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Basix (India Ltd) provides integrated technical and financial assistance to the rural poor
Set up by Vijay Mahajan, a graduate from the Indian Institute of Technology (IIT-Delhi) and Indian Institute of Management (IIM-Ahmedabad), in 1996, Basix (India Ltd) provides integrated technical and financial assistance through micro-credit schemes to the rural poor and women. Mahajan realised that credit is not sufficient to sustain livelihoods. Self-help groups and NGOs need extended financial and technical assistance too. Basix operates in 18 districts in the four states of Andhra Pradesh, Karnataka, Maharashtra and Orissa. To date the organisation has disbursed loans to the tune of Rs 468 million, while its outstanding loans stand at Rs 157 million. This has benefited an estimated 35,138 people in the non-farming sector and rural women in these four states. Bhartiya Samruddhi Finance Limited is the main operating entity through which the Basix group dispenses credit. Indian Grameen Services (IGS), an NGO, provides technical assistance and support services to Samruddhi borrowers, other rural producers and institutions. The two are held together by Basix (India Ltd), the parent body through which initial equity investments are made. Basix has adopted the micro-finance approach, serving the needs of various customers through different channels. Direct loans are extended through a network of village-based customer services. Indirect loans are given through intermediaries such as seed production organisers who in turn lend to rural producers. The support services of IGS, which works in collaboration with various government co-operatives, NGOs and private sector firms, include arranging farmer-training programmes in collaboration with the local staff, supply companies as well as agro-business companies. By providing both technical and financial support, Basix (India Ltd) has contributed significantly to changing people's lives in rural India. Contact: BASIX
501502, Nirmal Towers
Dwarkapuri Colony
Panjagutta, Hyderabad-500082
Karnataka, India
Tel: 91 40 335 0171335 0566
www.basixindia.com |
