Taraashna Services Private Limited (TSPL) is a company incorporated under the provisions of the Companies Act, 1956. TSPL is an intermediary for promoting financial inclusion in the country. TSPL facilitates access to finance by providing credit, micro- insurance and saving facilities to the unbanked clients in India. TSPL started its journey in June 2012 and has rapidly emerged as one of the trus
ted partners for banks in the access to finance domain. TSPL is currently operating in five states of India, as a Business Correspondent (BC) partner/service provider for two reputed commercial banks and one NBFC. TSPL follows a customer centric approach and is a firm believer in enrichment of human capital through continued training. Technology is the key enabler in TSPL's business model and innovation is a habit for TSPL. TSPL operates as a business correspondent partner of major banks in India. TSPL adopts varied business models for service delivery according to the end- clients' requirements and specific business needs of the partner banks. TSPL has successfully adopted both Self-help group(SHG) model and a Joint liability group(JLG) model while working with its partner banks. TSPL assesses the credit requirement of the SHG/JLG members and evaluates their credit history, their historical and current cash flows, and the sustainability of their ongoing economic activities. SHG Model:
A self help group(SHG) is a small homogeneous group of micro-entrepreneurs who form the group for a common cause and interest (usually for mobilizing thrift and credit).The group members aspire to progress out of poverty through joint action. Taraashna facilitates the process of SHG formation, trains the members, and assists in maintaining the group dynamics. The Credit and livelihood officers of Taraashna help SHGs to manage internal and external financial transactions and provides techno-managerial support. Upon successful completion of financial literacy training and assurance of group discipline, TSPL's Community Livelihood Officer links the SHG to the bank for the purpose of opening bank accounts and availing credit facility.Since all the loans are unsecured loans by nature, Taraashna banks on the social collateral of the members for ensuring on-time repayment of loans and for inculcating a regular savings discipline. JLG Model:
TSPL facilitates the formation of Joint Liability Groups(JLGs) so that the group members may avail bank credit. The JLG members come together and offer a mutual guarantee to the bank to avail bank loans. In order to be eligible for bank credit through TSPL, the JLG members must be engaged in some income-generating activity. VISION: TSPL has a vision to be a preferred financial intermediary and financial services solutions provider for a large number of financially excluded families and a partner of choice for most mainstream banking institutions.
