BHARTIYA Micro Credit (“BMC”) is a micro-finance company registered & licensed as Non Profit Making Company (Non Deposit taking) under section 25 of the Companies Act, 1956 and is exempt from the provisions of Chapter III B of the RBI Act, 1934. As per the new Companies Act, 2013, Section 25 has now become Section 8. It got registered in the year 2007-08. Initially organization provided financial services to poor rural/semi urban families in Central & Eastern Uttar Pradesh, and Uttrakhand to enable them to augment income-generating activities. It also provides insurance products by collaborating Insurance Companies to assist in asset development, as well as a complementary loan product for special emergencies. We have expanded our activities in NCR New Delhi, Madhya Pradesh and Andaman & Nicobar Islands by opening branches in New Delhi, Indore, Bhopal and Port Blair, Maharashtra, Bihar and intend to expand our wings pan India in near future. Within a short span of time of less than 8 years the BMC has proved its strength by making a place for itself with in top 100 MFIs’ in the country.
As an organization dedicated to the socio-economic development of rural/semi urban communities, BMC is also looking to facilitate additional services to its clients through alliances with other organizations in the area of health, education and vocational training.
Presently organization is engaged in microfinance operation and operating through 54 branches. The loan amount is utilized for various income generating activities like small shops, small trade, animal husbandry, paidal rickshaw, erickshaw etc.
Main focus of the organization is to enhance the income of households and improve the status of women in the society. It is important to mention here that income of the households has increased to a certain extent and most of the clients are now entitled for 2nd cycle of loan therefore, the average loan size will improve by about 30%. However, there is large portion of the population who are yet to be covered under financial inclusion, therefore much scope to expand.