Welcome to SAIJA

Founded in the year 2007 by Shashi Ranjan Sinha and Rashmi Sinha, Saija Finance Private Limited, is the first Bihar focused NBFC- MFI (Non-Banking Finance Company -Micro Finance Institute). The company has its Headquarters in New Delhi.

Saija has its footprints in the following states of India:-

1. Bihar

2.Jharkhand

3.Uttar Pradesh

4.Haryana

5.Punjab

The company has successfully completed more than 10 years of its operations in Bihar and it is growing exponentially in other states.

Stepping in its 13 years of successful operation, SAIJA was formed with a focus on providing microfinance services to urban and rural poor, as well as micro and small businessmen, in the underserved geographies of Northern & Eastern India, starting with Bihar. The geographic regions served by SAIJA are amongst the poorest in India and also are grossly underserved by formal financial institutions.

What’s New

- Saija has made its collections cashless by collaborating with Airtel payment Bank, Fing pay, Fino payment Bank, Pay U, and Kaleidofin
  
  Cashless services in operation at each and every Branch of Saija since July 2020.
- ADB to provide guarantee for term loans from select banks to Saija.
- Saija has been certified with Green Certification for the initiatives carried out as a part of the Solar initiative campaign to women entrepreneurs which has resulted in substantial reduction of carbon emissions and also improved the quality of life by providing better environment in the households.
- Saija makes clean energy solutions affordable and accessible in rural India
- The Company has been successful in raising Equity of Rs. 300 million from its existing Investors Accion Africa Asia Investment Company and Pragati India Fund Limited. With this capital support, the Company now has a sufficient level of growth capital in place, to support the leverage required for its proposed expansion plans.

Milestones

2019

The launch of mobile-based of front-end technology
1st company to complete ten successful years as a finance company in the 100 years history of Bihar as a state.
1st Multistate MFI to have over 50% of its portfolio in Bihar.
1st MFI to create a Super 30 Entrepreneurship Development Program for women in Bihar.
1st MFI to celebrate its 10 th anniversary with 6000 of its select clients in Bihar .
1st MFI to create a world record in the production of Foxnut pudding ( makhana kheer ) to promote the huge export potential of Foxnut.

2018

M-Cril has rated high in Third Party Evaluation for customer service index
SAIJA is expanding its operation in Punjab
Saija has received Green Certification from Maruti Consulting for Solar initiatives
M-Cril has rated high in Third Party Evaluation

2017

Implementation of Progress out of poverty Index (PPI).
SAIJA enters Haryana.
SAIJA has been rated BBB (-) by ICRA.
Technical Assistance by Blue Orchard for capacity building.
Fresh equity fusion of by ACCION & Pragati.

2016

ICRA has rated high ( SP2 +) in Social Performance Assessment
Successful implementation of solar energy program with TA support from USAID

2015

Saija expands into Uttar Pradesh
Awarded with Skoch Order of Merit Award-2015 for its exemplary work done in the field of Financial Inclusion and OMNI enterprise implementation

2014

Saija is one of the three state companies in Bihar’s Innovation Forum list of 67 finalists identified for high impact innovation
Recognized by CRISIL as one of the emerging MFIs in the recently published report – “India’s 25 Leading MFIs”
Saija is graded MF2 by ICRA which implies high sustainability of operations
Saija expands into Jharkhand

2013

Saija is identified by SIDBI for support under their DFID sponsored PSIG (Poor State Inclusive Growth) Programme
SIDBI invests INR 300 lakhs in the form of Optionally Convertible Preference Shares (OCPS)
Saija entrusts Tower Watson for restructuring compensation and performance management system
Agreement with IFC for providing technical assistance

2012

Equity infusion from Accion and Pragati
Rated A for Code of conduct Assessment by Access Assist sponsored by SIDBI

2011

Partnership with IFMR trust
Launch of Cashless transaction in partnership with EKO

2010

Installation of state-of-the-art MIS software OMNI Enterprise.
Three new branches opened

2009

Equity Investment from Accion
Branch and Head Office separated with two branches in Patna District
Expansion outside Patna district

2008

Saija Finance Private Limited formed as a Non Banking Finance Company (NBFC) in April
Loan portfolio of Saija Vikas transferred to Saija Finance Pvt Ltd
Technical assistance agreement with Accion International
Second loan product Saija Mahila Rin launched

2007

Saija Vikas gets registered as a society
First loan product Saija Karobar Rin launched
Saija disburses its first loan to SKR clients

Business Snapshot Feb’21

Clients: 1,28,744
Portfolio: Rs 227.5 Cr.
No of Employees: 750
Branches: 101
States: 05
Districts: 61