AJIWIKA

  • Location:  Deoghar, Jharkhand, India
  • Started microfinance operations:  July 2005
  • Clients when partnership began: 
  • Current clients served:  5,875

 

Ajiwika LogoBackground: Ajiwika is operating in a completely marginalized market where very few microfinance institutions operate.  They are working in one of India’s poorest regions with over 80% of potential clients being unserved.  Ajiwika is well placed to succeed in this market because of the management’s openness to feedback; its local knowledge; innovative products; energetic, committed and transparent team; and strong commitment to serve the poor.

Leadership:  CEO Mr. Tanay Chakravarty has substantial experience in the development field and has been selected as a visionary leader by the David & Lucile Packard Foundation.

Product offerings and clientele: Ajiwika’s clients are women who do not have access to credit from formal banking channels. Most women are engaged in agriculture, poultry, dairy, trading and other such activities and their monthly household income is typically US $40-60.  Based on their local knowledge and client understanding, Ajiwika has a wide range of products including microenterprise loans and agriculture loans.

Highlights and growth strategy: Ajiwika has worked with the Santhal tribe’s people over a period of time and has fostered trust and goodwill, which is critical for acceptance within the community. It works with governing councils of small villages or hamlets to ensure that it can reach a larger portion of these people.  They intend to extend their reach to Santhal, India’s 2nd largest tribe, over the coming years.

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