{"id":18431,"date":"2024-11-11T14:20:05","date_gmt":"2024-11-11T14:20:05","guid":{"rendered":"https:\/\/wordpress-1147733-4643473.cloudwaysapps.com\/news\/annapurna-finance-afpl-recognized-in-60-decibels-2024-microfinance-index-for-most-impactful-on-client-resilience-and-financial-inclusion\/"},"modified":"2024-11-11T14:20:05","modified_gmt":"2024-11-11T14:20:05","slug":"annapurna-finance-afpl-recognized-in-60-decibels-2024-microfinance-index-for-most-impactful-on-client-resilience-and-financial-inclusion","status":"publish","type":"post","link":"https:\/\/rvrising.com\/blogs\/news\/annapurna-finance-afpl-recognized-in-60-decibels-2024-microfinance-index-for-most-impactful-on-client-resilience-and-financial-inclusion\/","title":{"rendered":"Annapurna Finance (AFPL) Recognized in 60 Decibels\u2019 2024 Microfinance Index for Most Impactful on Client Resilience and Financial Inclusion"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/images.mid-day.com\/images\/images\/2024\/nov\/Annapurna_d.jpg\" \/><\/p>\n<p style=\"text-align: justify\">Annapurna Finance Pvt. Ltd. (AFPL), a leading NBFC-MFI in India, has been highlighted in 60 Decibels&rsquo; 2024 Microfinance Index for its transformative role in enhancing the financial resilience of underserved communities. With a significant focus on women borrowers and rural clients, AFPL&rsquo;s impact spans income growth, improved quality of life, and increased household decision-making power among its clients.<\/p>\n<p style=\"text-align: justify\">The 60dB Microfinance Index, an annual benchmark in the sector, analyzed feedback from over 36,000 clients across 45 countries. AFPL is acknowledged as one of the top-performing Financial Service Providers (FSPs) in Asia, with high scores in access to finance, business impact, and resilience, particularly among women and first-time borrowers. The index further emphasized Annapurna`s commitment to client protection, with a strong focus on ensuring loan transparency and promoting financial literacy.<\/p>\n<p style=\"text-align: justify\">Annapurna secured a score of 76 out of 100, following Standard Microfinance Bank from Nigeria (Score 89) and CJSC Bank &lsquo;Arvand&rsquo; from Tajikistan (Score 81). The scores are assigned based on 6 impact dimensions: Access, Business Impact, Household Impact, Client Protection, Resilience and Agency.<\/p>\n<p style=\"text-align: justify\"><strong>Key Highlights<\/strong><\/p>\n<ul style=\"text-align: justify\">\n<li><strong>Financial Empowerment and Business Growth: <\/strong>Annapurna&rsquo;s clients reported significant increases in income, with more than 55&amp;#37 noting a positive impact on their ability to earn from business activities and contribute to family expenses.<\/li>\n<li><strong>Quality of Life and Decision-Making: <\/strong>76&amp;#37 of clients expressed that their quality of life had improved significantly, with many highlighting enhanced ability to make financial decisions and a reduction in financial stress, more than 92&amp;#37 clients never had to reduce their &nbsp; food intake to make repayment obligations and their loan repayment obligations are not a problem which is way above the benchmark from global industry<\/li>\n<li><strong>Commitment to Client Protection and Transparency: <\/strong>AFPL scored high in client protection indicators, with clients noting clear communication on loan terms and fair treatment from agents.<\/li>\n<li><strong>Generating Employment: <\/strong>Annapurna&rsquo;s efforts have supported job creation within local communities, with 33&amp;#37 of clients reporting the ability to employ additional workers.<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong>Empowering Financial Resilience with Additional Services<br \/><\/strong>The 60dB Index revealed that Annapurna&rsquo;s additional services such as training and business support are helping clients build resilience against economic shocks. Clients with access to these services reported a marked increase in savings and an improved ability to handle emergency expenses, underscoring Annapurna`s role in fostering financial security and stability.<\/p>\n<p style=\"text-align: justify\"><strong>Comments from Annapurna Finance<br \/><\/strong>&#8220;We are proud to be recognized by 60 Decibels for our commitment to empowering clients through accessible, inclusive financial services,&rdquo; said Mr. Gobinda Chandra Pattanaik, Managing Director of Annapurna Finance. &ldquo;Our focus remains on reaching underserved populations with impactful financial solutions, and we are and will continue our journey in improving the lives of our clients.&#8221;<\/p>\n<p style=\"text-align: justify\"><strong>About Annapurna Finance (AFPL)<br \/><\/strong>Annapurna Finance Pvt. Ltd., founded in 2009, is one of India&rsquo;s leading NBFC-MFIs dedicated to promoting financial inclusion through microcredit and green financing. With roots in People&rsquo;s Forum, an NGO focused on community welfare, AFPL empowers economically disadvantaged clients across India. Today, Annapurna supports millions of clients with need-based financial services, driving entrepreneurship, enhancing livelihoods, and contributing to India&rsquo;s socio-economic growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Annapurna Finance Pvt. Ltd. (AFPL), a leading NBFC-MFI in India, has been highlighted in 60 Decibels&rsquo; 2024 Microfinance Index for its transformative role in enhancing the financial resilience of underserved communities. With a significant focus on women borrowers and rural clients, AFPL&rsquo;s impact spans income growth, improved quality of life, and increased household decision-making power&#8230;<\/p>\n","protected":false},"author":6,"featured_media":18432,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[204],"tags":[],"class_list":["post-18431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/posts\/18431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/comments?post=18431"}],"version-history":[{"count":0,"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/posts\/18431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/media\/18432"}],"wp:attachment":[{"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/media?parent=18431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/categories?post=18431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rvrising.com\/blogs\/wp-json\/wp\/v2\/tags?post=18431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}