Belstar Microfinance Limited (Belstar) is a Non-Banking Finance Company (NBFC) and a subsidiary of Muthoot Finance Limited. Guided by an expert Board member team and an able leadership, the company has successfully transitioned into a profitable and high-potential Microfinance Institution (MFI) with low credit risk. Belstar’s business model is unique as it pursues a double bottom line focusing on both financial performance as well as social performance with the assistance of the Hand in Hand India in alleviating poverty coupled with community development.
The Company’s growth was further accelerated after the strategic equity investment by Muthoot Finance Limited, helping it secure an “A” rating. This has helped Belstar focus on diversification of the funding profile, expansion in operational states and making inroads into newer geographies.
Belstar was incorporated in January 1988 at Bangalore and being an NBFC, was registered with the RBI in March 2001.The Company has been reclassified as an “NBFC-MFI” by RBI effective 11 th December 2013. The Company is now a Non-Deposit taking Systemically Important NBFC-MFI. During FY 2017-18, the Company became a deemed public limited company status after it became the subsidiary of Muthoot Finance Ltd.
Belstar was acquired by Hand in Hand group in September 2008 to provide scalable microfinance services to entrepreneurs nurtured by the Hand in Hand India (HIH) Self Help Group (SHG) program. It aims to provide financial assistance to more than 0.3 million borrowers within the next 5 years and intends to use its synergy with the activities of the Hand in Hand group to create 5 million jobs by end of 2020. BIFPL started its micro lending operations in a small way in one district in Tamil Nadu and two districts in Karnataka in April 2009.
In the first five years of its operations post acquisition by HIH, BIFPL primarily relied on taking over the existing groups formed by Hand in Hand India (HIH). BIFPL now follows both the SHG as well as the PRAGATI model of lending. Muthoot Finance Limited a listed company and the largest gold financing Company has made a strategic Equity Investment of Rs 40 Crore in the Company in the month of July 2016 and also acquired all the stake from the foreign Investors.
To be a socially responsible microfinance institution working towards entrepreneurship and economic empowerment of women and achieving double bottom line
To impact over 3.5 million women through affordable credit and entrepreneurship by 2025
To provide digital financial inclusion to microentrepreneurs
Integrity, Professionalism, Accountability, Transparency,Team Work
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