Introduction

Kamal & Company Group started Micro Finance operations under Kamal Auto Finance Limited in 2009 with the help of MicroSave. The Directors were greatly impressed with Mr. Vijay Mahajan and work done by Basix, during their exposure visit and decided to start the venture. The portfolio grew to the size of Rs. 85.57 million by March 2010- 11. KAFL faced problem in scaling up the microfinance business because of its legal structure. To overcome this hurdle, Saarthi Credit-co-operative society was incorporated under societies act in January 2012. In August, 2012 Saarthi got into a BC partnership with Yes Bank . The AUM grew to INR million 612.88 in March, 2014. In November 2013, there was an opportunity to start microfinance business with Yes Bank in MP. Since, Saarthi had permission only to operate in Rajasthan. So, KFC (a group company) was used as vehicle and an agreement with Yes Bank was entered into. In Jan, 2015, the group decided to have a single vehicle for its BC business under KFC. The transition started in March 2015, which resulted in minor slip in Disbursement figures during the period.



Till now Group has cumulatively disbursed more than INR. 240 crores with Loan loss of less than 0.1 %

  • KFC’s operations commenced in Nov. 2013, after the acquisition of BC licence from Yes Bank Limited.
  • It Added Another Partnership with Reliance Commercial Finance in November 2016
  • Its registered office is in Jaipur, Rajasthan and corporate office in Kota, Rajasthan.
  • KFC is led by strong management team with significant experience in Micro finance industry.
  • KFC provides microfinance using the JLG model as per requirement of the Yes Bank Limited.
  • It operates in both urban and rural areas.
  • Currently KFC operates in 11 districts of Rajasthan and 5 Districts of Madhya Pradesh.
  • The future target geography for KFC’s services is the large belt of western and central India specifically, Chhatisgarh, and Gujrat.

OPERATIONAL SNAPSHOT


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Number of districts
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Branches
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No. of Active Loan Clients
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Gross Portfolio Outstanding
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No. of Employees

PRODUCT PORTFOLIO


Present

Loan Amount Tenure
20,000 18
26,000 18
30,000 18
32,000 18
35,000 18
Interest Rate: 24% p.a.
Processing Fee: 1.18%
Insurance Premium: 1.51%
Repayment Frequency: Monthly