Ujjivan is completing the first year of profitable operations & has wiped out the accumulated losses of the first five years. Today, we serve over 600,000 customers spread over 13 States through 230 branches. We are following through our reduction of interest on Business & Combo Loans made last year by a further reduction for loans disbursed after April 1, 2010:

For customers in their 3rd cycle onwards, Business & Combo Loans will be reduced by half a percent per annum to 24% p.a. on the declining balance method.

We share the belief of our customers that education is the key to the door to life out of poverty. In order to support their valiant endeavour to provide their children with quality education, we have entered into a joint program with Parinaam Foundation to refund the interest on the 6400 education loans we have given last year, making the loans interest free.

In addition, Parinaam Foundation has introduced a scholarship for needy & deserving children of Ujjivan customers who are struggling to meet the expenses of their college education, literally the last mile in our customers’ quest to make their children’s lives poverty free.