Ujjivan - Providing Financial Services to the Poor

Ujjivan forays into Haryana

Ujjivan entered Haryana, opening 5 branches at Rohtak, Jind, Hissar, Bhiwani and Bahadurgarh. This is the 19th state in India with Ujjivan presence.

Haryana, meaning Green State, has fertile arable land making agriculture the leading occupation among its residents. The state was one of the major drivers of the Green Revolution in India in the 1970s, helping the country become self sufficient in food production. It is one of the largest recipients of investment per capita in India and has several well established textile and steel industries. The state is home to India’s largest automobile manufacturer (Maruti) and the world’s largest two-wheeler manufacturer (Hero Honda).

Today, the state’s economy is driven by manufacturing, agriculture, BPO and retail. However, the beneficiaries of the economic growth are limited to just a few. The unlucky majority very often end up paying a heavy price for financial services. These informal sources of lending have led them to a vicious cycle of poverty, which sometimes pass on to generations. According to estimates, the average interest rate charged by moneylenders in Haryana is 5 to 10% per month.

Haryana has a distorted gender divide with women being outnumbered by men by nearly 15%. Ujjivan hopes to empower women financially by providing income-developing opportunities and more importantly help them become decision makers in their communities.

Ujjivan has plans to expand its operations to several towns/cities in Haryana.

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