{"id":45651,"date":"2024-11-12T16:13:18","date_gmt":"2024-11-12T10:43:18","guid":{"rendered":"https:\/\/newswiredelhi.com\/index.php\/2024\/11\/12\/annapurna-finance-recognized-for-leadership-in-client-protection-and-financial-literacy\/"},"modified":"2024-11-12T16:13:18","modified_gmt":"2024-11-12T10:43:18","slug":"annapurna-finance-recognized-for-leadership-in-client-protection-and-financial-literacy","status":"publish","type":"post","link":"https:\/\/newswiredelhi.com\/index.php\/2024\/11\/12\/annapurna-finance-recognized-for-leadership-in-client-protection-and-financial-literacy\/","title":{"rendered":"Annapurna Finance Recognized for Leadership in Client Protection and Financial Literacy"},"content":{"rendered":"<div>\n<p><strong>Bhubaneswar (Odisha) [India], November 12: <\/strong>\u00a0Annapurna Finance Pvt. Ltd. (AFPL), a leading NBFC-MFI in India, has been highlighted in 60 Decibels\u2019 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\u2019s impact spans income growth, improved quality of life, and increased household decision-making power among its clients.<\/p>\n<p>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\u2019s commitment to client protection, with a strong focus on ensuring loan transparency and promoting financial literacy.<\/p>\n<p>Annapurna secured a score of 76 out of 100, following Standard Microfinance Bank from Nigeria (Score 89) and CJSC Bank \u2018Arvand\u2019 from Tajikistan (Score 81). The scores are assigned based on 6 impact dimensions namely Access, Business Impact, Household Impact, Client Protection, Resilience and Agency.<\/p>\n<p><strong>Key Highlights:<\/strong><\/p>\n<ul>\n<li><strong>Financial Empowerment and Business Growth:<\/strong>\u00a0Annapurna\u2019s clients reported significant increases in income, with more than 55% 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>\u00a076% 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% clients never had to reduce \u00a0their \u00a0 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>\u00a0AFPL 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>\u00a0Annapurna\u2019s efforts have supported job creation within local communities, with 33% of clients reporting the ability to employ additional workers.<\/li>\n<\/ul>\n<p><strong>Empowering Financial Resilience with Additional Services<\/strong><\/p>\n<p>The 60dB Index revealed that Annapurna\u2019s additional services\u2014such as training and business support\u2014are 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\u2019s role in fostering financial security and stability.<\/p>\n<h4><strong>Comments from Annapurna Finance<\/strong><\/h4>\n<p>\u201cWe are proud to be recognized by 60 Decibels for our commitment to empowering clients through accessible, inclusive financial services,\u201d said Mr. Gobinda Chandra Pattanaik, Managing Director of Annapurna Finance. \u201cOur 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.\u201d<\/p>\n<h4><strong>About Annapurna Finance (AFPL)<\/strong><\/h4>\n<p>Annapurna Finance Pvt. Ltd., founded in 2009, is one of India\u2019s leading NBFC-MFIs dedicated to promoting financial inclusion through microcredit and green financing. With roots in People\u2019s 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\u2019s socio-economic growth.<\/p>\n<p><em> If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bhubaneswar (Odisha) [India], November 12: \u00a0Annapurna Finance Pvt. Ltd. (AFPL), a leading NBFC-MFI in India, has been highlighted in 60 Decibels\u2019 2024 Microfinance Index for its transformative role in enhancing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":45652,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_rishi_post_view_count":288},"categories":[827,686,680,807,828,683,9],"tags":[685],"class_list":["post-45651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-annapurna-finance","category-business-news","category-finance","category-financial-literacy","category-leadership-in-client-protection","category-pnn-news","category-press-release","tag-finance","rishi-post"],"rishi__cb_customizer_meta":"","comments_count":"0","_links":{"self":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/45651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/comments?post=45651"}],"version-history":[{"count":0,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/45651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media\/45652"}],"wp:attachment":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media?parent=45651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/categories?post=45651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/tags?post=45651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}