Maanaveeya: Two decades of financial inclusion and impactful investment
At the Center Meeting in Kistagiri. A Spandana (Oikocredit partner) client signing a receipt for her repayment.
Oikocredit’s India subsidiary has helped improve millions of lives, creating opportunities where they are needed most.
Social finance institution Maanaveeya has been helping improve lives and outcomes for underserved people and lower-income communities in India for 20 years. Since it was incorporated on 4 August, 2004, Oikocredit International’s Indian subsidiary has promoted sustainable development by financing microfinance institutions (MFIs), micro, small and medium enterprises (SMEs), and sustainable energy projects.
Maanaveeya’s impact is reflected in its extensive network of 87 partners, who serve more than 2.07 million customers with a cumulative loan disbursement of INR 71.8 billion (EUR 774.9 million. Remarkably, 95% of these customers are women, with 75% representing rural households – an indication of the institution’s commitment to financial inclusion and supporting underrepresented communities.
Maanaveeya’s partners have grown alongside and serve as a testament to the organisation’s catalytic role in fostering a diverse range of enterprises, from micro to large-scale ventures.
The past two decades have been marked by resilience as Maanaveeya has navigated challenges such as the microfinance crisis in the state of Andhra Pradesh, demonetisation, and Covid-19, all while staying true to its core values, especially stakeholder solidarity.
Speaking at a special 20th-anniversary celebration, Managing Director Dr G Gouri Sankar said, “Over the last two decades, we have continuously strived to uplift low-income communities by driving financial inclusion and empowering MSMEs. Our journey is a testament to our dedication to creating a more equitable world.”
Looking to the years ahead, he laid out his vision for Maanaveeya 3.0, emphasising a future of scalable, sustainable investments with a deeper focus on innovation, technology and partnerships, ensuring even greater social impact in underserved markets.
Maanaveeya Chief Financial Officer Ram Babu added, "I joined Oikocredit India in 2001 before Maanaveeya came into existence and was part of the incorporation team. I’m very happy and proud to have been associated with Maanaveeya for 20 years and to witness its impactful growth. I’m particularly pleased that Maanaveeya has been transformed into a robust development entity over the past 10 years, with a highly motivated team and the continuous support of Oikocredit International."
Maanaveeya’s board has also focused on creating impact beyond business as usual, a commitment reflected in its Corporate Social Responsibility (CSR) strategy. For the past three years, the organisation has consistently exceeded the statutory 2% CSR budget requirement, investing 2.3% of profits into innovative initiatives. In 2022, its pioneering efforts in amplifying the use of clean energy solutions were recognised with the Mahatma Award for CSR Excellence.
Among its recent awards, Maanaveeya was recently named an Innovative Company In Focus – 2024 by Innovative Zone, a global business magazine.
Maanaveeya hosted a special anniversary celebration where staff and their families shared a lunch together. Colleagues exchanged personal anecdotes and reflected on their journey with Maanaveeya. The managing director also presented mementoes to the team and gifts to the children, making the day truly memorable.
Maanaveeya hosted a heartwarming celebration, inviting staff and their families to share a special lunch together. The event was filled with personal stories, as employees reflected on their journeys with Maanaveeya. The Managing Director added a memorable touch by presenting mementoes to the team and delightful gifts to the children, making the day truly unforgettable.
