The word “Jagaran” has been derived from Sanskrit and means “a state of wakefulness”. Jagaran intends to awaken the economically challenged sections of the society, rid them of despair and assist them in building a better life.
Jagaran Microfin Private Limited is the outcome of a vision to build:
i. A professionally managed Microfinance institution which can achieve a healthy amalgamation of social and financial sustainability through economic empowerment as well as employment generation.
ii. A strong foundation to promote entrepreneurship skills among the economically backward sections of the population and make them self-reliant.
Jagaran Microfin Pvt Ltd is a for-profit NBFC dedicated to the activities of microfinance and financial inclusion. Jagaran is a wholly owned subsidiary of GTFS Multiservices Ltd (GTFS), which is best known as a distribution giant in the Indian financial markets. GTFS is a key and major distributor of most fund houses (insurance and mutual funds) and has helped create earning opportunities for more than 4 million people in rural India.
The GTFS group presently has more than 275 full-fledged branches with more than one million distribution partners, covering a vast geographical area of the country.
Jagaran has access to all these branches which will enable it to reach scale at a fast pace and low cost.
A hub and spoke approach has been adopted to help the organization penetrate quickly and deeply into the heartland of India for delivering its products and services.
The Management is therefore positive that the outreach, efficiency and investor returns at Jagaran would be at par with the best in the Industry.
Current Out Reach
|Key Operational Statistics as on 30th Nov 2018.|
|Gross Loan Portfolio (Rs. Cr.)||318.06|
|BC Portfolio (From IDBI Bank)(Rs.Cr.)||16.29|
|No. of States||5|
|No. of districts||27|
|No. of Branches||108|
|No. of Active members||2,78,358|
|Loan Amount Disbursed during this period of 2018-19||351.07|
|Average O/S Loan (INR)||16,013|
|Regular Repayment Rate||99.69%|
|Number of Employees||645+|
Rating & Grading
• Jagaran has been assigned Grade M2 (second from top) in August 2018 by SMERA (a renowned agency).
• It has received Grading “C2” for Code of Conduct Assessment in August 2018 conducted by SMERA.
• CARE Ratings and ICRA have assigned a Rating ‘BBB-/Stable’ to Jagaran in May 2018.
• Jagaran received Skoch Order-of-Merit award in September 2016.
Service Excellence: Provide unfailing service at the right place and at the right time.
Product Offering: Listen to the market and offer practical solutions.
Support and Guidance: Understand problems and assist members whenever required.