Belstar Investment and Finance Private Ltd - Microfinance for women’s self-help groups
Belstar Investment and Finance Private Ltd
Microfinance for women’s self-help groups
Belstar Investment and Finance Private Ltd (BIFPL) is a microfinance institution (MFI) that operates in five states, Tamil Nadu, Pondicherry, Karnataka, Maharashtra and Madhya Pradesh, providing financial services to women with low incomes. BIFPL grew out of the Hand in Hand initiative, a charitable trust aiming to eradicate child labour and empower women. In order to expand, Hand in Hand bought BIFPL in 2008.
BIFPL has a strong focus on enterprise development and job creation in underdeveloped regions and vulnerable communities. It endorses and has implemented the Client Protection Principles. Furthermore, BIFPL has systems in place to evaluate the repayment capacity of its clients, effective disclosure mechanisms and well-established feedback and grievance redressing systems.
BIFPL provides microfinance to women in vulnerable conditions, and these women also participate in self-help groups. Additionally, while BIFPL does not operate as a savings institution, it encourages its members to save.
Belstar Investment and Finance Private Ltd has been an Oikocredit partner since 2012.