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 24 branches across 4 states of North East India viz. Assam, Meghalaya, Nagaland & Mizoram.

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 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.