Touching Lives - Bharat Financial · PDF file 2019-04-22 · Annual Report 2017-18...

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Transcript of Touching Lives - Bharat Financial · PDF file 2019-04-22 · Annual Report 2017-18...

  • Annual Report 2017-18

    Bharat Financial Inclusion Limited (Formerly known as ‘SKS Microfinance Limited’)

    Touching Lives

    72.7 Lakh Women Members in Over 1 Lakh Villages

    Kirana Point Local ATM for a Range

    of Banking Services

    2.8 Lakh CSR Beneficiaries in

    12 Indian States

  • Contents

    Corporate Information

    ABOUT US

    TOUCHING LIVES 01

    OUR BOARD OF DIRECTORS 02

    OUR CORE EXECUTIVE TEAM 03

    WE ARE BHARAT FINANCIAL INCLUSION LIMITED 04

    OUR GROWTH MOMENTUM 06

    HOW ARE WE BUILDING SCALE ACROSS INDIA 10

    PERFORMING WITH PASSION 12

    IMPACTING MORE LIVES 14

    FAST-TRACKING THE KIRANA POINT PILOT 16

    2.8 LAKH CSR BENEFICIARIES IN 12 INDIAN STATES 18

    PROPOSED MERGER WITH INDUSIND BANK 20

    AUDITORS B S R & Associates LLP Salarpuria Knowledge City, Orwell, 6th Floor, Unit – 3, Sy. No. 83/1, Plot No. 2, Raidurg, Hyderabad – 500 081, India.

    REGISTRAR & SHARE TRANSFER AGENT Karvy Computershare Pvt. Ltd. Selenium Tower B, Plot 31-32, Gachibowli Financial District, Nanakramguda, Hyderabad – 500 032. Email: [email protected] Phone No: 040-67162222 Fax No: 040-23001153

    MANAGEMENT DISCUSSION AND ANALYSIS 22

    DIRECTORS’ REPORT 51

    REPORT ON CORPORATE GOVERNANCE 90

    FINANCIAL STATEMENTS

    INDEPENDENT AUDITOR’S REPORT 112

    BALANCE SHEET 120

    STATEMENT OF PROFIT AND LOSS 121

    CASH FLOW STATEMENT 122

    NOTES TO FINANCIAL STATEMENTS 124

    REGISTERED OFFICE Unit No. 410, ‘Madhava’, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051. Phone No.: 022-26592375 Fax No.: 022-26592375

    HEAD OFFICE 3rd Floor, My Home Tycoon, Block A, 6-3-1192, Kundanbagh, Begumpet, Hyderabad – 500 016. Phone No.: 040-44526000 Fax No.: 040-44526001 Email: [email protected] Website: www.bfil.co.in

  • Contents

    Corporate Information

    ABOUT US

    TOUCHING LIVES 01

    OUR BOARD OF DIRECTORS 02

    OUR CORE EXECUTIVE TEAM 03

    WE ARE BHARAT FINANCIAL INCLUSION LIMITED 04

    OUR GROWTH MOMENTUM 06

    HOW ARE WE BUILDING SCALE ACROSS INDIA 10

    PERFORMING WITH PASSION 12

    IMPACTING MORE LIVES 14

    FAST-TRACKING THE KIRANA POINT PILOT 16

    2.8 LAKH CSR BENEFICIARIES IN 12 INDIAN STATES 18

    PROPOSED MERGER WITH INDUSIND BANK 20

    AUDITORS B S R & Associates LLP Salarpuria Knowledge City, Orwell, 6th Floor, Unit – 3, Sy. No. 83/1, Plot No. 2, Raidurg, Hyderabad – 500 081, India.

    REGISTRAR & SHARE TRANSFER AGENT Karvy Computershare Pvt. Ltd. Selenium Tower B, Plot 31-32, Gachibowli Financial District, Nanakramguda, Hyderabad – 500 032. Email: [email protected] Phone No: 040-67162222 Fax No: 040-23001153

    MANAGEMENT DISCUSSION AND ANALYSIS 22

    DIRECTORS’ REPORT 51

    REPORT ON CORPORATE GOVERNANCE 90

    FINANCIAL STATEMENTS

    INDEPENDENT AUDITOR’S REPORT 112

    BALANCE SHEET 120

    STATEMENT OF PROFIT AND LOSS 121

    CASH FLOW STATEMENT 122

    NOTES TO FINANCIAL STATEMENTS 124

    REGISTERED OFFICE Unit No. 410, ‘Madhava’, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051. Phone No.: 022-26592375 Fax No.: 022-26592375

    HEAD OFFICE 3rd Floor, My Home Tycoon, Block A, 6-3-1192, Kundanbagh, Begumpet, Hyderabad – 500 016. Phone No.: 040-44526000 Fax No.: 040-44526001 Email: [email protected] Website: www.bfil.co.in

    Contents

    Corporate Information

    ABOUT US

    TOUCHING LIVES 01

    OUR BOARD OF DIRECTORS 02

    OUR CORE EXECUTIVE TEAM 03

    WE ARE BHARAT FINANCIAL INCLUSION LIMITED 04

    OUR GROWTH MOMENTUM 06

    HOW ARE WE BUILDING SCALE ACROSS INDIA 10

    PERFORMING WITH PASSION 12

    IMPACTING MORE LIVES 14

    FAST-TRACKING THE KIRANA POINT PILOT 16

    2.8 LAKH CSR BENEFICIARIES IN 12 INDIAN STATES 18

    PROPOSED MERGER WITH INDUSIND BANK 20

    AUDITORS B S R & Associates LLP Salarpuria Knowledge City, Orwell, 6th Floor, Unit – 3, Sy. No. 83/1, Plot No. 2, Raidurg, Hyderabad – 500 081, India.

    REGISTRAR & SHARE TRANSFER AGENT Karvy Computershare Pvt. Ltd. Selenium Tower B, Plot 31-32, Gachibowli Financial District, Nanakramguda, Hyderabad – 500 032. Email: [email protected] Phone No: 040-67162222 Fax No: 040-23001153

    MANAGEMENT DISCUSSION AND ANALYSIS 22

    DIRECTORS’ REPORT 51

    REPORT ON CORPORATE GOVERNANCE 90

    FINANCIAL STATEMENTS

    INDEPENDENT AUDITOR’S REPORT 112

    BALANCE SHEET 120

    STATEMENT OF PROFIT AND LOSS 121

    CASH FLOW STATEMENT 122

    NOTES TO FINANCIAL STATEMENTS 124

    REGISTERED OFFICE Unit No. 410, ‘Madhava’, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051. Phone No.: 022-26592375 Fax No.: 022-26592375

    HEAD OFFICE 3rd Floor, My Home Tycoon, Block A, 6-3-1192, Kundanbagh, Begumpet, Hyderabad – 500 016. Phone No.: 040-44526000 Fax No.: 040-44526001 Email: [email protected] Website: www.bfil.co.in

  • Touching Lives At Bharat Financial Inclusion Limited (BFIL), we are touching the lives of low-income women borrowers from under-served households in significant ways. With a historical legacy of more than 15 years in providing financial services to the economically weaker sections, we have emerged as the largest community-based micro- finance institution with 72.7 lakh low-income women members, covering more than 100,000 villages. We are supporting those excluded from the formal financial marketplace in taking control of their own economic destiny.

    We are touching the lives of low-income women at the bottom of the socio-economic pyramid in different ways. Our tailor-made and affordable loans, priced at one of the lowest interest rates among NBFCs, provide them with financial sustainability and augmenting economic opportunities for them and in turn help them to improve their lives. Over the years, we have established a strong and wide-spread reach with presence in 342 districts, covering around half of India’s total districts (excluding Andhra Pradesh and Telangana).

    We touch their lives by facilitating them to conduct banking and financial transactions at the local Kirana shop. We also enable them to enjoy better customer service through our cashless and paperless loan disbursals. Another significant way in which we touch the lives of people is through our CSR projects, thus making a meaningful contribution to the society.

    At BFIL, we are significantly impacting India’s financial fabric by enabling customers meaningfully invest the loans accessed and create stable and sustainable livelihoods for themselves. Based on our sensitive, deep understanding of our customer base, we are working towards our larger vision of touching people’s lives, nurturing them and enabling them to achieve a better quality of life. We provide them with income-generation loans, paving way for them to evolve and climb up the economic ladder.

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  • About Us

    2

    BHARAT FINANCIAL INCLUSION LIMITED

    Our Board of Directors

    S. Balachandran Independent Director

    Geoffrey Tanner Woolley Independent Director

    K. G. Alai Nominee Director - SIDBI

    M. R. Rao Managing Director & CEO

    Ashish Lakhanpal Non-Executive Director

    P. H. Ravikumar Non-Executive Chairman & Independent Director

    Dr. Punita Kumar-Sinha Independent Director

    R. M. Malla Independent Director

    Dr. Tarun Khanna Independent Director

  • 3

    Annual Report 2017-18

    Our Core Executive Team

    Kanchan Pandhre Chief, Internal Audit

    Pratap R Chief Risk Officer & Deputy Chief Financial Officer

    Rajendra Patil Senior Executive Vice President, Legal & Company Secretary

    Ritesh Chatterjee Chief, Organizational Excellence & Service Quality

    Shalabh Saxena Chief Distribution Officer

    Srinivas Peddada Chief Information Officer

    Srinivas Reddy Vudumula Chief People Officer

    Vikas Muttoo Chief Business Officer

    Ashish Pipaliya Senior Executive Vice President, Investor Relations & New Initiatives

    J. S. Sai Chief Marketing & Communications Officer

    Ashish Damani Chief Financial Officer

  • About Us

    4

    BHARAT FINANCIAL INCLUSION LIMITED

    We are Bharat Financial Inclusion Limited

    We are the largest microfinance company in India with a gross loan portfolio of Rs 12,594.4 crore, 72.7 lakh members (excluding Andhra Pradesh and Telangana) & 1,567 branches. We are the most efficient micro finance institution (MFI) and one of the low-cost lenders amongst NBFC-MFIs, with interest rate at sub 20%.

    We have established ourselves in the industry with best-in-class return ratios and superior asset quality. We remain focused on providing innovative solutions to our customers while leveraging our disciplined risk management culture and increasing operational efficiencies.

    Our Mission Our mission is to provide financial services to the economically weaker sections.

    Our Vision Our vision is to serve 50 million households across India and other parts of the world and also create a commercial microfinance model that delivers high value to our customers.

    Key Highlights of the Year

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