Who We Are
SAHULAT MICROFINANCE SOCIETY (Regd. under the Societies Registration Act, 1860) is a voluntary non-political, non-profit making social service organization established in 2010. Sahulat was formed for the sole purpose of promoting interest-free microfinance (IFMF) activities in India. It establishes IFMF institutions under credit cooperative format as a sector. Currently there are 42 legal entities and 87 branches who are affiliated with Sahulat through a memorandum of cooperation. These legal entities are registered under various cooperative acts enacted by state and central government.
Sahulat ensures the adherence of:
- Cooperative principles,
- Application of interest-free principles,
- Compliances of financial prudence,
- Professional governance
- Indicators of social performance management.
Sahulat provides support to the credit cooperatives in terms of legal advocacy, sectorial advocacy. Sector specific software with required features to improve efficiency of the cooperatives have also been developed and provided by Sahulat.
Sahulat Microfinance society helps the affiliated credit cooperatives societies to offer financial services at competitive pricing in the open market and to make the cooperative credit societies self-sustainable by widening and deepening its outreach. Sahulat affiliated credit cooperatives have reached around 220,000 members across 12 states of the nation, providing financial access for their consumption as well as business needs.