Certification Certified Organizations Certified Profiles: Grameen Koota

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GK Client 4About Grameen Koota

Certified in January 2013, Grameen Financial Services Pvt. Ltd. (GFSPL) serves over 673,000 customers in 222 branches with over 2,160 operating staff members. In 2007, the microfinance activities of Grameen Koota was transferred from NGO to a well-regulated and registered Non-Banking Financial Company under the name of Grameen Financial Services Pvt. Ltd. Grameen Koota (GK) continued to be the operating brand name of Grameen Financial Service P. Ltd.

The work of then “Grameen Koota” was born out of the need for timely and affordable credit to India’s poor and low-income households. Grameen Koota helped develop a class of mature and financially literate women entrepreneurs that benefitted from the group lending model to grow out of poverty. Currently Grameen Koota offers a multitude of both financial and non-financial products and services to cater to every life cycle need of its clients. Over the years their product range has grown from just credit services to Micro insurance as well as Pension services, which has helped them evolve into a major player in the Micro Finance Sector and widely recognized as one of India’s leading Micro Finance Institutions.

Grameen Koota envisions enabling economic and social change in over two million poor and low income households with their products and services. Its values are encapsulated in CREATE:Committed, Reliable, Empathetic, Accountable, Transparent, and Efficient.

 


 

 


 

Grameen Koota Fast Facts English

 


 

Grameen Koota Quote 2Grameen Koota’s Certification Journey


Grameen Koota endorsed the Smart Campaign to show its commitment to the Client Protection Principles of microfinance. After becoming more acquainted with what it means to be client-centric in practice by familiarizing itself with the Smart Campaign, Grameen Koota underwent a Smart Assessment in 2012 to be institutionally evaluated against the standards and indicators of the Principles for a diagnosis of the client-centricity of its practices. From the gaps in client protection that were identified in its Smart Assessment, Grameen Koota was able to use Smart Campaign tools and resources to improve its practices to prepare for itself for a certification mission. Grameen Koota was evaluated by M-CRIL and was seen to fully meet all of the standards and indicators for every Client Protection Principle, thereby allowing it to be Smart certified in client protection.

Here is a tool that Grameen Koota has shared with the Smart Campaign on its ethical standards for its employees to ensure strong adherence to Principle 5, “Fair and Respectful Treatment of Clients.”

Code of Conduct E-Learning Module (Grameen Financial Services Pvt. Ltd.) »

  


Grameen Koota’s Case Study – Tracking Clients’ Progress out of Poverty


Grameen Koota ToolGrameen Koota’s mission is twofold: to transform and uplift the lives of poor and low-income families with microfinance and other developmental services, and to be a sustainable and trusted provider of affordable, need-based services. Grameen Koota’s commitment to proactive data collection and management, as well as its investment in technology, has enabled the MFI to discover important trends in its clients’ movement across poverty lines during their time with the institution.

A long-term partnership with Grameen Foundation led to Grameen Koota’s early adoption of two key tools that have contributed to the MFI’s current capacity to collect and analyze client data on poverty levels. First, in 2007, Grameen Koota started using Mifos, a dynamic open-source management information system (MIS) developed by Grameen Foundation to help MFIs centralize data management functions. The Mifos platform has several advantages – including flexibility, scalability and centralization – all of which support Grameen Koota’s innovative data management and analysis activities.

In December 2008, Grameen Koota became the first MFI in India to collect¬ the poverty status data of its clients using Grameen Foundation’s Progress out of Poverty Index® (PPI®), and it is now the first fully certified user of the PPI in the country. Grameen Koota collects PPI data from its clients at client intake, each time the client renews an income generating loan, and at drop-out, if the client leaves the MFI.  Given its commitment to data collection, Grameen Koota has collected PPI data for more than 300,000 clients in the last two years. More than 48,000 of these clients now have data from at least two PPIs, which enables the institution to begin to track its clients’ movement out of poverty. These advantages were fundamental to enabling Grameen Koota to compile its poverty data in a way that helps reveal its clients’ movement up the economic ladder.

Click here to learn about the Case Study (English) »

 


For more information about Grameen Koota please visit their website: www.gfspl.in

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