Ujjivan - Providing Financial Services to the Poor

Happy Diwali for Vadodara slum dwellers
Ujjivan launches 5-branch operations in city

With the belief to positively impact lives of people in Vadodara, Ujjivan began operations in the “Sanskari City” of Gujarat on Diwali eve, 3rd November 2010.

This is the second city in Gujarat where Ujjivan now has a presence, Surat being the first. The East Vadodara branch was inaugurated by Chief Guest Mr. Jolly Zachariah, COO (West), accompanied by Mr. Diptarag Deb, Distribution Manager (Gujarat), in the presence of customers, branch staff and representatives from Press.

Handing out loans to groups of women, Mr. Zachariah said, “Ujjivan has succeeded in mobilizing credit for people who have been marginalized by modern banking. People at the grassroots, especially slums, are being empowered to create wealth for themselves and their families. Our services will provide a boost to them and their businesses, helping the community to come out of poverty and prosper.”

Ujjivan has started a 5-branch operation in Vadodara. “Gujarat is an economic giant and has been driving positive change in the country. We want to reach out to all those low-income families who have no easy access to financial credit. Our services will help improve the quality of life of the urban poor in Vadodara and provide them the opportunities to be part of Gujarat’s commercial success”, says Diptarag Deb, Distribution Manager Gujarat.

Shabana Banu, a cloth merchant from Akota in Vadodara and an Ujjivan borrower says, “I have been able to purchase more dress material and sell more because I now have more variety to offer. This has helped me save more money daily too”.

Rabiya Bibi, from Lakshminagar in Ektanagar, one of the larger slum pockets in Vadodara city says “I used to rent my aluminum scrap cutting machine on a daily rental basis, after taking a business loan from Ujjivan I purchased my own second hand machine and my margins have grown drastically.”

“Small scale traders, hawkers, artisans and entrepreneurs have benefited from Ujjivan and several hitherto businesses of not-so-significant scale have been turned around, resulting in improved living standard for individuals, families and even whole communities”, added Mr.Zachariah.

Over 6500 urban poor women in Surat and Navsari have already taken loans from Ujjivan.

We now look forward to providing poor families in Vadodara with small loans to invest in their micro enterprises that empower them to create their own jobs, raise their incomes, build assets, and increase their families’ well-being.