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SVASTI

Svasti is an urban microfinance operation started in October 2008 to cater to the financial needs of the low income segment of society in Mumbai. Svasti started its operations by providing loans to Women Joint Liability Groups. In the near future, it aims to become a comprehensive financial service provider delivering customised loan products, facilitating savings and satisfying insurance needs of the people in the target segment.

Svasti started by servicing customers through its branch in Andheri East with 6 employees and has subsequently expanded its reach to Sakinaka, Mankhurd, Chembur, Borivali, Kandivali, Bhandup and Ghatkopar employing nearly 100 people. It plans to setup another 10 branches in the Greater Mumbai area over the next year and then progress to other cities, towns and villages in India with need for microfinance support.

Svasti provides loans of Rs.10000 to Rs.20000 at reasonable interest rates with minimal documentation, no security, small and conveniently repayable installments, all available to customers at their doorstep.

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