Vedika Credit Capital ltd

Providing financial services to micro entrepreneurs

India

The microfinance institution Vedika Credit Capital Ltd (Vedika) is based in Jharkhand and registered with the Reserve Bank of India.

Vedika was founded in 1995 and has been offering microfinance services since 2007. Vedika has been an Oikocredit partner since 2018.

The MFI provides loans to women in low-income households in urban and rural areas across five different states (Jharkhand, Bihar, West Bengal, Uttar Pradesh and Assam) via a network of more than 80 branches (2018).

The institution's microfinance lending activities focus on women in urban areas via Joint Liability Groups (JLGs). The members of such groups receive collateral-free loans for income-generating activities. All groups receive training on the JLG methodology. In addition to loans, Vedika offers loans to purchase solar lamps and energy-saving kitchen equipment, such as pressure cookers.