Vikram Akula’s SKS Microfinance Pvt. Ltd.: The Making of a Successful Microfinance Institution



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Code : SEP0014

Year :
2006

Industry : Banking, Insurance and Financial Services

Region : India

Teaching Note: Not Available

Structured Assignment : Not Available

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Abstract: Vikram Akula set up SKS Microfinance Pvt. Ltd. (SKS) in 1998 to provide microfinance to the poorest sections of the Indian society that earns a per capita less than INR 6,000 ($120) per year. Negating the traditional assumption that microcredit is not a viable business in developing countries, SKS has brought in a new microfinancing model in India, which is profitable and self-sustaining. By reducing costs through prevention of wastage at each step of the loan process coupled with innovative technologies and an efficient management system, Akula has transformed SKS into one of the fastest growing microfinance institutions in the world. By attracting capital from global financial institutions like Citibank and through its automated MIS system and its award winning SmartCards Pilot Project, SKS aims to grow at 400% per annum in the future.

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Pedagogical Objectives:

  • To understand the concept of microfinancing and its need in a developing economy like India
  • To analyse the role of innovative technologies in the growth of social ventures
  • To debate on the self-sustainability and future growth prospects of SKS in India

    Keywords :Entrepreneurship Case Study, Vikram Akula, Micro Financing, Technology in Micro Financing, Social Entrepreneurship, SmartCard Project, Microfinance in India, Microfinance Methodology, IT systems in Microfinance, Microfinance MIS, Social Entrepreneurship, Grameen Model, Microfinance Models, Micro Finance Institutions, Non-Government Organisations

    Contents :
    » Microfinance and its Relevance to India
    » Vikram Akula: The Driving Force Behind SKS


    Case Introduction >>


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