Bharat Financial Inclusion has launched Aadhaar-based instant and cashless loan disbursal. The company has commenced national roll-out of the process beginning with loans to members of joint liability groups in this village, which is about 60 km from Jaipur. This is based on a pilot we conducted in Odisha during September-December 2016. The complete roll-out across all the company’s locations in the country will be over by June 2017.
This is expected to benefit 66 lakh MUDRA loan beneficiaries nationally. The new process is based on adoption of digital technology with combined use of a tablet and dongle by loan officers for applicants with Aadhaar cards.
Bharat Financial Inclusion (formerly known as SKS Microfinance) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. The company's mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.