EQUITAS

  • Location:  Chennai, Tamil Nadu, India
  • Started microfinance operations:  December 2007
  • Clients when partnership began: 
  • Current clients served:  108,352

 

 

 

 

Website: www.equitas.in 

Background: Equitas is a start-up MFI founded in July 2007 and is based out of Chennai, India. They are targeting their loan offerings to those who live in one or two room dwellings, which amounts to 70% of the population. Equitas is focused on bringing the population out of poverty through a commercial approach.

VasuLeadership: N Vasudevan is the promoter and Managing Director of Equitas Micro Finance India P. Ltd. based out of Chennai.

Earlier to this, he was the Executive Vice President and Head - Consumer Banking Group in Development Credit Bank Ltd, based out of Mumbai for one and a half years. In this position he was responsible for retail banking including retail liabilities, branch banking, retail assets, and alternate channels. He also managed a network of 72 branches spread largely over Maharashtra, Gujarat, and the North.

Product offerings and clientele: During their early experience in the field, Equitas heard from many borrowers that they could not access enough credit, and thus they offer higher loan amounts with a longer term. Loans will be distributed for working capital, the repayment of existing high cost borrowings, consumption purposes such as education, and emergency loans for medical purposes.

Highlights and growth strategy: The Equitas team is experienced in improving efficiencies through systems and will apply this to the microfinance sector. Equitas aims to adopt innovative approaches, questioning many of the existing paradigms in its quest to reach out in an effective and efficient matter to its customers.

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