BASIX: Grassroots

Given away by Dr C Rangarajan, Hon’ble Chairman, Economic Advisory Council to the Prime Minister on this 18th day of March 2010, at New Delhi

Financial inclusion is an oft-repeated word. But, if there is one institution that is putting action before the word, it is BASIX. Established in 1996 as a livelihood promotion institution, 90 percent of its customers are rural poor households and the rest urban slum dwellers. With presence in 16 states, 205 districts over 25,300 villages and one and half million customers, its commitment to promoting sustainable livelihood for the poor, be it a rickshaw puller,carpenter or even a cobbler, its commitment remains un-wavered. It is an institution that is successfully providing a comprehensive set of livelihood promotion services, including financial inclusion services, agricultural / business development services and institutional development services, under one umbrella even as it strives to maintain a competitive rate of return on its operations.

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