Disha Microfinance, operating under the name Fino Finance Private Limited, is a non-banking financial company (NBFC) focused on providing financial services to the underserved and unbanked populations in India. While previously known as Disha Microfinance, the organization underwent a significant transformation and is now a subsidiary of Fino Payments Bank.
Originally established as a microfinance institution (MFI), Disha’s core objective was to empower low-income individuals, particularly women in rural and semi-urban areas, by providing access to microloans. These loans were primarily used for income-generating activities such as agriculture, animal husbandry, and small businesses, enabling individuals to improve their livelihoods and achieve financial independence.
Disha Microfinance operated on the Joint Liability Group (JLG) model, where borrowers formed small groups and provided mutual guarantees for each other’s loans. This model fostered a sense of community responsibility and ensured higher repayment rates. By leveraging the JLG model, Disha was able to effectively manage risk and provide financial access to individuals who typically lacked access to formal banking services.
Over time, Disha expanded its product portfolio to include a range of financial services beyond microcredit. These included savings accounts, insurance products, and other financial literacy programs aimed at enhancing the overall financial well-being of its clients. By providing a comprehensive suite of services, Disha aimed to be a one-stop shop for the financial needs of its target market.
The acquisition by Fino Payments Bank marked a strategic shift for Disha Microfinance. Becoming a subsidiary of Fino Payments Bank allowed Disha to leverage the bank’s extensive network, technological infrastructure, and broader range of financial products. This integration enabled Disha to offer more comprehensive and innovative financial solutions to its customers, including access to digital payment platforms and other banking services.
Today, as Fino Finance Private Limited, the organization continues to focus on financial inclusion, but with a stronger emphasis on digital solutions and leveraging the capabilities of Fino Payments Bank. The company provides loans for various purposes, including income generation, education, and housing. Furthermore, it actively promotes financial literacy and empowers individuals to make informed financial decisions.
Fino Finance Private Limited, formerly Disha Microfinance, plays a significant role in India’s financial inclusion landscape by providing access to financial services for underserved communities. Through its microfinance operations and integration with Fino Payments Bank, the organization is committed to empowering individuals and promoting sustainable economic development. The legacy of Disha Microfinance continues to thrive as Fino Finance, driving financial inclusion and creating opportunities for a better future for millions of Indians.
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