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Arman inks partnerships with Samridhi Arman Financial Services, an Ahmedabad based NBFC listed on BSE, has entered into an agreement with Samridhi Financial Services for providing microfinance services in Ahmedabad. Samridhi team would bring along with them the required expertise in the field of operations, accounting and information technology for the purpose of starting and expanding the business of microfinance for Arman which has strong presence in the field of personal finance and vehicle finance. The relationship is expected to bring about

a mutually complimentary arrangement wherein both the parties involved would of-

of field staff (Microfinance) trained by Team Samridhi in their Barabanki branch.

fer services in the sphere of their expertise. Arman’s first batch

Samridhi Automates its HR Systems Besides having robust MIS Software that keeps track of all the field activities, the IT Team of Samridhi has also come out with an in house HRMS Software. This software will enable Samridhi with all their HR Systems such as Pay Roll, Attendance, Performance Management System, Recruitment, Employee Database Management, etc. Samridhi is one of the only MFIs that has an HRMS software.

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Samridhi bags ITC Assignments The company took up 2 consulting assignments from ITC for their CSR division. The assignments were related to study the impact analysis of some of the CSR activities in UP. One of the studies was to study the impact made by artificial insemination activities of BAIF in the district of Badaun. The second study was about the waste management activities of a NGO based out of Saharanpur that is being funded by ITC.

ITC Assignment 1 ITC has been working in

coverage and ensure the

entrepreneur CDC cen-

Livestock Development

sustainability of these

tres and two centres of

since 2003-04 and pres-

CDCs, ITC and BAIF

BAIF that are entirely

ently is promoting 104

have tried out an entre-

funded by the local

Cattle Development Cen-

preneurship CDC model,

DRDA. To ensure compa-

tres (CDCs) through its

which has succeeded in

rability, all the four CDCs

partnership with BAIF in

UP.

chosen were in Badaun

5 states.

Samridhi did a compara-

With a view to increase

district.

tive study of two such

ITC Assignment 2 ITC is engaged in a number of social development initiatives including watershed programmes, livestock development, social forestry, women's empowerment, supplementary education and others.

perience

Different initiatives in waste management are being tried out across India. The genesis has been our successful ex-

lecting waste and the gov-

FOOT

in Solid Waste Management (since 2007-08) in Saharanpur in partnership with Muskan Jyoti Samiti. In Saharanpur, ITC have been closely working with the residents, people colernment while trying to ensure that the waste management system be-

comes self sustainable. In this assignment ITC was interested in understanding the impact created by its system in comparison with that of the government run system and draw lessons from the comparative analysis.

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Samridhi sets its eyes on the next Fiscal Keeping in mind its expansion

nance map of India. Samridhi

For the purpose of equipping its

plans Samridhi has started

has entered into discussions

staff with the requisite technical

discussions with the financial

with NABARD, SIDBI,

expertise Samridhi has also opted

institutions which have spe-

FWWB, Trust Microfin Net-

for getting inducted in the ABN

cific focus on Microfinance

work, HDFC and Manaveeya

Amro Foundation- MICROSAVE

sector and believe in incubat-

Holdings. TMN team is ex-

program. MICROSAVE team also

ing the startups in this field to

pected to visit Samridhi field

conducted RIA with Samridhi

make sure that there are no

also to take Samridhi’s case

Team in the month of December.

white patches on the microfi-

forward.

Promoters place their faith in Samridhi

“Always do right. This will gratify

In the recently held meeting of the promoters, the promoters of Samridhi have decided to raise

some people and

more equity. This shows the faith that they have placed in Samridhi and its team in these troubled

astonish the

times. This should enable Samridhi to reach its target of 1000 clients by 31st March, 2009.

rest.” Mark Twain

Samridhi’s Outreach: Challenging the limits continuously In its third month of expanding opera-

it even more significant that this is high as most of the clients are

tions Samridhi team has been able to

first time borrowers from any Microfinance organization.

touch 155 more lives in its microfinance operations. These people are spread over 12 new villages which Samridhi has entered. The rate of member induction on per staff basis is higher for the Samridhi team than its peers present in the same geography for quite some time. Also total of more than 11 lacs were disbursed as loan to total of 116 clients in this month. The average loan disbursement for Samridhi clients has been Rs. 9379 which is high compared to its peers. What makes

Higher loan size would enable clients to meet their need without being dependent on any other source as well as it would ensure greater profitability for Samridhi.

HR Systems Snapshots

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