Our purpose is to eradicate poverty. We do that by providing financial services to the poor and by using our channel to provide goods and services that the poor need.
Our vision is to serve 50 million households across India and other parts of the world and also to create a commercial microfinance model that delivers high value to our customers.
Right Focus - Customer first:
Our products, processes and people are all focused on creating the highest value for the customer. This includes being respectful to customers, understanding the needs of customers and being transparent with customers.
Right Means - Ethics always:
We will follow ethical practices in all our relationships at all times, including following the law both in letter and spirit. This includes not offering bribes, not paying or taking commissions, or any other short-cuts.
Right Way - Consistent quality:
We will have standardized processes as this will enable us to reach out to the most customers cost effectively. We will foster innovation but in a way that ensures consistent quality.
Launched in 1998, SKS Microfinance is one of the fastest growing microfinance organizations in the world, having provided over US $ 1.4 Billion (6,996 Crore) and has maintained loans outstanding of US$ 486 Million (Rs 2,432 Crore) in loans to 4,053,691 women members in poor regions of India. Borrowers take loans for a range of income-generating activities, including livestock, agriculture, trade (such as vegetable vending), production (from basket weaving to pottery) and new age businesses (Beauty Parlor to photography). SKS also offers interest-free loans for emergencies as well as life insurance to its members. Its NGO wing SKS foundation runs the Ultra Poor Program.
SKS currently has microfinance branches in 18 states across India. SKS aims to reach members 15 million by 2012. In the last year alone, SKS Microfinance has achieved nearly 170 % growth, with 99% on-time repayment rate.