My Team Mr.Amit Kumar Das – Manager HRD He is Master Degree in Science and MBA in H.R. He is having 14 years experience in H.R in different industries and 1.5 years experience in Mf Sector.He is responsible for recruitment, training & development and performance appraisal. Mr.M.K Srivastava – Manager Finance & MIS He is graduate in Science and having 26 years experience in Banking Sector in different capacity and almost 3 years experience in Mf Sector.He is responsible for Fund Management, MIS analysis,Preparations of Balance Sheet, Submission of Returns,etc.
My Team Mr.D.K Sudhangshu – Manager Operation He is Master Degree in Social Science He is having 6 years experience out of which 3 years experience in different capacities of Mf Sector.Previous association was with BASIX. Overall management related to branch opening loan sanctioniing ,monitoring the activity of field person,insurance service handling,etc. Ms.Suchita Chatterjee – Manager Risk Management She is an MBA in Finance and pursuing BCA from IGNOU.Monitoring the loan A/cs along with trouble shooting activities at branch as well as field level.
In India almost 35 % of total population donot have the access to the commercial financial sector – because
Commercial financial sector claims guarantee from poor for lending money though most of the poor don’t have anything.
Due to lack of awareness & illetaracy poor people are unable to understand the complex rules & regulations of Banks.
Generally banks are not present in remote villages
A large no. of small loans are needed to serve the poor.But the bankers prefer small no. of large loans to minimise administarative cost.
Our Profile :
V.F.S.P.L is the 1 st 9001:2000 ISO certified N.B.F.C in Microfinance sector.We are in microcredit and credit plus services for poor women.
Business Concept 3. What We Do: Our speciality is credit worth of Rs.5000/--Rs.50,000/- for Income Generating Activity of poor people. by proper survey JLG groups are formed and based on their needs our employees disburse the loans & collect weekly payment from their home.The interest rate is 12.5% which is competitive. The service to those socio-economic backward people is simple,convenient,prompt, flexible and transparent. At V.F.S.P.L as on 31 st May,08 we helped almost 50,475 poor women to live their livelihood and make them smile.
Products and Methodologies Products : Presently we are dealing with 2 products, ie, General Loan and MEG Loan Methodologies : Potential Area Selection Introductory Meeting Group Training & Group Recognition Test Members Pass Test ; if failed Beginning of Financial Transactions Submission of Loan Forms Appraisal of Loan Forms Clearing for Disbursement
Mainly V.F.S.P.L are targeting the potential market of West
Bengal.Our target customers are poor women who are
engaged in some kind of income generating activities or
willing to start the same or upscaling their income generating
activities but donot have any access to mainstream financial
As on 31 st May,2008,our current number of borrowers are
Competitors Working in 9 districts in West Bengal Society KDS Working in 6 districts in West Bengal Society Sahara Utsarga Working in 15 states including most of the districts in West Bengal NBFC SKS Working in 7 states including most of the districts in West Bengal Society & NBFC Bandhan Working Area Legal Status Competitors
V.F.S.P.L is 1st ISO 9001:2000 Certified Non Banking Micro Finance Company in World.
V.F.S.P.L follows JLG model whereas other competitors in West Bengal are following SHG model. In JLG model due to small groups, liability is less compare to SHG model.In JLG positive relationship exists between the perception of the group homogeneity and the repayment behaviour.So defaulter rate is minimum.
Our rate of interest is very competitive so that borrowers can pay weekly.
We do Health Insurance for the family of our borrowers by Village Parivar Surakhsha,a Village Group Company.
We do Life Insurance for Borrowers’ spouses by tying up with Reliance Life Insurance Corporation Limited.
We give Training to Borrowers on Capacity Building ,on Income Generating Activity and Skill Development Guidance at customer’s door step by a separate wing VWS,a Village Group Company.
We also organize different workshop in different social issues on a regular interval .
Our customers can give their weekly repayment to our staffs at their doorstep.
We are one of the best-computerized MFI in this region. We maintain the entire process through computerised software system.It helps us to get the good, timely and error free MIS and it also helps to maintain the transparency to us, regulatory authorities and as well as to the investors.
Growth Projections In today’s competitive world, based on customer’s need a whole package of products are to be given in near future. Such as Top –up Loan, Agricultural Loan, Home Loan, Consumer Loan ,etc. Current (2008 -2009) Projected (2009 – 2010) Number of Clients 1,28,800 2,94,000 Portfolio Size 54.73 Crores 130.90 Crores Portfolio growth rate (CAGR) 219 % 645 % Geographical coverage (number of States, or Districts) 5 Districts 5 Districts Number of Branches 23 35
Financial Ratios Current ( 2008 - 2009) Projected 2010 Operating and administrative expenses/average gross turnover (%) 47.38 % 37.80 % Profit after Tax / Gross Turnover (%) 12 % 13.25 % Return on Assets (ROA) % 2.84 % 3.14 % Return on Net worth (RONW) % 12.71 % 14.63 % Debt to Equity ratio 6.10 5.95 Debt Requirement (INR) 55 Crores 125 Crores Equity Requirement (INR) 5 Crores 8.75 Crores