Bharat Financial Inclusion Limited (Formerly Known as SKS Microfinance Limited)

founded in 1998, bharat financial inclusion limited (formerly known as sks microfinance limited) bfil is a non-banking finance company (nbfc), regulated by the reserve bank of india. bfil distributes small loans that begin at rs. 2,000 to rs. 12,000 (about $44-$260) to poor women so they can start and expand simple businesses and increase their incomes. their micro-enterprises range from raising cows and goats in order to sell their milk, to opening a village tea stall.bfil uses the group lending model where poor women guarantee each other’s loans. borrowers undergo financial literacy training and must pass a test before they are allowed to take out loans. weekly meetings with borrowers follow a highly disciplined approach. bfil also offers micro-insurance to the poor as well as financing for other goods and services that can help them combat poverty. currently, bfil has 1324 branches in 18 states across india. the company’s mission is to provide financial services to the economically