Ujjivan signs MoU with Manipal Global Education Services for talent transformation for upcoming Small Finance Bank

20 July 2016, Bangalore:
Ujjivan, one of India’s largest MFI and with an in-principle approval from RBI to setup up a small finance bank ("SFB"), has signed a Memorandum of Understanding (MoU) with Manipal Global Education Services (MaGE) to offer a customised Banking Training Program for participants at their Banking Training Campus in Bangalore and Jaipur.


MaGE’s Banking Training Program is a customised residential training program. It is designed to skill learners on various areas of Banking and Finance disciplines coupled with intensive computer/software application skills training.


The aim of the Banking Training Program is to mould officers of high calibre in the banking field and create productive workforce. The first batch of the Banking Training Program commenced on 11th July 2016 at Manipal Academy of Banking Bangalore Campus and was inaugurated by Mr Samit Ghosh Managing Director Ujjivan.


Speaking on this occasion, Mr.Samit Ghosh, Managing Director Ujjivan said, "Through this specialized programme the approach would be, learn and acquire the knowledge of a banker, within the rules and regulation of Micro Financing so that we effectively do the responsibility and bring financial inclusion”


Mr. S Vaitheeswaran, MD and CEO, MaGE said, “There is a need for talent pool in India which has to go beyond the normal metros and to get them ready from beginning. It’s fortunate to be part of a transformation journey of banking analysis in this country which may re-define the banking solution”

 He also emphasised on the leadership of Ujjivan which believes to train and rejuvenate constantly in the rapidly changing market


About Ujjivan


Ujjivan started operations as an NBFC in 2005 with the mission of providing a full range of financial services to the economically active poor who are not adequately served by financial institutions. Presently, our operations is spread across 24 states and union territories, and 209 districts across India, making us the largest MFI in terms of geographical spread. We serve over 2.77 million active customers through our 469 branches and 7,786 employees and our Gross AUM stands at ₹40.88 billion as on September 2015 making us one of India's leading Micro Finance Institutions.


On October 7, 2015, Ujjivan received an in-principle approval from the RBI to set up a small finance bank ("SFB"). (Source: RBI Press Release)


Ujjivan's business is primarily based on the joint liability group lending model for providing collateral free, small ticket-size loans to economically active poor women. We also offer individual loans to Micro & Small Enterprises ("MSEs"). Ujjivan has adopted an integrated approach to lending, which combines a high customer touch-point typical of microfinance, with the technology infrastructure and related back-end support functions similar to that of a retail bank. This integrated approach has enabled it to manage increasing business volumes and optimize overall efficiencies.


For the past five consecutive years, Ujjivan has been ranked consistently among the top 25 companies to work for in India by the Great Places to Work® Institute in partnership with the Economic Times. For the year 2015, we were ranked 1st in the microfinance sector by the Great Places to Work® Institute. Our employee productivity ratio (number of clients per loan officer), which was 633 as of September 30, 2015, is higher than the industry average of 579 as of September 30, 2015. (Source: MFIN Micrometer Report, September 2015).


Further details: http://www.ujjivan.com/