Mahagram customers to be benefited by 15000 eGram, Bank Mitra and BC agents in credit delivery services.

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Mahagram is assisting mainstream banks in providing credit services to the doorstep of the low-income segments. It is not only focusing on banking and financial services but also emerging as a sustainable and scalable business correspondent (BC) of a commercial bank. Mahagram will act as an agent for the bank and enable low-income group to avail numerous financial aids. Mahagram is working with the MFI (Microfinance Institutions) at the strategic level in developing a BC strategy and expanding banking partnerships for the BC channel.

 

Based on the regulations and guidelines of the participating banks, Mahagram with its wide range of retail touch points such as 15000 eGram, Bank Mitra and BC agents is working in the urban and rural areas across the country. In order to enable the latter to speed up their credit decisions, the company will assist the lenders in the canvassing of loan products, identification of eligible customers, due diligence of customers, application filling and submission to the nearby branches.
Mahagram is dedicated to help their lending institutional partners that involve microfinance loans, loans for vehicles & housing loans in expanding their portfolio from 100 to 150 Cr. during the first year. Mahagram believes that the extension of credit facility to the deprived people at the right time improves their efficiency and productivity that results in enabling people to take part in the socio-economic fabric of the society. The loan process will be easy for the needy with simple documentation and allows deprived people to use the credit for both production and consumption.

 

“If combined with information and communication technologies, microcredit can unleash new opportunities for India’s poorest entrepreneurs and thereby revitalize the village economies they serve” – Ram Pathade, CEO, Mahagram.

 

“Small lending institutions lack the capability of their larger counterparts to hire the additional manpower necessary to deal with the additional regulations created from time to time. The business correspondent model will bridge this gap.” – Laxman Rao, Chairman, Mahagram and Ex-General Manager Union Bank of India.

 

MFIs are finding the BC model emerging rapidly to carry out their activities on the credit side and to spread it to deposit-taking. With this principle, Mahagram is giving outreach to the lenders such as public and private sector banks that encompasses small loan banks, payment banks and co-operative banks. This ideology enables people to extend their credit through better due diligence, simpler identification and hassle-free onboarding of the customers whose antecedents are well known to its agents.

Mahagram will also assist the lenders in loan recovery through the oral reminders, issuance of recovery notices and use of softer recovery strategies. It will also recover the loan installments from the borrowers on the behalf of lenders. For undertaking the asset creation process, the agents would be trained by the in-house trainers as well as trainers of the lending institutions on various aspects of lending and recovery methods. The agents would also form Self Help groups and Joint Liability groups in their command area for extending Microfinance products.

 

About Mahagram

Mahgram is Mumbai based ‘Fintech’ startup. It is a tech driven company focusing on alternate payments technologies. By partnering with banks and financial institutions providing hundreds of millions of Indians who are under-banked and who do not have the capability to resolve basic banking services and government schemes. The objective is to help customers with travel costs, retails and financial services through the internet. They help government and its local government bodies with automated and computerized certificate issuance & Tax/Cess collection. Their mission is to entitle every Indian with an easy means of approach to digital payments.

With this payment gateway and easily accessible usage, people of rural and semi-rural areas across India can leverage upon the offered facilities. The purpose of Mahagram is to make it easy for customers who are under no-data connectivity or still using old feature phones. This initiative is sure to act as a major catalyst for digital payments a big leap towards Digital India.

http://mahagram.in

https://www.facebook.com/mahagram

One comment

  1. kunj bihari sharma says:

    sir iam intrested the egram ple call to me my shop shree bankey bihary patanjali arogy kendra and shree bankey bihari darmkanta kirvali road achnera pin code.283101 mob 9897640799/9084273938

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