SKS CEO and Founder, Vikram Akula, recognized by Time Magazine as one of today's 100 most influential people 

March 31, 2006
SKS Microfinance Reaches New Heights, Providing Loans to 200,000 Members and Insuring 500,000 Lives

Hyderabad, India � SKS Microfinance Pvt Ltd. is pleased to announce that it is officially offering financial services to more than 200,000 clients, and insuring 500,000 lives, in over 80 branches in the states of Andhra Pradesh, Maharashtra, Karnataka, Orissa and Madhya Pradesh.

SKS offers loan products to members that allow for investment in income-generating and small enterprise activities. SKS life insurance policies allow a client�s family to be protected from the unfortunate circumstance of death; when a member or member�s husband perishes, the remaining spouse is no longer responsible for the repayment of the loan. The full loan amount and interest is immediately written off and any past repayments are paid back to the family, allowing the grieving process to continue without the worry of financial burden.

Regarding this recent milestone, CEO and Founder, Vikram Akula, remarked, �these accomplishments mark a significant point in SKS outreach efforts. As we continue to pursue our ambitious goal of �7 and 7�, 700,000 clients by 2007, we hope to continue providing quality service to our members. Today, it is now feasible for more than 200,000 members to take out loans and, in parallel, clients and their families are being safeguarded from the worry of financial strain due to death in a family. These loans and policies truly serve as vehicles for greater economic freedom for SKS clients and their families.�

For further information, please contact: [email protected]



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