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Introduction
BASIX is a new generation livelihood promotion Institue, which has group of financial services and technical assistance companies held together by Bhartiya Samruddhi Investments and Consulting Services Ltd or BASICS Ltd in short, the holding company through which equity and debt investments are made in-group in three different companies to address diverse set of task.
Bhartiya Samruddhi Finance Limited (BSFL)
This is a Non Banking Financial Company registered under the RBI and owned by major financial institutions and it is engaged in micro credit and retailing insurance and providing technical assistance services to it borrowers through Ag/BDS and IDS.Krishna Bhima Samruddhi Local Area Bank Ltd (KBS LAB)
This is the country's only rural micro finance bank providing micro credit and savings services and has obtained license from RBI for the same; it is a wholly owned subsidiary of BASICS Ltd that started its operations in March 2001 with an initial investment of Rs.5 crores.Indian Grameen Services (IGS)
This is a not-for-profit Section 25 company which is involve in promoting livelihood agenda through action research in productivity enhancement of crops, undertaking pilot projects in rural power, water and retailing of consumable inputs. It is also involved in applied research and consulting in various areas of livelihood promotion and is working in collaborations with various government bodies, cooperatives, and non-governmental organizations.Sarvodaya Nano Finance Ltd.
This was promoted by BASIX in 1997 and in July 2001 its entire equity was transferred to a group of community based mutual benefit trusts, whose member now comprise over 150,000 women in Tamil Nadu organized into over 12,000 SHG's.Besides all these companies, BASIX also provides consulting services through its Applied Research and Consulting (ARC) Wing to various Indian and international clients like IFC, ADB, DFID and CII. BASIX also provides IT services required for promotion of livelihood in the rural sector and effective Institutional development inputs like developing operating designs, HR system by its IT wing called Information Technology Solutions for Livelihoods (ITSL).
Mission
The mission of BASIX is to promote a large number of sustainable livelihoods, including for the rural poor and women, through the provision of financial services and technical assistance in an integrated manner.BASIX will strive to yield a competitive rate of return to its investors so as to be able to access mainstream capital and human resources on a continuous basis.