Grama Vidiyal Microfinance Limited (GVMFL) is one of the largest microfinance institutions in India, focusing on empowering women and alleviating poverty. It provides loans exclusively to women without collateral. GVMFL has over 1.27 million members across 7 states and aims to eradicate poverty through efficient microfinance programs and community development initiatives like healthcare camps and schools. The company follows strict codes of ethics and maintains high corporate governance standards, as recognized through several awards and strategic investments from social investors.
4. About GVMFL
Grama Vidiyal Microfinance Limited, a Non-banking Finance
Company (NBFC), is one of the largest microfinance institutions in the
country. As a part of the 30 year old conglomerate of grassroots
institutions, it is known for its double-bottom-line approach focusing
on the sustainability of financial inclusion programs and the
development of women and their families.
Woman empowerment is their main focus. They provide loans only
to woman in each family.
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5. Introduction
A wholly owned subsidiary of IDFC Bank Ltd.
An NBFC founded in 1993
Microfinance institution operating in Tamil Nadu area of South
India and north India.
Aim to provide loans to women without accessing credits since
1993.
In 2007, GVMFL transformed from charitable trust to an NBFC.
In 2016 june 13th GVMFL was 100% taken over by IDFC Bank
Bharat LTD.
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6. Key People
Executive Management Team :
Chairman & Managing Director - S.Devaraj
Chief Executive Officer - Arjun Muralidharan
Chief Operating Officer - Shirley Devaraj
Head-HR, Training & Recruitment - Satish Devaraj
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7. Vision
A value based, poverty free,
productive, Prosperous, humane and
sustainable "Grama Vidiyal" family.
Mission
To empower women of the poorest
families socially, economically and
politically through networking them
into community institutions and
through efficient poverty alleviation
and microfinance program.
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8. Values
Spirit, Team Work, Accountability & Resourcefulness with Unyielding Integrity
and Social Focus
Quality Statement
We are committed to products and services, with effective planning, process
and technology to achieve utmost customer satisfaction through continuous
improvement and teamwork our employees. Our objective is to focus on
eradication of poverty and improving the standard of living of downtrodden
women.
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9. Business Numbers :
(as on February, 2017)
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7
STATES
64
DISTRICTS
326
BRANCHS
3372
EMPLOYEE
S
1.274
MILLION
MEMBERS
13.36 LOAN
DISBURSED
12342 CR
AMT
DISBURSED
1437 CR
AMT
OUTSTAN
DING.
10. Corporate Social Responsibility
Creating positive change in economic status, change in health condition of our
members and change in the environment around us.
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11. A seed was sown 3 decades back, which was carefully nurtured by the hard work
and sacrifice of many individuals.
And now it stands tall with wide spread branches, giving shade for more than 1
million poor members and 2900 staff.
Grama Vidiyal Micro Finance Limited is one of the very few organizations
focusing not only on the economic development of its members as well as the
public in and around the city.
They donate food for more then 100’s directly in head office as well around the
city.
They have established schools and colleges for the poor people at a very low
cost for the development of the people.
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12. GVMFL organized a total of 781
camps with 32 specialities from
which 2,80,426 participants got
benefitted in which 66,689 were
referred to hospital and it was
achieved successfully through
our strategic tie up with 87 most
reputed Hospitals in Tamil Nadu,
Pondicherry, Madhya Pradesh
and Maharashtra.
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14. FAIR Practice Codes
Formulated Fair Practices Code to lay down the following
procedures/practices in dealing with the business
transactions.
- Member admission
- Applications for loans and their processing
- Loan appraisal
- Disbursement of loans
- Changes in terms and conditions
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15. Grievance Redressal Policy
Reduce the instances of complaints through continuous service delivery by providing
appropriate mechanism and to ensure the needs of the customers are addressed properly.
- To provide appropriate solutions to the clientele needs through formal and informal
- channels.
- To increase clientele participation in issues related to problem solving and
grievances.
- To inform and educate the customers on grievance redressal mechanism
- To provide services to widen the customer base and also to retain the existing
customers.
- To provide adequate training to staff in resolving the customers issues.
- To intervene the issues and handle the complaints speedily and efficiently.
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16. Mode of Complaints :
Grama Vidiyal Micro Finance Limited has considered the clients profile,
literacy level, family background and their conduct in the centre meeting in
making the mode of complaints. It should be ease and accessible to clientele
for resolving the issues on time, speedily and effectively.
Helpline number (Loan pass book)
Member complaint register
Federation Leader Meeting (Twice a year meetings in branches)
Direct mailing or Email / letter correspondence.
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17. The Board of Directors shall provide for periodical review of the compliance
of the Fair Practices Code and the functioning of the grievances addressing
mechanism at various levels of management. A consolidated report of such
reviews may be submitted to the Board at regular intervals, as may be
prescribed by it.
All complaints are carefully analyzed, authenticated and processed well for
providing appropriate solutions depending upon the level of the
complaints/issues and it the same should be escalate to the responsible person
at various levels to bring way out. (branch, division, region and HO).
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18. Category of code of ethics
The company follows :
Pure honesty and fairness in relationship with customers,
suppliers and employees.
The company will not do any act which is unlawful or improper that
harms the organization.
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19. Corporate governance :
The success of GVMFL has created interest among social investors
across the globe to collaborate in poverty alleviation efforts of the
organization.
GVMFL had received equity investments from renowned investors
Mr. Vinod Khosla and Unitus Equity Fund for the rest equity round
followed by investments from Micro vest, Amar foundation and
Unitus Equity fund for the second round of equity.
The presence of such strategic investors helps the company to have
good corporate governance and set the platform for taking the
organization to greater heights
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20. 5 Star Rating PLATINUM
from GIIRS :
Grama Vidiyal Micro Finance
Limited has awarded 5 Star Rating
- PLATINUM from Global Impact
Investment Rating System (GIIRS)
consecutively for the Third
year(2015) for maintaining good
corporate governance,
transparency, employee and
Community benefits.
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