Vision

A Society that leads a LIFE of quality, economic security and prosperity

Mission

At LIFE our mission is to deliver innovative financial products to provide opportunity for the underserved sections of our society, to achieve their aspirations, thereby creating a sustainable social impact.

Values

  •  Place the customer’s interest first
  •  Be transparent and  ethical in approach in all dealings
  •  Be sensitive towards social and environmental concerns
  •  Encourage teamwork, professionalism and a culture of learning & innovation.

Target Segment

  • Economically Weaker Sections (EWS) and Low Income Groups (LIG) in rural and Semi-Urban areas
  • Missing  Middle  Segment of  Micro and  Small  Enterprises
  • Business  Correspondent work  for Banks  and large  NBFCs
  • Financial  Products  for underserved  SMEs
  • Digital Microcredit Loans

Earlier Innovations in Housing Microfinance

  • Incremental Housing: Rural borrowers are psychologically averse to avail a one-time loan with long tenor due to unpredictability of their income over a longer time horizon. They also prefer house construction in incremental stages due to the financial burden. Hence, an appropriate Short Tenor, low EMI financing product was designed for them.
  • Use of Semi-formal Title Documents To create a Para-Legal Mortgage: Using community acceptance of residency rights, creation of Para-legal documents using like the Village Panchayat and using these to create a workable collateral for housing and a recognition of the mortgage of the property to the Company.
  • Group Lending: Leveraging time-tested and well established group lending mechanisms of Microfinance into housing finance, which was traditionally considered an individual loan product. These Best Practices of Microfinance have been co-opted into Housing Finance viz.,
  • Partnership with Grass roots Institutions: Using Community connect of Grassroots institutions like NGOs and MFIs to source clients and collect repayments creating new Institutional Partnerships
  • Productive Housing:In addition to the core housing loan, the loans included, wherever necessary, a component for income generating activities to enable borrowers to generate additional income to service the housing loan.

Current Innovations in Financing Education in Rural Areas

  • Pioneering access to Education finance for unserved rural families: Identifying the need and aspirations of rural families for providing quality education to children at private schools and vocational institutes and providing the needed finance
  • Institution centric model of finance: Active engagement with private schools and vocational training institutes in rural and semi-urban areas to identify among their students, those needing finance for continuance of education thus preventing drop outs.
  • Pioneering Finance to the ‘MISSING MIDDLE’ of Rural Entrepreneurs: Providing access to Finance to Rural Micro-entrepreneurs in the segment of Rs.50, 000 to Rs.500,000 not covered by MFIs or formal Financial Institutions like Banks and NBFCs
  • Innovative Financial Solution to provide access to Clean Drinking Water:   Bringing Technology and Finance to villages to provide access to clean drinking water by facilitating establishment of Water ATMs by SHGs and Rural Micro-entrepreneurs
  • Innovative Roofing Finance Solution to provide opportunity to enhance quality of Shelter in Rural areas: Identifying the need for dedicated Roofing solutions for vulnerable rural families, particularly in coastal areas and high rainfall/wind speed zones and pioneering a specialised Financial Product for them.
  • Innovative Partnership Model with Grassroots institution and Micro entrepreneurs for effective Rural Outreach