loan Outstanding (` Mn)

(As on September 30, 2008)
4,944
Borrowers
(As on September 30, 2008)
694,350
Net Worth (` Mn)

(As on September 30, 2008)
475
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
17.43
OSS (%)(Apr 1-Sep 30, 2008)121.04
Current Portfolio (%)
(As on September 30, 2008)
99.80
Debt to Net Worth (Times)
(As on September 30, 2008)
9.92
Top Odisha Microfinance Bank for Loan in 2022

Shri Kshetra Dharmasthala Rural Development Project (SKDRDP)

NameShri Kshetra Dharmasthala Rural Development Project
HeadquarterDharmasthala, Karnataka
Legal StatusTrust
Lending ModelSHG
Number of Branches22
Loan Outstanding (` Mn)

(As on September 30, 2008)
4,060
Borrowers
(As on September 30, 2008)
612,482
Net Worth (` Mn)

(As on September 30, 2008)
157
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
12.02
OSS (%)(Apr 1-Sep 30, 2008)100.46
Current Portfolio (%)
(As on September 30, 2008)
99.68
Debt to Net Worth (Times)
(As on September 30, 2008)
29.81
Top Odisha Microfinance Bank for Loan in 2022

Bhartiya Samruddhi Finance Limited (BSFL)

NameBhartiya Samruddhi Finance Limited
HeadquarterHyderabad, Andhra Pradesh
Legal StatusPublic Ltd. Company, (NBFC)
Lending ModelDiversified
Number of Branches87
Loan Outstanding (` Mn)

(As on September 30, 2008)
3,882
Borrowers
(As on September 30, 2008)
457,668
Net Worth (` Mn)

(As on September 30, 2008)
317
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
17.89
OSS (%)(Apr 1-Sep 30, 2008)108.97
Current Portfolio (%)
(As on September 30, 2008)
99.00
Debt to Net Worth (Times)
(As on September 30, 2008)
11.59
Top Odisha Microfinance Bank for Loan in 2022

Bandhan

NameBandhan
HeadquarterKolkata, West Bengal
Legal StatusSociety
Lending ModelJLG
Number of Branches385
Loan Outstanding (` Mn)

(As on September 30, 2008)
3,389
Borrowers
(As on September 30, 2008)
851,713
Net Worth (` Mn)

(As on September 30, 2008)
435
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
26.32
OSS (%)(Apr 1-Sep 30, 2008)175.40
Current Portfolio (%)
(As on September 30, 2008)
99.92
Debt to Net Worth (Times)
(As on September 30, 2008)
7.07
Top Odisha Microfinance Bank for Loan in 2022

Cashpor Micro Credit (CMC)

NameCashpor Micro Credit
HeadquarterVaranasi, Uttar Pradesh
Legal StatusSection 25 Company
Lending ModelJLG
Number of Branches247
Loan Outstanding (` Mn)

(As on September 30, 2008)
1,431
Borrowers
(As on September 30, 2008)
303,935
Net Worth (` Mn)

(As on September 30, 2008)
93
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
28.78
OSS (%)(Apr 1-Sep 30, 2008)109.71
Current Portfolio (%)
(As on September 30, 2008)
98.00
Debt to Net Worth (Times)
(As on September 30, 2008)
14.72
Top Odisha Microfinance Bank for Loan in 2022

Grama Vidiyal Micro Finance Pvt Ltd (GVMFL)

NameGrama Vidiyal Micro Finance Pvt Ltd
HeadquarterTiruchirappalli, Tamil Nadu
Legal StatusPvt. Ltd. Company (NBFC)
Lending ModelJLG
Number of Branches126
Loan Outstanding (` Mn)

(As on September 30, 2008)
1,316
Borrowers
(As on September 30, 2008)
288,311
Net Worth (` Mn)

(As on September 30, 2008)
231
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
32.46
OSS (%)(Apr 1-Sep 30, 2008)141.53
Current Portfolio (%)
(As on September 30, 2008)
99.54
Debt to Net Worth (Times)
(As on September 30, 2008)
4.95
Top Odisha Microfinance Bank for Loan in 2022

Grameen Financial Services Pvt Ltd (GFSPL)

NameGrameen Financial Services Pvt Ltd
HeadquarterBangalore, Karnataka
Legal StatusPvt. Ltd. Company (NBFC)
Lending ModelJLG
Number of Branches62
Loan Outstanding (` Mn)

(As on September 30, 2008)
1,287
Borrowers
(As on September 30, 2008)
153,453
Net Worth (` Mn)

(As on September 30, 2008)
127
Portfolio Yield (%)
(Apr 1-Sep 30, 2008)
18.77
OSS (%)(Apr 1-Sep 30, 2008)106.41
Current Portfolio (%)
(As on September 30, 2008)
99.98
Debt to Net Worth (Times)
(As on September 30, 2008)
10.51
Top Odisha Microfinance Bank for Loan in 2022

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