Financial Inclusion

BWDA firmly believes that financial inclusion i.e. delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society and linking of the poor to mainstream financial services is the key to empowerment.

BWDA through the SHG movement creates savings habit and internal rotation of funds among its members. The members are also linked to mainstream banking. BWDA also facilitates credit linkage through banks, government, and BWDA microfinance program for income generation and livelihood activities. BWDA initiated the BWDA micro-finance program on 09.09.1999 with the first loan assistance from RMK, New Delhi. BWDA received loans for on-lending from the Govt., financial institutions, and banks like RMK, SIDBI, VGB, SBT, IOB, FWWB, HDFC, Dhanalakshmi Bank, CORDAID, RABO Bank Foundation, etc. for the microfinance program.

In 2003, BWDA acquired an NBFC, renamed BWDA Finance Limited (BFL) to streamline its financial inclusion operations.  BWDA resumed lending activities under the Business Correspondent Model in 2011 in partnership with Yes Bank. BWDA also partnered with IDBI Bank in March 2015 and SBI in January 2016. BWDA as a BC offers credit services in partnership with Yes Bank and IDBI and liability services with SBI. Over INR 39797.27 lakhs has been disbursed to 1,41,406 members through the BC model.

Through the BWDA Microfinance Programme, BFL, IDBI, and  Yes Bank BC Model, BWDA has enabled 1,35,258 SHGs (cumulative) and 16,08,518 members/borrowers (cumulative) to get Rs. 1479.27 crores (cumulative). The total portfolio as of March 31st, 2020 is Rs. 10083.33 Lakhs. BWDA also facilitates Pension Schemes like National Pension Scheme and Atal Pension Yojana which has benefitted 31348 members. BWDA has linked 3,32,933 members to insurance services through various partnerships. BWDA also offers remittance services to members through Western Union and SBI. BWDA SHGs have INR 38626.00 lakhs as savings which they use for internal lending.