ABOUT US
1st NBFC-MFI of Manipur
YVU Financial Services Private Limited (hereinafter referred to as YVU Financial) is a Company within the meaning of The Companies Act, 2013 and it is also registered as Non-Banking Financial Company – Micro Finance Institution (NBFC-MFI), under Section 45-IA of the Reserved Bank of India Act, 1934. It provides micro credit and other financial services in the state of Manipur, Assam and Tripura of India to the people who are otherwise unable to access finance from the mainstream financial system. These people normally resort to borrowing from local money lenders who charge exorbitant rate of interest ranging from 40% to 100% per annum. YVU Financial is the first company based in Manipur to be classified as NBFC-MFI by Reserve Bank of India.
VISION
To empower the underprivileged people by augmenting their income earning capacity through credit support and other financial services towards their economic independences and self-sustainability.
MISSION STATEMENT
In pursuit of its vision, YVU Financial has adopted the following missions:
- To remain an effective change agent and bring about a constructive transformation in the lives of people
- To improve its efficiency, sustainability and outreach
- To improve the quality of life for micro-entrepreneurs and poor households who have strong determination through provision of credit, capacity building and economic empowerment of downtrodden people
- To promote & encourage income generating activities for poor
1. All our dealings with customers will be open, fair and ethical.
2. We will treat all our customers with respect
3. We shall explain the following points to our customers in a clear & understandable manner prior to provision of financial or non-financial services:
• All the features, benefits, terms and conditions of our services
• Pricing of our services including all fees, charges and interest rate on an annual declining basis
• All documents required to be submitted with application.
4. We will make our best efforts to ensure that the loans we provide are within the customer’s capacity to repay and avoid customer over-indebtedness.
5. We will not follow coercive collection practices like:
• Refrain from collecting from customers at odd hours and during bereavement or sickness
• Avoid rude or aggressive behavior and using muscle power during collection
6. Provide valid acknowledgement or receipt for all payments received.
7. We will provide customers with a grievance redressal system to register their complaints and resolve it in a timely & fair manner
8. We will ensure that changes in interest rates/ charges are in effect only for future loans. Changes in rates/ charges will not affect existing loans
9. We will ensure that the rates of interest & charges are in accordance with Reserve Bank of India guidelines
MEET OUR TEAM
Well Qualified team
Bikendrajit Akoijam
Managing Director
Irom Anand Singh
Operation Manager
Akoijam Jagadish
MIS/IT Manager
M. Premkumar
Finance Manager