Gujarat, renowned for its entrepreneurial spirit and rapid industrialization, is also pioneering efforts in the field of Impact finance. These top 11 impact finance institutions are not only advancing financial inclusion but are strategically aligned with the United Nations Sustainable Development Goals (SDGs), addressing economic, social, and environmental challenges.
1. Ceejay Microfin Ltd
Head of Organisation: Mr. Devang Shah
Ceejay Microfin Ltd is dedicated to combating poverty through the provision of microloans to underserved entrepreneurs. By enabling these individuals to start or expand their businesses, Ceejay Microfin significantly contributes to economic empowerment and social upliftment in rural and urban areas of Gujarat. This initiative supports SDG 1 (No Poverty), striving to eradicate poverty in all its forms and dimensions, including extreme poverty, which is the greatest global challenge and an indispensable requirement for sustainable development.
2. Light Microfinance Pvt Ltd
Head of Organisation: Mr. Rakesh Kumar
Light Microfinance Pvt Ltd focuses on empowering women in rural areas by providing them access to necessary financial services that enable them to become economically independent and active participants in their communities. This institution supports SDG 5 (Gender Equality), promoting women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in political, economic, and public life. Additionally, it aligns with SDG 10 (Reduced Inequalities), ensuring reduced inequalities within and among countries by empowering and promoting the social, economic, and political inclusion of all.
3. Namra Finance Ltd
Head of Organisation: Mr. Aalok Patel
Namra Finance Ltd provides crucial support to small and medium-sized enterprises (SMEs), offering financial products that facilitate sustainable economic growth and employment. This institution plays a pivotal role in supporting SDG 8 (Decent Work and Economic Growth), promoting sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. Through its services, Namra Finance boosts local economies, increases productivity, and reduces the unemployment rate within the region.
4. Pahal Financial Services Pvt Ltd
Head of Organisation: Mr. Kartik Mehta
Pahal Financial Services Pvt Ltd is instrumental in the development of affordable housing and urban projects, offering innovative financial solutions that promote sustainable cities and communities as outlined in SDG 11. This goal aims to make cities and human settlements inclusive, safe, resilient, and sustainable. By financing affordable housing, Pahal is directly contributing to enhancing inclusive urbanization and capacity for participatory, integrated, and sustainable human settlement planning and management in Gujarat.
5. Prayas Financial Services Pvt Ltd
Head of Organisation: Mr. Bhadresh Rawal
Prayas Financial Services Pvt Ltd is committed to environmental sustainability by offering green loans that support renewable energy projects and promote energy efficiency. This institution aligns with SDG 13 (Climate Action), which calls for urgent action to combat climate change and its impacts. By financing renewable energy solutions, Prayas not only facilitates a reduction in carbon footprint but also promotes the adoption of clean energy technologies among households and businesses, contributing to the broader climate action goals.
6. Saath Mahila Saving and Credit Cooperative Society Ltd
Head of Organisation: Mr. Shyam Prakash Singh
Focusing on women's empowerment and financial literacy, Saath Mahila Saving and Credit Cooperative Society Ltd enhances financial inclusivity by educating women on saving and providing access to credit. This initiative is pivotal in promoting SDG 5 (Gender Equality), as it empowers women by providing them the tools for financial independence and decision-making within their households and communities. Through its efforts, the cooperative also supports gender equality and women’s empowerment, which are fundamental to all dimensions of inclusive and sustainable development.
7. Shree Mahila Sewa Sahakari Bank Ltd (Sewa Bank)
Head of Organisation: Ms. Jayshree Vyas
Shree Mahila Sewa Sahakari Bank Ltd, known as Sewa Bank, provides microcredit and other financial services tailored to the needs of poor and self-employed women workers. By focusing on empowering economically disadvantaged women, Sewa Bank supports SDG 1 (No Poverty) and SDG 10 (Reduced Inequalities). It not only provides women with the financial means to start small businesses and become economically self-reliant but also ensures social inclusion by integrating them into the formal economic framework, thereby reducing inequality.
8. Shroff Capital And Finance Pvt Ltd
Head of Organisation: Mr. Hemal Shroff
Shroff Capital and Finance Pvt Ltd focuses on financing small industries and infrastructure projects, crucial for sustainable development and technological advancement. This institution supports SDG 9 (Industry, Innovation, and Infrastructure) by enabling industrial diversification and value addition to commodities, significantly contributing to building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation.
9. Swayam Micro Services
Head of Organisation: Mr. N.R ParmarSwayam
Micro Services provides financial services tailored to the agricultural sector, supporting farmers in improving crop yields and achieving food security through sustainable farming practices. By aligning with SDG 2 (Zero Hunger), Swayam ensures access to safe, nutritious, and sufficient food all year round. This service is crucial in promoting sustainable agricultural practices that help maintain ecosystems, strengthen capacity for adaptation to climate change, extreme weather, drought, flooding, and other disasters.
10. The Saath Saving And Credit Coop Society Ltd
Head of Organisation: Mr. Divyang Bhatnagar
This cooperative focuses on promoting sustainable consumption practices and providing equitable financial services, directly supporting SDG 10 (Reduced Inequalities) and SDG 12 (Responsible Consumption and Production). The Saath Saving and Credit Coop Society Ltd encourages its members to adopt sustainable practices that help reduce their environmental impact while fostering economic growth and social development through inclusive financial services.
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