Neeraj Nayal

Annapurna Finance Pvt. Ltd.

Annapurna Finance Pvt. Ltd (AMPL), one of the fast growing NBFC-MFI in the country, has its roots in the early 1990s doing various developmental activities as a not-for-profit entity registered as Peoples Forum. The microfinance activities started with the evolution of Mission Annapurna under Peoples Forum from the year 2005. Mission Annapurna was able to reach the interior hinterlands of Odisha through its untiring effort of addressing the economic necessities of poor women at their doorstep. As the program grew large by size and area of operation, there was an utter need to transform itself into a more regularized entity. The gradual transformation from Mission Annapurna bring forth the name Annapurna Finance Pvt Ltd (AMPL) to the sector in the year 2009. Thereafter, AMPL registered itself with the Reserve Bank of India (RBI) as an NBFC-MFI in the year 2013. All through the organizational building process, Annapurna has followed two basic principles: Innovate & Replicate. Annapurna, over the years, has continued to innovate in its products and delivery mechanisms, to make the whole process of micro-credit delivery as effective as possible. That innovation is then replicated to its new operational areas with the same energy and enthusiasm. Over the years this principle has helped Annapurna to establish itself as one of the leading MFIs in India. Annapurna was established with a purpose of serving the economically backward clients by bringing them to mainstream, providing need based financial services at their doorstep. The focus has been clear, to reach the areas where formal financial institutions find it unprofitable to settle in. Its objectives have not only limited to just reach and serve but also by providing financial and technical support to strengthen entrepreneurial skill for effective and efficient undertaking of business activities. Along with this, Annapurna is providing clients MSME Loans and Small Housing Finance.