About Navodit
About Navodit Foundation
Navodit foundation, a leading Company with the core objective of reaching out the unreached poor, where poor cannot have access to credit from formal financial institutions at affordable rate of interest and at right time. Navodit foundation registered under Section 8 of Companies Act 2013 on 18.11.2021. Lending operations started only in December 2021 from 14-12-21 after completing all the formalities such as putting in place the systems and procedures. Navodit foundation has started his operations from Varanasi District of Uttar Pradesh. The Company is having eminent personalities as Directors and Top Management team those have rich experience in Banking, Microfinance, Social Sector, Finance and Technology etc. They are guiding the Navodit at apex level and Navodit will become a replicable model.
The systems and procedures are well led down and followed meticulously. The USP of Navodit is following the high standard of transparency. Navodit foundation business model is extending to Navodit foundation members in rural areas for livelihood activities. The activities cover Agriculture, allied agricultural activities, very small businesses etc. through SHG/JLG Model. The entire business model of Navodit foundation complies strictly with the guidelines issued by Reserve Bank of India from time to time. We are following RBI guidelines strictly as applicable to NBFC-MFI.
Objectives of Navodit Foundation
Navodit foundation is committed to promoting livelihoods for Navodit foundation members. The livelihood approach considers the household as an economic unit. It also takes into account that families have a livelihood strategy which differs from family to family and which comprises several activities. Sustainable poverty reduction can be achieved through the promotion of livelihood strategies. Navodit foundation has taken many initiatives to upgrade the skills of Navodit foundation members and enabled them to undertake livelihood activities. Navodit foundation aims to make microfinance financially self-sustainable. We use systematic processes, technology and training to help quality service to our borrowers.
- To work with the poor and to make them bankable
- To reinforce their efforts to rise and remain above the poverty line
- To provide need based credit to rural area to SHG/JLG
- Thrust is on Women Empowerment and development to make them economically, socially strong and health.
- Reach out to the unreached poor who have no access to credit from formal financial institutions at an affordable rate of interest.
- To provide loans to individuals under joint liability concept.
To be a catalyst for the socio- economic upliftment of 1 million households by year 2027
Navodit Foundation aims to make financial services easily available to the financially excluded and MSME entrepreneurs through efficient, customer friendly and technology driven solutions.