In the heart of India, from the lanes of Darbhanga, Bihar, to the misty hills of Coonoor, Tamil Nadu, women are rewriting their destinies. Behind this transformation lies IIFL Samasta Finance Ltd., a beacon of hope for those on the margins of the formal economy. Through microfinance, financial literacy, and entrepreneurial support, the organisation empowers women to lift their families and communities toward a better future.
Sangeeta Devi from Darbhanga struggled daily to manage her family’s needs, relying on a small dairy business and vegetable sales. However, the lack of sanitation and access to clean water severely affected their quality of life. With IIFL Samasta’s Water and Sanitation loan, Sangeeta’s family installed proper hygiene facilities.
With manageable EMIs, this loan allowed her to prioritise her family’s well-being without compromising their business. Sangeeta’s story illustrates how financial inclusion fosters dignity and health, creating a foundation for future growth.
Vishalakshi’s journey showcases resilience in the face of adversity. After losing her job at a sweet shop post-maternity leave, she turned a personal crisis into an opportunity. Using a microfinance loan from IIFL Samasta, she launched Sri Sai Sweets from her home. Juggling childcare with entrepreneurship, Vishalakshi now thrives with the support of her family, transforming one room in her house into a bustling, sweet-making business. Her journey symbolises the potential that emerges when financial opportunities meet determination.
IIFL Samasta’s commitment to financial inclusion extends beyond disbursing loans. Since 2008, the organisation has grown to serve over 3 million customers across 22 states, with 75% of its portfolio still rooted in microfinance. Their innovative approach leverages “social collateral” by forming borrowing groups among women, ensuring mutual support and timely repayments even without physical collateral.
But it doesn’t end there. Through programs like financial literacy training and entrepreneurship workshops, IIFL Samasta empowers women to manage their finances effectively, engage with formal banking systems, and explore income-generating activities. The goal is to bridge aspirations with achievements, promoting sustainable growth at every step.
A significant barrier for many rural women is the need for more basic financial knowledge. Nearly 73% of India’s population lacks financial literacy, leaving them vulnerable to exploitation. IIFL Samasta’s financial literacy initiative addresses this gap head-on by offering hands-on training in remote villages. Over 72,000 women have already benefited from these programs, gaining budgeting, savings, and digital banking skills. Village-level kiosks and follow-up visits further reinforce their learning, ensuring long-term impact.
The journey hasn’t been without challenges. Cultural norms, linguistic diversity, and social barriers initially hindered participation. But IIFL Samasta adapted its approach, collaborating with Anganwadi workers and community leaders to build trust. From mushroom cultivation to tailoring, vocational training programs help women diversify their income sources, supporting economic resilience in areas where agriculture often dominates livelihoods.
The numbers speak for themselves. With a loan portfolio surpassing ₹14,000 crore, IIFL Samasta has grown 309% over the last two years. Their customer-centric approach ensures borrowers are not burdened with more than three loans at a time, maintaining financial discipline and sustainability.
Moreover, their CSR initiatives extend beyond finance—they provide scholarships for underprivileged girls, install solar-powered classrooms, and deliver disaster relief aid to communities in need. Their mission is not just to lend money but to foster lasting socio-economic change.
IIFL Samasta’s plans are ambitious. Over the next three years, they aim to empower 400,000 women through financial literacy and microfinance. Mobile financial literacy vans and enhanced digital platforms will further extend their reach, ensuring no woman is left behind, regardless of where she lives.
Sangeeta and Vishalakshi are just two of the countless women whose lives have been transformed by IIFL Samasta’s initiatives. Their stories highlight how financial inclusion can unlock boundless potential when paired with education and support. As IIFL Samasta continues to grow, it promises a future where every individual—no matter how humble their beginnings—can thrive.
In the words of IIFL Samasta: Empowering individuals, enriching communities. And with each new loan, every business started, and every life uplifted, they move one step closer to building a brighter future for all.
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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.
