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

September 1, 2006
SKS Microfinance Launches Urban Microfinance Program in Hyderabad, Andhra Pradesh
Hyderabad, India � SKS launched its first urban microfinance program today in Hyderabad, Andhra Pradesh. The pilot program will run for four-and-a-half months, from September 1st, 2006 to January 15th, 2007, and serve over 800 members spread across a number urban slums in the twin cities. SKS has opened two branches in East Marredpally and Hyderguda to better reach these populations. The program is modeled after SKS� successful rural microfinance initiatives with minor modifications to suit the urban environment. The program uses a similar methodology � lending to individual members through joint liability groups � to catalyze a number of income generating activities undertaken by the members; including tailoring shops, tiffin centers, general stores and bangle shops.

If the pilot is successful, SKS will roll out operations in urban centers throughout the country. �With over 25% of the country�s poor living in cities, it is essential that SKS work in these areas to have a widespread and lasting impact on poverty alleviation,� said Mansi Kohli, Project Manager, Urban Microfinance. �Through the pilot study we hope to gain a better understanding of the urban market so we can effectively and efficiently roll out country-wide.�


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