Swarna Pragati Housing Microfinance Limited, an Indian housing finance institution, has launched a housing microfinance product in the central-Indian state of Maharashtra. Swarna Pragati plans to disburse INR 30 million (USD 652,000) in loans to 100 self-help groups (SHGs) in an effort to reach 500 beneficiaries, particularly poor women in underserved rural areas [1]. Swarna Pragati aims to use existing networks of SHGs and other local organizations to identify clients and service the loans [1].
Swarna Pragati also provides training and capacity building in an effort to empower SHG members to play a wider role in their village [1]. Financial information on Swarna Pragati is not available as it does not report to the MIX Market, the microfinance information data provider.
By: Alexandra Pattee, Research Associate
About Swarna Pragati Housing Microfinance Limited: Swarna Pragati Housing Microfinance Limited is an Indian housing finance company. Based in New Delhi, Swarna Pragati is headed by A Ramesh Kumar, a previous Chairman of National Bank for Agriculture and Rural Development’s (NABARD’s) Committee on Rural Habitat. No further financial information is available, as Swarna Pragati does not report to the MIX Market, the microfinance information data provider.
About National Housing Bank (NHB): National Housing Bank (NHB) was created in 1988 by the Indian Parliament to function as the principal agency promoting housing finance institutions (HFIs). NHB is wholly owned by Reserve Bank of India (RBI), the country’s central bank. NHB is mandated to issue direction to HFIs to ensure their growth, make loans and advances to scheduled banks and housing financial institutions (HFIs), and formulate schemes to mobilize resources and extend credit for housing.
Sources and Resources:
[1] Swarna Pragati Housing Microfinance Limited Press Release, “Swarna Pragati Pioneers Novel Housing Microfinance Model In Maharashtra”, http://swarnapragati.com/Press.html
MicroCapital’s Microfinance Universe: Swarna Pragati Housing Microfinance Limited, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Swarna+Pragati+Housing+Microfinance+Limited
MicroCapital’s Microfinance Universe: National Housing Bank, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=national+housing+bank
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
MicroCapital.org Article, November 5, 2010, “Micro Housing Finance Corporation (MHFC), Tata Housing Partner to Launch Shubh Griha Housing Project For Lower Income Families Including Microfinance Clients near Mumbai, India”, https://www.microcapital.org/microcapital-brief-micro-housing-finance-commission-mhfc-tata-housing-partner-to-launch-shubh-griha-housing-project-for-lower-income-families-including-microfinance-clients-near-mumbai-india/
MicroCapital.org Article, June 7, 2010, “Vastushodh Projects Private Limited Pairs with Micro Housing Finance Corporation (MHFC) to Set Up Housing for Urban Poor in India”, https://www.microcapital.org/microcapital-brief-vastushodh-projects-private-limited-pairs-with-micro-housing-finance-corporation-mhfc-to-set-up-housing-for-urban-poor-in-india/
MicroCapital.org Article, March 30, 2010, “Indian BASIX Microfinance Institution Bhartiya Samruddhi Finance Ltd. (BSFL) Partners with Micro Home Solutions”, https://www.microcapital.org/microcapital-brief-indian-basix-microfinance-institution-bhartiya-samruddhi-finance-ltd-bsfl-partners-with-micro-home-solutions/
MicroCapital.org Article, March 29, 2010, “Indian Microfinance Funds Seek to Expand Focus Beyond Microcredit”, https://www.microcapital.org/microcapital-brief-indian-microfinance-funds-seek-to-expand-focus-beyond-microcredit/
MicroCapital.org Article, December 8, 2009, “German Development Bank ‘KfW’ Provides $2.1m to Housing Development Finance Corporation (HDFC) to Loan to SKS Microfinance to Provide Loans to Low-Income Women for Home Improvement”, https://www.microcapital.org/microcapital-brief-german-development-bank-kfw-provides-21m-to-housing-development-finance-corporation-hdfc-to-loan-to-sks-microfinance-to-provide-loans-to-low-income-women-for-home-improveme/
MicroCapital.org Article, December 4, 2009, “Indian Microfinance Institutions Wary of Housing Lending”, https://www.microcapital.org/microcapital-brief-indian-microfinance-institutions-wary-of-housing-lending/
Similar Posts:
- MICROCAPITAL BRIEF: Incofin Places $4.3m in Equity in Varashakti Housing Finance via India Progress Fund
- MICROCAPITAL BRIEF: Mintoak of India Rolls Out App for HDFC Bank, Allowing Customers to Accept Electronic Payments
- MICROCAPITAL BRIEF: Abler Nordic Sells Equity Stake in Satin Creditcare, Provider of Microfinance to Low-income Women in India
- MICROCAPITAL BRIEF: Light Microfinance, IppoPay Partner to Offer Digital Lending to MSMEs in Rural India
- MICROCAPITAL BRIEF: Annapurna Finance Borrowing $25m from responsAbility to Boost Renewable Energy, Energy-efficiency in India
