Welcome to GDF

M/s Grameen Development & Finance Private Limited formerly known as M/s Sharnarthi Leasing & Finance Private Limited (hereinafter mentioned as “The Company”) is a NBFC-MFI registered with Reserve Bank of India, Guwahati. , and has been working as an NBFC Microfinance Institution, which was originally registered with RBI, Chandigarh regional office. The Company is based in Chhaygaon, Kamrup, Assam and currently operating with 17 branches across 3 states of North East India viz. Assam, Meghalaya and Nagaland.

However, being a non-profit entity, Grameen Sahara (i.e. NGO) is not an ideal way for continuing microfinance activity in long run. At the same time, RBI has created new category of NBFC called NBFC-MFI to regulate the Microfinance sector. As a result, banks are reluctant to provide loans to NGO-MFIs, which affect the NGO’s planning to cover more beneficiaries & area and attain growth. Therefore, need has arisen to transform its Microfinance programme into an NBFC.

Thus, to transform into an NBFC, a Chandigarh (Punjab) based NBFC called M/s Sharanarthi Leasing and Finance Pvt. Ltd. was acquired and completed the transformations.

The chronology of the process is as follows:

» Regional Director (NR)-MCA passed its order to transfer the ROC from Chandigarh to Shillong vide order dated 11-12-2013.

» ROC, Shillong issued new CoR on 16-01-2014.

» RBI, Guwahati issued new CoR on 14-03-2014.

» Name has been changed into M/s Grameen Development & Finance Pvt. Ltd. ROC, Shillong issued fresh CoR under new name on 08-08-2014.

» RBI, Guwahati has also issued fresh CoR under new name on 18-08-2014.

» Re application for NBFC-MFI classification is under process with RBI,Guwahati.

» Receipt of NBFC-MFI classification in December, 2014.

The process of successful transformation can be attributed to the untiring effort of the Board of Directors along with the perspiration of the microfinance personnel. After the transformation process special care is taken for acquisition of portfolio of the old entity by the new one. In the Financial Year 2014-15 all total INR 3.79/- CR for 7 branches was acquired by The Company. After the acquisition as on 31-03-2015 the NGO has a portfolio outstanding of INR. 5.8/-CR. the NGO’s portfolio is supposed to be come down gradually because all disbursement to the clients of The NGO will done by The Company.

To mention here the microfinance programmes of the Company have been supported by various Governmental and Non Governmental Agencies such as NEDFi, National Backward Classes Finance & Development Corporation (NBCFDC), Assam Financial Corporation (AFC), Allahabad Bank, IDBI Bank and Assam Gramin Vikash Bank. As on date the Company has been working with more than 13,000 families with microfinance operations.

The Company is in operation since last three years have the following strengths and disciplines:-

  • The Company has a strong Board of Directors along with a team of professionals from different fields like management, engineering, agriculture, economics, commerce, science, social work, etc.
  • The Company’s activities are being implement under the strict compliance of RBI guidelines;
  • The Company has its own Fair Practice Codes, which has been developed at par with RBI guidelines and Industrial ethics;
  • The company is rated by international level reputed Rating Agency CRISIL, which have been accepted by the funding agencies like SIDBI, NEDFi, AFC, Oiko Credit, banks etc as qualified investment grades.
  • International Finance Corporation (IFC) has selected the company to sponsor it’s Risk Management Framework exercise. The exercise is being done by an internationally reputed consultancy firm Deloitte Consulting. With this, the company will have its own Risk Management Framework, which will help in a way that will ensure convenient and easy services to its target borrowers while minimizing the risk weighted portfolio management.
  •                                                                                                                                                                                             Portfolio Statistics
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     Portfolio As on:  31-10-2019
    No of States 4
    No of Districts 13
    No of Branches 24
    No of Staffs 138
    Loan Ost (Cr) 39.96
    No Active Borrowers 20064
    Repayment Rate 99.51 %
    PAR >30 0.63 %
     Portfolio (Managed) As on:  31-10-2019
    Loan Ost (Cr) 29.27
    No Active Borrowers 10281
    Repayment Rate 99.31 %
    PAR >30 Days 0.33%
        Product & Services

    The Company offers following set of microfinance services:

     JLG loans for working capital needs and income generation.

     Individual loans for working capital and asset creation for existing business.

     Insurance (In collaboration with Bajaj Allianz.

     Credit Plus Services.

    In short, the Company provides loans to both men and women for meeting their working capital needs and diversifying income sources by taking up livelihood activities and also for up scaling existing businesses through assets creation. It works with poor as well as not so poor categories of people living in both rural and semi urban areas. The following table describes about the different features of the Loan products offered by the Company.

        JLG & Individual Loan

    Purpose:-Income Generation

    Loan Amount:- INR 10000-60000/- in first cycle and maximum INR 10000/- increment in next cycle.

    Rate of Interest:- Maximum 24% reducing rate per annum.

    Loan Processing Fee:- 1% of gross loan amount.

    Security:- NIL

    Membership Fee:-NIL

    Repayment Period:- 1 to 2 years (When loan amount>Rs 30,000/- Repayment period is 2 years.)

    The Company’s loan product is exclusively offered for income generating activities and thereby 100% of its loan portfolio is exclusive for income generating activities. The Company offers following values with its services:

     » Easy and simple process of accessing its services.

     »  Door step delivery and collection of loans.

     » Less time consuming procedures.

     » Different repayment schedules for different segments in accordance to RBI norms.

     » Facilitate need based technical services.

     » Facilitate insurance services.

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      Sarat Chandra Das
      Managing Director

      Sarat Chandra Das

      Managing Director

      Sarat Chandra Das is a graduate in Agricultural Science from Assam Agricultural University and holds a PG Diploma in Rural Development. He is a Certified Expert in Microfinance (CEMF) from Frankfurt School of Finance and Management and an MBA holder from the esteemed IIBM Institute of Business Management.

      During his 15 years of experiences in the development sector and microfinance management he has been an asset to the associated organizations. He was associated with Rashtriya Grameen Vikas Nidhi (RGVN), Guwahati, for a period of 7 years in its core microfinance program where he worked in various capacities and finally became the operation head. He then associated himself with the industry association - Sa-Dhan, New Delhi with its financial standards group as a senior program executive and worked there for a year and a half. After Sa-Dhan he joined HDFC bank, corporate banking division, and looked after the agri and microfinance portfolio of the NER of India independently for a year.

      Sri Sarat Ch. Das is one of the promoters of the company, GDFPL. Before joining as the Managing Director of the company, Mr. Das was leading Grameen Sahara - a development support organization running various development projects with professional management teams. In 2002, during his association with RGVN he founded Grameen Sahara and has been successfully managing various development projects. His vast experience in microfinance from field operation management to policy making and strategy formulation has helped the organization in achieving goodwill among the beneficiaries. Presently, Mr. Das is also holding the position of honorary Secretary of Grameen Sahara.

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      Mr. SK Baruah
      Nominee Director

      Mr. SK Baruah

      Nominee Director

      Srijib Kumar Baruah has a wide variety of qualifications like M.B.A., LL.B., and Associate Member of Institute of Company Secretaries of India. He is currently the Executive Director of North Eastern Development Finance Corporation Ltd. and represents NEDFi in most of the NBFC-MFIs operating in North East Region. Mr. Baruah has been on board with GDFPL from 2014 as a Nominee Director and brings in with him vast knowledge and experience. His area of experience includes Civil Administration, Accounts, Company Secretarial Affairs, Human Resource Development, Legal & Recovery, Business Development, Consultancy & Advisory and Micro Finance.

    • Director

      Mr. Dandi Ram Kalita

      Mr. Dandi Ram Kalita


      Dandiram Kalita is a retired banker. After graduation from the esteemed Cotton College, Guwahati, he joined Allahabad Bank and served there for over 35 years. While he was with Allahabad bank he worked in various capacities and retired as a senior manager. During his association with Allahabad bank he also served the PSU Bank Officers’ association as its secretary for several terms. He holds a crucial directorship position in the company, GDFPL and brings in with him extensive experience of branch banking and retail banking. He has been the integral part of the various committees, such as the Audit Committee, Sexual Harassment Committee, Social Performance Management Committee, Grievance Redressal Committee and so forth, formed in the company. He along with the other Directors is responsible for taking various finances related decisions in the company.

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      Mr. Mrinal Baishya
      Independent Director

      Mr. Mrinal Baishya

      Independent Director

      Shri Baishya retired as General Manager of United Bank of India. He was deeply involved in the rural banking of North Eastern Region for over last four decades. As General Manager of NE Region and subsequently at all India level, Shri Baishya was coordinating, supervising and implementing the bankable projects through the network of rural and semi urban branches more particularly in microfinance sector. He was also associated from the beginning with the implementation of the Lead Bank Scheme of the Reserve Bank of India in the allotted districts and States coordinating the activities of the State Governments and financial institutions for concerted developmental efforts. Pragjyotish Gaonlia Bank, which was the major constituent of the present Assam Gramin Vikash Bank, was brought to the limelight as the successful Regional Rural Bank during the tenure of Shri Baishya as Chairman of that Bank. After retirement, he was associated with two leading micro finance institutions of NE Region besides heading the Counseling Centre for MSME set up by SIDBI and United Bank of India in its first year of operation

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      Mr. Tilak Das
      Independent Director

      Mr. Tilak Das

      Independent Director

      Shri Tilak Das is a graduate in Agricultural Science with Agricultural economics as specialized subject from Assam Agricultural University. During his illustrious career of over 35 years, Mr. Das attended various training programmes, seminars, and visited different places of India and abroad for exposure trainings. Some of his activities and achievements are as follows:

      • Pioneered designing and implementing the process of electronic benefit transfer (EBT) of funds to beneficiaries under Direct Cash Transfer (DCT).

      • Set up of Rural Skill Development Training Institutes (Rsetis) under the aegis of Ministry of Rural Development, Govt. of India and Financial literacy centers and conducting financial literacy camps across the region.

      • Developed bank credit model for financing value chain in the eco system of Tea growers in Assam, Strawberry and turmeric growers in Meghalaya, Floriculture in Mizoram and Tripura, Passion fruit , King chilies & turmeric growers in Manipur & Nagaland etc. • Participated in review and policy formulation meetings in rural credit, financial inclusion, SHG bank linkages of Reserve Bank of India, NABARD, Govt. of India and various State Governments.

      • Implemented Business Process Reengineering initiatives at branches and centralized processing cells in North Eastern Circle as internal consultant to Mckinsey & Co and leader of implementation team for Business Process Re-engineering in the Bank.

      • Attended as Guest faculty in Institute of Bank Management; National Institute of Rural Development; State Institute of Rural Development, Assam; Assam Administrative Staff College; and NIT Arunachal Pradesh.

      • Attended Strategic Leadership Development Programme in IIM, Kolkata; Credit Management Programme at State Bank Staff College, Hyderabad; Intensive Technology Development Programme at State Bank Institute of Communications Management, Hyderabad; Neurological Linguistic Programming (NLP), by BIRD, Lucknow & IIBM, Guwahati.

      • Visited Andhra Pradesh to study SHG movement as a core committee member of NRLM, Govt of Assam along with State and Central Govt. officials.

      • Visited Bangladesh to study SHG movement by Bangladesh Gramin Bank and interaction with Nobel Laureate Prof Mohammed Yunus, sponsored by NABARD • Visited Germany & Netherlands for Agro business and agro-Processing in Organic farming, floriculture, cold chain and Commercial Dairy Value chains organized by Reserve Bank of India.

      • Visited Renten Bank and Rabo Bank in Europe, organized by Reserve Bank of India.

      Mr. Das retired as a Deputy General Manager and Head of Rural & Agri Business and outreach in State Bank of India, Local Head Office, North Eastern Circle, Guwahati. During his last assignment, he had the responsibilities of financial inclusion, SHG bank linkage, development of rural & agri business, lending to MFIs. He also was discharging the role of convener of lead bank in the region and monitored five Regional Rural Banks sponsored by State Bank of India, for the North eastern States. He has got over 35 years of experience with multiple responsibilities.

          Frequently Asked Questions
    Source: Microfinance Information Exchange

    Ans. Microfinance is the supply of loans, savings and other financial services to the poor. The term “micro” is in reference to the small amounts typically involved in the practice. These services are small – “micro” – because a person who does not have a lot of money most likely will not need a loan of several thousand dollars. However, a loan of a few hundred dollars may make a huge difference in their lives, giving them the ability to purchase livestock for a small farm, a sewing machine to help make accessories and clothes, or supplies for a small store, for example. The poor throughout the developing world frequently are not part of the formal employment sector. They may operate small businesses, work on small farms or work for themselves or others in a variety of businesses. Many start their own “micro” businesses, or small businesses, out of necessity, because of the lack of jobs available.

    Ans. A microfinance institution (MFI) is an organization that provides microfinance services – loans, savings, maybe even insurance – to the world’s poor. An MFI can operate as a nonprofit such as a non government organization (NGO), credit cooperative, non bank financial institution (NBFI), or even a formal, regulated for profit bank. MFIs differ in size and reach; some serve a few thousand clients in their immediate geographical area, while others serve hundreds of thousands, even millions, in a large geographical region, through numerous branches. Many MFIs offer services beyond loans and savings, including education on business and financial issues and social services focused on health and children.

    Ans. Poor people in developing countries usually do not qualify for any type of services from the formal banking sector: they typically have no credit history, and most are not employed in the formal sector, so there is no record of employment. Moreover, they are unable to provide collateral. And in many parts of the world, opening a savings account at a traditional bank requires a certain amount of money be deposited, and poor people, although statistically excellent savers, do not have the large sum of money required to open a savings account. Yet, people living in poverty, like everyone else, need access to a diverse range of financial services to help run a small business, manage risks, and plan for a more stable future.

    Case Studies
    Anju Das
  • Name: Ms. Anju Das.
  • W/O: Sri Madan Das.
  • Vill: Kulhati.
  • Dist: Kamrup (R)
  • State: Assam

  • Ms. Anju Das and her family belong to a small village of Kulhati under Kamrup (R) District of Assam. She was very poor, having one son and one daughter studying in class VI and BA 1st Semester respectively.

    She is hard worker and sincere. She and her husband works on daily wage and are dependent on each other for survival. They both try to support their family and provide better education for their children. However, their children are very lazy and irresponsible.     Read More

    Abita Boro
  • Name: Ms. Abita Boro.
  • W/O: Sri Jayanta Boro.
  • Garo Basti.
  • Dist: Kamrup (M).
  • State: Assam

  • Here comes the story of a lady named Abita Boro residing in a place called Garo Basti, which is about 3 KM from Khanapara, Guwahati. Her husband Mr. Jayanta Boro is a tempo driver, who in spite of his hard life, grew up his two daughters with care and protection. As Jayanta Boro was the sole earner in the family, often when his tempo broke down, it became too hard for him to cope up with his daily requirements and as a result they were facing lots of financial crisis. During this period of hardship, Ms Abita was constantly thinking to support her husband’s earning.       Read More

    Umeswari Barman
  • Name: Ms. Umeswari Barman
  • Choudhuripara.
  • Dist: Kamrup (M).
  • State: Assam

  • Umeswari Barman is an inhabitant of Choudhuripara village, under Bongaon Development block of Kamrup district, Assam. She stays in a small cottage with her husband, son, and her sister-in-law. She has been associated with Grameen Sahara (presently GDFPL) since very beginning, and got training on tailoring cum embroidery in the year 2007.     Read More