Ujjivan is 'Microfinance Organisation of the Year 2011'

Awarded in Large Institutions category, at Microfinance India Summit

Ujjivan Financial Services, a leading microfinance institution serving the urban poor, has received the prestigious ‘Microfinance Organisation of the year’ award in the large institutions category. 

The award was presented at a special function organised at the Microfinance India Summit in Delhi. 

Speaking on achieving this distinction, Samit Ghosh, Managing Director, Ujjivan said,”This award is the foremost recognition by the industry for the best all round performance by a microfinance institution in India. It is a matter of great pride to see that our commitment to our customers and to financial inclusion is being recognised”. 

The awards are an industry benchmark to recognise the contribution of notable thought leaders, promoters and institutions which helped to translate the vision of reaching the poorest in a sustainable manner into reality. It is based on evaluation of MFIs on a variety of parameters such as governance, portfolio quality, product innovation, credit plus services and social performance. 

“The credit of this citation goes to all of our employees, customers, investors and well wishers. I would like to thank all of them”, added Ghosh. 

Ujjivan is one of the first to set up committed Service Quality for customer grievance redressal and dedicated customer care representatives at branches. It has several product and process innovations such as an education loan and a unique education loan interest refund program and financial literacy program on debt management in collaboration with sister non-profit Parinaam Foundation. 

Evaluated by a panel of renowned industry experts, the distinguished Jury panel was chaired by Naina Lal Kidwai, Group General Manager and Country Head, HSBC, India and Brij Mohan, Chairman, ACCESS Development Services.