saija finance celebrates 10 years of serving rural women in india

saija finance celebrates 10 years of serving rural women in india

PATNA, MARCH , 2019: Saija Finance, a non-banking finance company
(NBFC) commemorates its 10th year of improving the lives of rural women
in India at an event called GARIMA. The company initiated operations in
2008 at Patna.

Bihar remains one of the poorest states in India and is home to over 120
million people. Over 60 % of the population falls in the underserved
category. Bihar also did not have a successful Bank / NBFC since the
formation of the state a hundred years ago. Hence both the need and the
challenge to set up a successful bank in the state of Bihar. It is in
this backdrop, that Mr.S R Sinha and Mrs. RashmiSinha launched the
Microfinance initiative in Bihar in 2008.

saija finance celebrates 10 years of serving rural women in india

On this special occasion, MR. SINHA, CMD, SAIJA Finance says, “As
Saija completes 10 successful years of business operations, we are well
poised to become a scheduled commercial bank with a strong base in the
state of Bihar. We take this opportunity to extend my sincere gratitude
to over six lacs of our women clients whose creditworthiness and
disciplined conduct has been the key to the success of Saija. We also
sincerely thank my dedicated workforce, many of whom successfully
completing 10 years at Saija. We would like to thank Accion, a global
nonprofit dedicated to creating a financially inclusive world and our
partner for the last ten years. Thanks to Saija’s eminent and
illustrious Board members, whose monitoring and guidance have helped us
create a thriving organization. We have also received strong support by
way of equity, loans and grants from Commonwealth Development
Corporation (CDC), Small Industries Development Bank of India (SIDBI)
and capital First (now IDFC First Bank) during this journey.

Congratulating Saija on this very occasion, MR. MICHAEL SCHLEIN, CEO AT
ACCION expresses, “Promoting financial inclusion in rural India is
critical, and leaders like Saija, who are operating in areas of Bihar,
Jharkhand, are demonstrating innovative ways to challenge geography to
build a financially inclusive platform that offers services to the most
vulnerable and economically active section of society,” said Michael
Schlein, President, and CEO of Accion. Accion has partnered with Saija
since its seed stage, and Saija’s growth, success, and focus on
delivering inclusive financial services to underserved clients has made
them a great Accion partner over the last decade. Congratulations to
Saija on this important milestone.”

Over the last 4 years, Saija and Greenlight Planet have been
instrumental in delivering clean energy access to more than 6 lakh
individuals in India. From the time we began our partnership with them,
we were assured that it would be a long-lasting relationship. We
congratulate them on completing 10 years of operations in India and wish
them all the luck for a successful future”, saysMR. SAHIL KHANNA,
home energy company that helps Saija works towards energy inclusion for
rural India.

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