Since 2006 we have gradually increased our scope of operations in India, reaching over 500,000 clients through more than 220 branches today.
Around 500 million people in India do not have access to formal financial services of which the vast majority belongs to lower income groups.

Operations in India

CreditAccess has been active in India since its launch in 2006. We selected India as one of our first target markets, due to the large unmet demand for financial services and high potential for economic growth. Only 35% of Indian citizens, over 15 years of age, have access to a formal financial institution. This implies that close to 500 million people do not have access to formal financial services, with the vast majority belonging to lower income groups.

The unbanked population in India is dependent on informal sources of credit such as family, friends and moneylenders. Increased availability of adequate services from professional credit channels provides individuals and businesses alike the chance to increase control over their financial affairs on a continual basis.  By providing transparent and demand-driven financial products to the unbanked Indian population, we aim to be a long-term, reliable financial partner adding value to our clients and to society as a whole.

Over the years we have gained extensive experience through investments in existing Indian financial institutions, active themselves for over 15 years. We have gradually increased our scope of operations, reaching over 1,350,000 clients through more than 300 local branches.

Today, CreditAccess primarily operates in India through the retail brand Grameen Koota. This locally registered entity is governed by the Reserve Bank of India.  It was established in 1999 responding  to the need for timely and affordable credit for  India’s poor and low-income households. Through this entity, our Group provides the following products to those who cannot access other reliable financial services: microcredit, education loans and healthcare loans, plus loans for house construction and home improvement. The credit process is based on the Grameen Group Lending Model, which has been somewhat modified, to fit the Indian context. In addition, the company provides life & health insurance products.

CreditAccess also provides non-financial services, including, business development training, financial literacy promotion and basic health/nutrition education.  We believe that these trainings enable clients to optimally benefit from the financial products supplied. Both financial and non-financial products are regularly evaluated and, if needed, revised to respond to changing customer needs.