Saarthi Microfinance, a microfinance institution based out of Jaipur, has crossed the 10,000 member mark in December with the opening of its 10th branch in Rajasthan. It currently has operations in 7 districts of Rajasthan.
Saarthi Microfinance began its operations in October 2009 with the Transport Nagar branch in Jaipur, Rajasthan. As of November 2010, the company has achieved a cumulative disbursement of Rs 6.7 Crores and has Rs 4.5 Crores as outstanding loans.
SAARTHI MICROFINANCE – KAMAL AUTOFINANCE LTD
‘Saarthi’ is a Sanskrit word which when literally translated, means ‘The Charioteer’ and is in reference to the Hindu god Shri Krishna. Saarthi Microfinance is registered as Kamal Auto finance Ltd. (KAFL) with the Reserve Bank of India and is a category ‘A’ NBFC with permission to seek public deposits.
The company’s strong goodwill and market repute have enabled KAFL to attract sizeable public deposits. As a financing company, it is engaged primarily in extending credit to individuals. The company has a diverse product range and provides a variety of loans, namely, vehicle loans, personal/cash loans, education loans, equipment loans and from last year’s microfinance loans.
The management of Saarthi Microfinance believes in the concept of welfare economics as expounded by Nobel laureate Amartya Sen. It seeks to encourage meaningful, inclusive and sustainable growth.