Stree Nidhi Credit Cooperation Federation Limited, a microfinance bank established by the government of the Indian state of Andhra Pradesh, recently agreed to loan INR 16.9 billion (USD 308 million) to self-help groups (SHGs) in Andhra Pradesh during the fiscal year ending March 2014. In the 2012-2013 fiscal year, Stree Nidhi disbursed INR 6.6 billion (USD 120 million) in loans to 460,000 members in 117,000 SHGs located in rural areas, with a reported recovery rate of 98 percent. The institution collected INR 218 million (USD 4 million) in deposits in 2012-2013. Net profits rose from INR 14.4 million (USD 262,000) in 2011-2012 to INR 188 million (USD 3.4 million) in 2012-2013.
By Nicole Boyd, Research Associate
About Stree Nidhi Credit Cooperation Federation Limited
Stree Nidhi Credit Cooperation Federation Limited is an Indian cooperative microfinance bank established in 2011 by the Andhra Pradesh state government and Mandal Mahila Samkhyas (MMS), a representative federation of SHGs. Stree Nidhi lends exclusively to women self help groups (SHGs) in Andhra Pradesh. In the 2012-2013 financial year, the institution earned net profits of INR 188 million (USD 3.4 million), disbursed INR 6.6 billion (USD 120 million) in loans to 117,000 SHGs and collected INR 218 million (USD 4 million) in deposits.
Sources and Additional Resources:
Business Line. “Stree Nidhi to disburse Rs 1,694 cr to SHG women,” http://www.thehindubusinessline.com/industry-and-economy/banking/stree-nidhi-to-disburse-rs-1694-cr-to-shg-women/article4663536.ece
MicroCapital. July 25, 2012, “MICROCAPITAL BRIEF: Sthreenidhi of India to Disburse $82m in Education, Livelihood Promotion Loans,” https://www.microcapital.org/microcapital-brief-sthreenidhi-of-india-to-disburse-82m-in-education-livelihood-promotion/
MicroCapital. September 22, 2011, “MICROCAPITAL BRIEF: Government of Andhra Pradesh, India, Launches Cooperative Microfinance Bank for Self-Help Groups (SHGs),” https://www.microcapital.org/microcapital-brief-government-of-andhra-pradesh-india-launches-cooperative-microfinance-bank-for-self-help-groups-shgs/
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