Swadhaar: Self-Support through Financial Services
Swadhaar FinServe Private Limited (Swadhaar), a non-banking financial company-microfinance institution (NBFC-MFI), was set up in Mumbai, India in 2008 with the objective of providing the urban poor with increased access to financial services. Swadhaar was a leading provider of financial services to clients in several major states of India. Between 2009 and 2013, there were major changes in the regulatory environment; some of these restricted the scope of MFIs and others opened new business opportunities. Although Swadhaar was able to reach financial sustainability with its existing business model, its founder was always looking at growth strategies to achieve her mission. In late 2014, RBL Bank Ltd. offered to become a strategic investor in Swadhaar. In early 2015, Swadhaar's founder needed to decide whether or not to accept RBL Bank Ltd.'s proposal. Rajesh Panda, Madhvi Sethi, and Pooja Gupta are affiliated with Symbiosis Institute of Business Management Bengaluru, Symbiosis International (Deemed University), Pune, India.