From grassroots community development in 2017 to a multi-state NBFC financial platform.
The organization's journey begins as a Not-For-Profit organization under the banner of Bansdroni Poddar Development Trust.
The organization takes its first step by opening its Bansdroni branch. The single Bansdroni branch builds a portfolio of ₹4 crore.
The journey to transition into a Non-Banking Financial Company (NBFC) begins.
The organization is granted the NBFC license. (Execution faced challenges, including the COVID-19 pandemic). Operations commence as an NBFC. The organization rebrands as Jeevan Utthan Financial Services Pvt. Ltd.
Portfolio stands at ₹6.9 crores across 10 branches (without any external lending).
Portfolio grows to ₹9.99 crores (still without any external lending). Secures the first external lending of ₹1 crore from Usha Financial Services Ltd. Secures an additional lending of ₹1.5 crores from SBI Agri Commercial Branch. Applies to the RBI for NBFC re-classification to NBFC-MFI.
New branches planned to open in the states of Bihar and West Bengal. Aims to close the portfolio at ₹20 crores.
