About Us
About
Parmar Micro Finance has been incorporated under Company Act, 2013 and registered with Central Government as a ‘Sec 8 company – Not For Profit on 26th Feb, 2021.
Parmar started formal Micro Finance operation from 1ST April 2022 from its first branch office at Ghazipur located in U.P. The authorized capital of Parmar Micro Finance is Rs. 0.10 million and paid up capital is Rs 0.10 million.
Lending Methodology
Considering the diversity of country, Parmar Micro Finance has adopted various lending methodologies as described below:
1.Grameen Bank (GB) Model- Following basic principles of GB model with suitable local modification, through which lending to especially group of women on center up to 8-10 groups based on group/center guarantee.
2. Micro Entrepreneurs (ME) Model- Providing Financial Services to Entrepreneurs start up or existing business
3. Individual Lending (IL) Model- Lend to individual members.
4. Business Correspondent (BC) Model – Parmar Micro Finance is in process of tie up to lend on behalf of commercial banks in the remote location.
5. Farmer Producer Organization (FPO): Providing backward linkage to farmers by financially supporting the FPO during initial stages and later they may approach bank for funds
The uniqueness of the methodology is
Flexibility of group formation
Simplicity and transparent system
Standardization
Innovative models and diversified products and services
Delegation of authority in the field level
Rigorous on-the-job training to staff and technical assistance
Simple and shorter loan processing time
Written policy, manual and guideline
Strong monitoring and supervision
Standard and low cost structure (furniture, fixture and administrative costs).
Service Quality
Parmar Micro Finance strongly believes that the clients have every right to get transparent, efficient and qualitative services. Parmar Micro Finance has established a mechanism to interact periodically with the clients during center visit and attending center achieves annual meeting to have feedbacks and suggestions on efficacy of existing products and services, procedures, and other emergence issues.
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Parmar Micro Finance
Mission Statement & Background
Parmar Micro Finance has been set up purely to service the needs of its clients. It provides a total financial experience tailored to professionals, self-employed and SME’s (small / medium business enterprise).
Structuring finance facilities correctly to suit a client’s immediate and long term goals is seen as the greatest benefit that Parmar Micro Finance can provide.
The quantity of growth that we have experienced over the past 4 years ,we largely feel bound to our transparent and efficient services. Our main objective is to solve the problems of uncertainly requirement of money at anytime anywhere through easiest and fastest technology.