Annapurna Finance, founded in Odisha, has significantly impacted poverty alleviation through financial inclusion, reaching underserved populations across 21 states in India. Over the years, Annapurna has focused on providing collateral-free loans to low-income households, particularly women, who make up 99% of its microfinance borrowers. Through its group lending model, Annapurna has empowered women to start enterprises and gain financial independence.
Take the example of the women benefiting from Annapurna’s SWASTH loan, designed to improve access to water and sanitation. This product provides essential services and enhances the quality of life for borrowers by improving their health conditions and living standards. Annapurna’s broader portfolio includes loans for income generation, home improvements, and green initiatives like rooftop solar financing, making a substantial environmental and economic impact.
Annapurna’s clients have seen a 25% increase in per capita income and improved financial literacy. 85% of them actively participate in household decision-making, compared to 28% of non-clients. Additionally, the organisation has been instrumental in promoting cleaner fuel adoption and better water practices among its beneficiaries.
The impact is not just financial; it is transformational. Annapurna’s commitment to innovation—such as digital lending and paperless processing—ensures that the rural population is not left behind in the digital revolution. With products designed to create long-term sustainability and resilience, Annapurna Finance is helping build self-sustained, economically empowered rural and semi-urban communities.
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Inclusion is the first magazine dedicated to exploring issues at the intersection of development agendas and digital, financial and social inclusion. The magazine makes complex policy analyses accessible for a diverse audience of policymakers, administrators, civil society and academicians. Grassroots-focused, outcome-oriented analysis is the cornerstone of the work done at Inclusion.
