Bhartiya Samruddhi Finance Ltd. (BSFL), an Indian microfinance institution that is a member of the BASIX Group, recently entered into a strategic partnership with Micro Home Solutions (MHS), a social enterprise based in India that provides housing to poor urban residents. In a press release, BSFL Chief Operating Officer, Mr D Sattaiah, explained, “Providing housing, finance and technical assistance to low-income households … contributes to enhancing the quality of livelihoods…. The BASIX-MHS product will ensure both timely financial and quality technical assistance in [clients’] home improvement projects.” As partners, BSFL and MHS will offer some services jointly and work together to ensure that clients receive services efficiently and cheaply. Further details have not yet been made public.
About Bhartiya Samruddhi Finance Ltd. (BFSL)
Bhartiya Samruddhi Finance Ltd. (BSFL) is a regulated non-banking finance company (NBFC) based in Hyderabad, India, and founded in 1997. It is part of the BASIX Group that provides financial services, agricultural/business development services and institutional development services. As of March 31, 2009, BSFL had a gross loan portfolio worth over USD 73.6 million, and 498,681 active clients.
About Micro Home Solutions (MHS)
Micro Home Solutions (MHS) is a multidisciplinary social enterprise based in New Delhi, India, that provides viable housing solutions for low-income, urban families. The organization aims to introduce sustainable design and microfinance-based principles to facilitate access to quality housing.
By Eric McKay, Research Assistant
Bibliography
[1] BASIX press release, “Bhartiya Samruddhi Finance Joins Hands with Micro Home Solutions”, http://basixindia.com/updates/mHS%20BASIX%20partnership%20news%20march2010.pdf
Additional Resources
MicroCapital Universe: Bhartiya Samruddhi Finance Ltd. (BFSL): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bhartiya+Samruddhi+Finance+Ltd
MicroCapital Universe: Micro Home Solutions (MHS): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Micro+Home+Solutions+%28MHS%29
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