Impact Investors Tag: Poor 1
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The company has been formed for the purpose of extending micro credit to people who are otherwise unable to access finance from the mainstream banking channels. The alternate source for such people normally is the private money lenders whose rates of interest ranges anywhere from 30% to upwards of 100%.The objective of the company is to make available finance at reasonable cost and in a transparent manner to such customers and aim to achieve acceptable returns on investment so that we can continuously attract mainstream capital and human resources to better serve the chosen client segments.Equitas Development Initiatives Trust (EDIT) is a not for profit organization formed for the purpose of promoting education amongst poor children and also seek to play a positive role in the lives of ultra poor such as pavement dwellers and beggars. The company is committed to contribute 5% of its annual profits to this Trust.Mr. Vasudevan comes with substantial experience in the NBFC business having been Vice President in Cholamandalam Investment & Finance Co Ltd Chennai handling their retail business division comprising of vehicle finance with operations and as head of Retail Banking in Development Credit Bank Limited Mumbai.
|Type: Investment Fund Manager||Geography: India||Impact: Community Development|