BASIX is an institution concerning the promotion of livelihood established in 1996 in
India
India, officially the Republic of India ( Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the ...
. It is headquartered in
Hyderabad, Telangana
Hyderabad ( ; , ) is the capital and largest city of the Indian state of Telangana and the ''de jure'' capital of Andhra Pradesh. It occupies on the Deccan Plateau along the banks of the Musi River, in the northern part of Southern India. W ...
.
BASIX Group
BASIX is the brand name of a group of companies, which are:
* Bhartiya Samruddhi Investments and Consulting Services Ltd. (BASICS Ltd), is the holding company through which equity and debt investments are made in the group companies. It set up two fund based companies - Bhartiya Samruddhi Finance Ltd, a micro-finance NBFC in 1997 and Krishna Bhima Samruddhi Local Area Bank Ltd in 2001. It also promoted BASIX Academy for Building Lifelong Employability Limited, BASIX Consulting and Training Services Limited, BASIX Krishi Samruddhi Limited, and Ctran Consulting Limited.
* Indian Grameen Services, is a non-profit company, registered under the Section 25 of the Companies Act. IGS was promoted by Professional Assistance for Development Action (PRADAN). Established in 1987 by
Vijay Mahajan
Vijay Mahajan is the Chief Executive Officer (CEO) of the Rajiv Gandhi Foundation and the Director of the Rajiv Gandhi Institute of Contemporary Studies.
Mahajan was the founder of the BASIX Social Enterprise Group which is engaged in liveliho ...
,
Deep Joshi
Deep Joshi is an Indian social worker and NGO activist and a recipient of the Magsaysay award in 2009. He is recognised for his leadership in bringing professionalism to the NGO movement in India. He co-founded a non-profit organisation, Profes ...
and
Sankar Datta
Dr. Sankar Datta (born February 17, 1958), is an Indian academic and professional development worker. He has been engaged in rural livelihood promotion and support activities for more than three decades since the early 1980s. Most of his field ...
, it engages in capacity building, research and development to extend commercial services for promoting livelihood opportunities for rural producers. During 1988-1995, IGS focused initially on identifying and developing livelihoods, then on provision of technical assistance and support services, and then on providing marketing support.
* Bhartiya Samruddhi Finance Ltd. (Samruddhi), an
RBI
RBI most often refers to:
*Reserve Bank of India
*Run batted in
RBI may also refer to:
Organisations
*Radio Berlin International
*Raiffeisen Bank International
*Reed Business Information
*Restaurant Brands International
*Ruđer Bošković In ...
registered
NBFC
A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFC facilitate ba ...
, is engaged in micro-credit, retailing insurance and providing technical assistance in agriculture, business, and institutional development to its customers.
* Krishna Bhima Samruddhi Local Area Bank Ltd. (KBSLAB), is an RBI licensed bank providing micro-credit and savings services in three backward districts,
Raichur
Raichur (formerly Raichore) is a city and municipality in the district of Raichur in the Indian state of Karnataka. Raichur, located between Krishna and Tungabhadra rivers, is the headquarters of Raichur district. It is located 409 km fr ...
,
Gulbarga
Kalaburagi, formerly known as Gulbarga, is a city in the Indian state of Karnataka. It is the administrative headquarters of the Kalaburagi district and is the largest city in the region of North Karnataka ( Kalyana-Karnataka). Kalaburagi i ...
, and
Mahbubnagar
Mahabubnagar is a city in Mahabubnagar District of the Indian state of Telangana named after the 6th Nizam, Mahboob Ali Khan. It is the headquarters of Mahabubnagar mandal in Mahabubnagar revenue division. The city is also the largest in the ...
.
* Sarvodaya Nano Finance Ltd. (Sarvodaya), is an RBI registered NBFC, owned by women’s self-help groups, and managed by BASICS Ltd.
Strategy and activities
To offer agricultural and business development services, such as input supply, training, technical assistance and market linkages, in a cost-effective manner, poor households are organized into groups, informal associations and sometimes cooperatives or producer companies. The formation of such groups and making them function effectively requires institutional development services. BASIX aims to provide three services concerning this, which it calls the Livelihood Triad:
* Livelihood Financial Services: including
micro-savings,
micro-credit
:''This article is specific to small loans, often provided in a pooled manner. For direct payments to individuals for specific projects, see Micropatronage. For financial services to the poor, see Microfinance. For small payments, see Micropaym ...
, and
micro-insurance
Microinsurance is the protection of low-income people (those living on between approximately $1 and $4 per day( below $4)) against specific perils in exchange for regular premium payment proportionate to the likelihood and cost of the risks involve ...
.
* Agricultural and Business Development Services: through local value addition, non-financial risk mitigation, productivity improvement, and alternative market linkages
* Institutional Development Services: an attempt to evolve and reinforce a set of behavioural norms and processes for a group of people to act in a sustainable manner, to achieve the purpose for which they together.
BASIX also provides sectoral and policy research services, feasibility studies and other consultancy services using companies within the group, with a focus on contributing to the knowledge and practice of livelihood promotion. Its customers have included international bodies, the
Government of India
The Government of India ( ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...
, and several state governments.
Outreach
BASIX works in 20,000 villages in 106 districts in the states of
Telangana
Telangana (; , ) is a state in India situated on the south-central stretch of the Indian peninsula on the high Deccan Plateau. It is the eleventh-largest state and the twelfth-most populated state in India with a geographical area of and ...
,
Karnataka
Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Kar ...
,
Tamil Nadu
Tamil Nadu (; , TN) is a state in southern India. It is the tenth largest Indian state by area and the sixth largest by population. Its capital and largest city is Chennai. Tamil Nadu is the home of the Tamil people, whose Tamil languag ...
,
Orissa
Odisha (English: , ), formerly Orissa ( the official name until 2011), is an Indian state located in Eastern India. It is the 8th largest state by area, and the 11th largest by population. The state has the third largest population of S ...
,
Jharkhand
Jharkhand (; ; ) is a state in eastern India. The state shares its border with the states of West Bengal to the east, Chhattisgarh to the west, Uttar Pradesh to the northwest, Bihar to the north and Odisha to the south. It has an area of . ...
,
Maharashtra,
Madhya Pradesh
Madhya Pradesh (, ; meaning 'central province') is a state in central India. Its capital city, capital is Bhopal, and the largest city is Indore, with Jabalpur, Ujjain, Gwalior, Sagar, Madhya Pradesh, Sagar, and Rewa, India, Rewa being the othe ...
,
Rajasthan
Rajasthan (; lit. 'Land of Kings') is a state in northern India. It covers or 10.4 per cent of India's total geographical area. It is the largest Indian state by area and the seventh largest by population. It is on India's northwestern s ...
,
Bihar
Bihar (; ) is a state in eastern India. It is the 2nd largest state by population in 2019, 12th largest by area of , and 14th largest by GDP in 2021. Bihar borders Uttar Pradesh to its west, Nepal to the north, the northern part of West ...
,
Chhattisgarh,
West Bengal
West Bengal (, Bengali: ''Poshchim Bongo'', , abbr. WB) is a state in the eastern portion of India. It is situated along the Bay of Bengal, along with a population of over 91 million inhabitants within an area of . West Bengal is the four ...
,
Delhi
Delhi, officially the National Capital Territory (NCT) of Delhi, is a city and a union territory of India containing New Delhi, the capital of India. Straddling the Yamuna river, primarily its western or right bank, Delhi shares borders wi ...
and
Assam
Assam (; ) is a state in northeastern India, south of the eastern Himalayas along the Brahmaputra and Barak River valleys. Assam covers an area of . The state is bordered by Bhutan and Arunachal Pradesh to the north; Nagaland and Manipur ...
.
Since the inception of the group, BASIX has cumulatively disbursed Rs 893 crore (USD 220 million) through nearly 578,000 cumulative loans. The loan outstanding as of 31 March 2007 was Rs 234 crore (USD 58 million) for the group with over 347,651 customers. As much as 41% of the loans went to the farm sector, which is severely impaired for want of credit and 59% to women, who tend to be financially excluded.
Savings services were provided through KBSLAB, by linking urban BSFL customers with banks or post offices and through Self-help groups in the case of Sarvodaya. The total coverage was 450,000.
BASIX insures its customers against risks like death, spouse's death, critical illness, hospitalization and permanent disability. It has rainfall-index based crop insurance, livestock insurance and micro enterprise asset insurance and deposit insurance for savings customers. In 2006-07, this coverage was extended to 473,932 asset owners. Over 10,000 cumulative claims have been settled amounting to Rs 36 million.
BASIX provided Agriculture/Business Development Services for productivity enhancement, non-insurance risk mitigation, local value addition and market linkages. These services were extended to 72,000 producers. Fees collected towards providing these services amounted to Rs 1.6 crore.
BASIX provides Institutional Development Services to Self-Help groups, SHG federations, Mutual Benefit Trusts, Producer Groups and Cooperatives, to aid producers' livelihood activities. These services were extended to 25,110 groups, with over 683,000 members. Fees collected towards providing these services amounted to Rs 2.4 crore.
[BASIX Annual Report, 2007]
See also
*
Vijay Mahajan
Vijay Mahajan is the Chief Executive Officer (CEO) of the Rajiv Gandhi Foundation and the Director of the Rajiv Gandhi Institute of Contemporary Studies.
Mahajan was the founder of the BASIX Social Enterprise Group which is engaged in liveliho ...
*
Deep Joshi
Deep Joshi is an Indian social worker and NGO activist and a recipient of the Magsaysay award in 2009. He is recognised for his leadership in bringing professionalism to the NGO movement in India. He co-founded a non-profit organisation, Profes ...
*
Sankar Datta
Dr. Sankar Datta (born February 17, 1958), is an Indian academic and professional development worker. He has been engaged in rural livelihood promotion and support activities for more than three decades since the early 1980s. Most of his field ...
References
{{DEFAULTSORT:Basix (India)
Rural community development
Microfinance companies of India
Companies based in Hyderabad, India
1996 establishments in Andhra Pradesh