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Annapurna Microfinance Pvt. Ltd. (AMPL) is categorized as NBFC-MFI and is one of the fastest growing microfinance firms in the country. The inception of Annapurna Microfinance took place in early 1990s, where it was registered as Peoples Forum and did a lot of of developmental activities as a non-profit organization. In the year 2005, Mission Annapurna emerged from People Forum and thus started the microfinance activities.
Objective
- To create and endorse formation of groups of poor, needy and oppressed women who help each other improve their living conditions with the help of economic activities.
- To give higher preference to women and include them in production and other related activities so that additional source of income is generated for the families.
- Provide families with technical assistance so that they can start building their own capital with better saving techniques using the additional source of income.
- Empower women by provisioning financial help.
Social Objective
- To deliver micro financial services to families who have been identified as ‘Below Poverty Line’.
- To entrust people of special categories such as transgender, widows, disabled people etc. with microfinance services.
- To provide financial support to people of scheduled caste, schedules tribes and other minority groups.
- Provide micro loans for sanitation and health benefits with the aim to improve the social life of communities.
Environmental Objective
- To ensure improvements in reduction of environmental impact due to the microfinance loans.
- To incorporate better standards of internal operation so as to reduce carbon footprint.
- To design products in a better way so as to provide with sustainable and environmental friendly products.
Mission Annapurna reached to the interior locations of Odisha, to provide economic support to poor women right at their door steps. As the entity kept growing, there was a need for more regulation and thus in the year 2009, Mission Annapurna transformed to Annapurna Microfinance Pvt. Ltd. The bank achieved RBI registered NBFC-MFI status in the year 2013.
All through the development of the organization, there have been two core principles around which all the activities are based – Innovate and Replicate. Annapurna has evolved its innovative products and services and trying to make the micro-credit delivery process effective. Once these innovative products are in place, next in turn is replicating those in new places with equal amount of enthusiasm and energy. Another important focus point for Annapurna is to reach out to places where usual financial institutions are not present due to lack of profitability. They not only tried to reach out to the poor and provide them with services, but also ensure that they get the right amount of technical and financial support to strive in their business endeavors.
Mr. Gobinda Chandra Pattanaik is the managing director and Mr. Dibyajyoti Pattanaik is the director for Annapurna. The registered address for Annapurna bank is 1215/1401, Khandagiri Bari, Opposite Jayadev Vatika, Khandagiri, Bhubaneswar. Odisha – 751030.
