Annual Report 2019-20
Our success is interlinked with the wellbeing of the societies in which we operate. As one of the leading housing finance companies, we understand our responsibility to leaving a positive impact on the communities.
Our country still has a huge share of economically active urban and rural poor, who need financial support to realise their dream of owning a home, but cannot approach formal channels of finance. Our key home loan product ‘Swaraj’ Loan caters to such people across the social pyramid, mainly belonging to the underserved sections in Tier-1 and Tier-II cities. We fulfill the needs of these first-time home buyers by enabling them the freedom from strict income documentation and by providing loans at affordable interest rates.
The credit linked subsidy scheme (CLSS) under PMAY (U) requires the home to be compulsorily owned or co-owned by a woman member of the family. Aligned with the Government’s vision of women empowerment through CLSS, we facilitate our customers with subsidy benefits and inspire women to build better lives for themselves and their families.
Through our ‘Samman’ loan offering, we strive to uplift the lives of small traders and businesses by helping them expand their businesses and meet other personal or professional needs. It is a tailor-made product to meet the financial needs of small set-up owners including a grocery store, mobile store, restaurant among others, against mortgage of immovable property,
The Company has actively contributed towards Government’s Initiative - Angikaar which is an awareness campaign for social behaviour change, water & energy conservation, waste management, health, sanitation and hygiene for benefi ciaries of completed houses under PMAY (U) through community mobilisation. We impacted over 40,000 lives across 12 cities through our awareness campaigns.
Through its flagship initiative ‘Sakhiyon ki Baadi’, IIFL Foundation provides quality education to thousands of underprivileged children, with a special focus on the girl child. We have enabled educational development by setting up schools in many districts of South Rajasthan including tribal districts of Rajsamand and Udaipur. During FY2019-20, IIFL Foundation expanded its operations with establishment of 30 new Sakhiyon Ki Baadi centres at Pali District
IIFL Foundation introduced sessions on ‘Self-Defence Training’ for the teachers at our community centres administered by trained professionals. Over 1,000 women and 28,000 younger girls, across nine districts of Rajasthan, were trained in self-defence techniques.
IIFL Foundation conducts learning sessions through mission ‘Chouras’ for children of construction workers who lack access to basic education. Managed by well-trained teachers, Chouras also takes care of the basic nutritional needs of the children. During the year, a health check-up camp was organised at one of the centres, where 92 children underwent health check-ups.
IIFL Foundation’s unique initiative Rathshala helps educate the upcoming generation of the Rebaris – pastoral nomads from the Sirohi district. With two Rathshalas in operation, overall more than 200 families have been benefited through this novel initiative.
The Company promoted awareness on ‘Child Rights’ through interesting interactive programs such as Baal Samvaad (a dialogue) & Nukkad Natak (skit)
IIFL Foundation organised a dental checkup camp offering free consultation to the community members. It also organised a Blood Donation Drive in Mumbai, Nasik, Aurangabad and Nagpur, which witnessed good participation from the employees.