Bangalore, July 18 (ANI-Businesswire India): Grameen Koota has steadily risen over the years, since its inception in 1999 in terms of portfolio, client outreach and balance sheet strength, without compromising on portfolio quality and has always been upholding the key principles of transparency, governance and client-centricity in its business.
This has been possible mainly on account of the invaluable support that Grameen Koota has received from the banks and regulators, apart from the vision and mission of the promoters and key investors.
Grameen Koota now has a strong equity partner (CreditAccess Asia) who has a similar vision of promoters to provide microfinance services to poor and low income households in India and other Asian countries.
Grameen Koota has over the years moved towards becoming a professional organisation led by a professional board and management.
Grameen Koota Financial Services P. Ltd. is an NBFC MFI operating in the five states of Karnataka, Maharashtra, Tamil Nadu, Madhya Pradesh and Chhattisgarh, reaching to nearly a million women from poor or low income households. It has a portfolio outstanding of over 1600 crores. It provides multiple products specially designed to suit the life cycle needs of its women clients.
Grameen Koota was founded in 1999 by Vinatha M. Reddy, the Managing Trustee of T. Muniswamappa Trust with seed capital funding from Dr. Muhammad Yunus’s Grameen Trust, Bangladesh.
Suresh Krishna had been on the helm of affairs at Grameen Koota as its Managing Director since inception and had been instrumental in building the organisation from an action pilot project at Avalahalli, Bangalore, to being recognised both nationally and internationally as a professional organisation which is responsible, socially focused, client centric and commercially sustainable microfinance company.
Grameen Koota has received many awards including being ranked 19th best MFI in the world by Forbes in 2007.
As Suresh Krishna moves on to take international responsibility with CreditAccess Asia to expanding microfinance activities into other Asian Countries, the board of directors of Grameen Koota has promoted Udaya Kumar as the new Managing Director. Udaya Kumar has a rich experience in banking and has worked with Corporation Bank, ICICI Bank and Barclays Bank before joining Grameen Koota as CEO in 2010. (ANI-Businesswire India)