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Grameen Koota Raises Rs.250 Crore from CreditAccess Asia

Grameen Koota, a Bangalore-based microfinance firm, has raised Rs.250 crore from its holding company, CreditAccess Asia (CAA), headquartered in Amsterdam, to support its growth. 

 


Grameen Koota Partners with Artoo to Develop Digital Lending Model
Grameen Koota has partnered with Artoo – a FinTech firm – to develop a digital lending model to launch Individual business loans. 
 

 


 

Grameen Koota to Mark Breast Cancer Awareness Through 'Jagruti'

To mark October 2016, designated as the Breast Cancer Awareness Month, DD Chandana will air a special program, sponsored by Grameen Koota’s Jagruti Initiative. 

 


 

Microfinance Firm Grameen Koota Lowers Interest Rates
Grameen Koota borrowers will now get education, water and sanitation loans at 18%, a significant 200 basis points reduction from 20% as charged earlier.
 


Grameen Koota Receives Microfinance Organization of the Year Award 2015 

Grameen Koota has been selected as the Microfinance Organization (Large) of the Year 2015 at the 7th edition of the Microfinance India Awards.


Nobel laureate Muhammad Yunus inaugurates Grameen Koota's new Corporate Office in Bangalore

World-renowned social entrepreneur, founder of Grameen Bank and pioneer of micro-credit, Prof Muhammad Yunus inaugurated the new corporate office of NBFC-MFI Grameen Koota in Jayanagar, Bangalore on Saturday, September 5, 2015.

 


Grameen Koota Slashes Interest Rates

Grameen Koota slashes interest rate by 200 basis points (2 percentage points) for education, water and sanitation loans, as part of its social objective to pass on benefits to its borrowers.

Grameen Koota’s portfolio crosses over Rs. 800 Cr and reaches above 5.50 Lac clients

Grameen Financial Services Pvt Ltd (GFSPL) popularly known as Grameen Koota (GK), a pioneer in the microfinance industry, operates across the states of Karnataka, Maharashtra and Tamil Nadu with its Head office in Bangalore.


Grameen Koota Receives Rs.50Cr NCDs (Non-Convertible Debentures) from Triodas Investment Management, Netherlands and Also Gets Upgraded to mfR2 by Crisil Rating

Grameen Financial Services Private Limited (GFSPL) widely known as Grameen Koota, has procured Rs.50 Cr through rated, secured, transferable, redeemable, listed non-convertible debentures (NCDs) from Triodos Fair Share Fund and Triodos Microfinance funds managed by Triodos Investment Management.


GFSPL gets a Social Rating of α- (alpha minus) as well as a Truelift Certification ofAchiever’ level by M-CRIL, and receives Smart Campaign certification award from the hands of Rural Development Minister Mr. Jairam Ramesh

This year end has been quite eventful for GFSPL as after receiving Rs.50 Cr through non-convertible debentures (NCDs) from Triodos Investment Management, Netherlands and getting upgraded to mfR2 by CRISIL Ratings, in the same month Grameen Financial Services Private Limited’s (GFSPL) efforts were acknowledged by more of reputed rating companies.


Grameen Koota raises Rs 53.20 cr in its 3rd round of equity funding

Bangalore-based Grameen Financial Services Pvt Ltd (GFSPL), popularly know as Grameen Koota today announced its third round of equity funding of Rs 53.20 crores from Creation Investments (Rs 37.5 crores), Incofin and MicroVentures...


Grameen Koota Receives Sanction of 4 Million USD Subordinated Debt from Global Commercial Microfinance Consortium II BV I

Bangalore headquartered microfinance company, Grameen Financial Services Private Limited(GFSPL) popularly known as Grameen Koota, has raised USD 4 million subordinated debt through rated, unsecured, redeemable, non-convertible debentures NCDs from Global Commercial Microfinance Consortium II B.V., Netherlands, a Fund managed by Deutsche Bank...


Grameen Koota wins top honours at the Financial Inclusion Awards 2013

Bangalore, 8th Jan 2012 After having been shortlisted as one of the top 50 projects in India in the Financial Inclusion (Microfinance) Sector, Grameen Financial Services Pvt Ltd,(GFSPL-popularly known as Grameen Koota) won the prestigious Skoch Financial Inclusion Award 2013 in the microfinance category...


Grameen Koota wins top honours at the Skoch Financial Inclusion Awards

After having been shortlisted as one of the top 50 projects in India in the Financial Inclusion (Microfinance) Sector, Grameen Financial Services Pvt Ltd,(GFSPL-popularly known as Grameen Koota) won the prestigious Skoch Financial Inclusion Award 2013 in the microfinance category...


Partcipants from 11 Countries Converge at the MIFOS Summit in Bangalore

Bangalore, 16th Oct 2012 : Members from over 11 countries converged at the ongoing MIFOS Summit in Bangalore, held by the Community for Open...


Grameen Koota to Hold Sanitation Workshops across its branches in Maharashtra

Grameen Koota to Hold Sanitation Workshops across its branches in Maharashtra :Toilets may seem as a frivolous topic, but...


Grameen Koota allows nursing breaks, work from home options for its women workforce

8th October 2012 : Grameen Koota allows nursing breaks, work from home options for its...


Grameen Koota Raises INR 25 Crores through Non-Convertible Debentures

June 20, 2012: Bangalore-headquartered microfinance firm Grameen Financial Services Private Limited (GFSPL), popularly known as Grameen Koota has...


Grameen Koota Announces Second Round of Funding 18-11-2009

Grameen Koota receives Over 27.5 crore in second round funding


R2 Funding Grameen Koota


Grameen Koota Receives Microfinance Organization of the Year Award 2015
Grameen Koota has been selected as the Microfinance Organization (Large) of the Year 2015 at the 7th edition of the Microfinance India Awards
 
New Delhi: Bangalore-based Grameen Koota has been selected as the Microfinance Organization of the Year (Large) 2015, at the 7th edition of the Microfinance India Awards. The Union Minister of State for Finance, Mr. Jayant Sinha, presented the award during the Inclusive Finance India Summit on Tuesday, December 8, 2015 at Hotel Ashok in New Delhi. 
The Award honours a microfinance organization, “which has stood the test of time, has combined growth with effective and efficient delivery of responsible microfinance services,” said the citation. 
                                           
Instituted by ACCESS Development Services with support from HSBC, the award carries a cash prize of Rs.100,000 and a citation. In the last seven years since the Awards were first instituted, they have come to be highly respected within the sector and are highly coveted.
 
“The 2015 Microfinance Awards are truly deserved for which I recall a quote: ‘There are four pillars on which you can build the platform, to reach the zenith of success: Dedication, Devotion, Discipline and Determination’-- Lakkoju Gautam. This is truly exemplified by the Microfinance India awardees,” said Mr. Vipin Sharma, CEO of ACCESS Development Services.
 
The jury member and sector expert, Mr. N. Srinivasan, said, "At a time when the industry was witnessing moderate growth rate, Grameen Koota demonstrated an impressive growth without compromising on social development goals for the customer."
 
Grameen Koota Managing Director and CEO Mr. Udaya Kumar, who received the award, said: “All these are possible only with strong and continuous support from our customers and employees, especially those who serve at the field every day. And an unstinted support from our Board of Directors, Management Team, Lenders and Regulators helped us in shaping Grameen Koota. It is a matter of great pride that our commitment to customers and our commitment to financial inclusion is being recognised.
 
Founded in 1999 by Mrs Vinatha Reddy, inspired by the Grameen Bank model of Bangladesh by Prof. Muhammad Yunus, Grameen Koota is registered with the Reserve Bank of India under the NBFC-MFI category. While inaugurating their new corporate office in Bangalore recently, Prof. Yunus said, "During the microfinance crisis, I used to respond to media saying that there is good MFI and bad MFI and you should not mix both. I used to confidently cite Grameen Koota example as a good microfinance. They've stayed on the right course."
 
Grameen Koota is one of the early financial institutions in the world to have been honoured by Smart Campaign for having met all the client protection principles and again re-certified in October 2015. With a top rating of ‘mfR1’ by CRISIL, Grameen Koota has 1.1 million customers and an outstanding portfolio of Rs.1,680 crore.
About Grameen Koota:
Grameen Koota Financial Services Pvt. Ltd. provides finance services to women from poor and low income households. The company offers income generation, home improvement, emergency, education, family welfare, and home construction loans; life and healthcare insurance products; and pension schemes, and non-financial services.
Grameen Koota was founded in 1999 and is headquartered in Bengaluru, India. With 298 branches spread across Karnataka, Maharashtra, Tamil Nadu, Madhya Pradesh and Chhattisgarh, Grameen Koota has 1.1 million customers, with an outstanding portfolio of over Rs.1,680 crore.
Grameen Koota has been awarded for re-certification by Smart Campaign for having met all the client protection principles. It is also one of the few MFIs to be awarded with Truelift Certification of ‘Achiever’s level’ and Social Rating of ∑α for its commitment on social performance and pro-poor business. Grameen Koota is one among the few with a top grade of ‘mfR1’ by CRISIL for its quality. It has been accorded a high Credit rating of ‘A-‘ by ICRA among MFIs in India.
Grameen Koota has been working with Joint Liability Groups formed exclusively of women belonging to poor and low income households by providing them with financial literacy and diverse credit products, catering all life-cycle needs such as income generation and access to water, sanitation, education, health care, home repairs, emergency loan etc. It gives its clients the option to repay weekly, fortnightly or monthly, depending on their cash flow and convenience. Grameen Koota’s social awareness campaign ‘Jagruti’ has become an important source of information across its women borrowers since 2011.
For more information, please visit:  www.grameenkoota.org
Photo Caption: Grameen Koota Managing Director and CEO Mr. Udaya Kumar receiving the 'Microfinance Organization of the Year 2015 Award' from the Minister of State for Finance, Mr. Jayant Sinha, on Tuesday, Dec. 8, 2015, at the Inclusive Finance India Summit in New Delhi.
 
Media Contact Details
Vikash Kumar, Grameen Koota, +91-9535186668 , This e-mail address is being protected from spambots. You need JavaScript enabled to view it
 
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