Promoting Sustainable
Livelihoods, including for the
Rural Poor and Women

Vision & Mission

— Vision

“Equity for Equity – our efforts to use capital (financial, physical, human, social, natural and intellectual) to work towards bringing of opportunity and social justice to all our fellow beings.

— Mission

To promote a large number of sustainable livelihoods, including for the rural poor and women, through the provision of financial services and technical assistance in an integrated manner.

BASIX will strive to yield a competitive rate of return to its investors so as to be able to access mainstream capital and human resources on a continuous basis

— Strategy

To provide a comprehensive set of livelihood promotion services which include Financial Inclusion Services (FINS), Agricultural / Business Development Services (Ag/BDS), Skill building and Institutional Development Services (IDS) to rural poor households under one umbrella.

BASIX is a livelihood promotion institution established in 1996, working
with over a 3.5 million customers.

Promoters

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Mr. Vijay Mahajan

Vijay Mahajan is a graduate of the Indian Institute of Technology, Delhi (IIT-D), 1970-75, a post-graduate of the Indian Institute of Management, Ahmedabad (IIM-A), 1979-81, and was a mid-career fellow at the Woodrow Wilson School of Public and International Affairs, Princeton University, USA, 1988-89, where he studied economic development policy. Soon after graduating from IIMA in 1981, Vijay started working in the rural development field in Bihar, the poorest state of eastern India. In 1983, he established an NGO, PRADAN which works with over 120,000 poor households, promoting livelihoods and community institutions. In 1996, Vijay set up BASIX as a “new generation livelihood promotion institution”. He co-founded Sa-Dhan in 1998 and MFIN in 2009.

Vijay was a member of the Raghuram Rajan Committee on Financial Sector Reforms, chaired by Prof and also of the Rangarajan Committee on Financial Inclusion. He is a member of the Insurance Regulatory and Development Authority (IRDA) and the Rajasthan Mission on Livelihoods. Chair of the Executive Committee of the Consultative Group to Assist the Poor (CGAP), a global microfinance body. He has co-authored a book “The Forgotten Sector” on the rural non-farm sector and written over 50 articles on rural livelihoods, development, and micro-finance. In 2009, Vijay was selected as one of the 60 “Outstanding Social Entrepreneurs” at the World Economic Forum (WEF), Davos.

Board of Directors

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Director

Mr. Anoop Kaul

Mr. Anoop Kaul, Director a post graduate from the Delhi School of Economics [1971], worked with the State Bank of India for 36 years before joining BASIX in 2007. While in State Bank he held senior level positions in the states of Gujarat, Delhi, West Bengal, Andhra Pradesh and Bank’s Central Office and retired as General Manager. He was on deputation from SBI to the Government of Gujarat, Gandhinagar, as OSD and Dy. Secretary [Projects] in Industries, Mines and Power Department for 4 years. Another 4 years he served as Chief Financial Officer, in SBI Cards, a joint venture of SBI and GE Capital. While working for the Government of Gujarat, he held on their behalf, Director-level positions in Powercell Pvt. Ltd. in Gandhinagar, Gujarat and Central Pulp and Paper Mills in Pune, Maharashtra. In BASIX, as National Head of Financial Inclusion, he led the BASIX Team for the Rajasthan’s Bhamashah Women Empowerment Project in 2008 under which 4.1 million BPL families were enrolled for Banking Inclusion in just 60 days, then a global record. Between 2009 and 2016, he had been overseeing the Common Services Centre Project of BASIX Group which managed 8,000 plus outlets in 6 States of India. He was Director on the Board of BASIX Academy for Building Lifelong Employability Ltd. from 2009 to 2019, as well as on the Board of Basix Municipal Waste Ventures Ltd. [for 3 years]. At present he is on the Board of Bhartiya Samruddhi Investments and Consulting Services Ltd. [holding company of Basix Social Enterprise Group] and Bhartiya Samruddhi Finance Ltd. [an NBFC]. Outside Basix Group he was Director on the Board of Mera Gaon Power, Shamil Milk Products Ltd., MMK Design Advisors Pvt. Ltd. and Vayam Renewable Ltd. as well as founder Member of the Governing Council of CSC Forum and Sahulat Microfinance Society. Currently he is on the Board of Bhagirath Resurgence Ltd., Outreach Logistics Pvt. Ltd. and Aasra Cooperative Credit Society Ltd., Mumbai.

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Director

Mr. Asokkumar Rathnam

Mr Asokkumar Rathnam Joined State Bank of India, the largest Bank in India in 1972 as Probationary Officer. After working as Accountant and Credit Analyst in the beginning, held position of branch manager of a few branches of different sizes. He had long innings in the area of corporate credit as Manager (Commercial & Institutional Division) in a large branch and with stints at Local Head Office and Corporate Office in appraising and monitoring large corporate advances. He had international exposure as Manger (Credit) in one of the branches in USA. He was responsible for planning and development of SSI advances in the State of Orissa as Development Manager (SIB). Opted for voluntary retirement in 1994 when I was AGM in SBI and joined as DGM in the first new generation private Bank. At Axis Bank Part of the team which built the new Bank brick by brick and click by click. As Zonal Manager was responsible for expansion of branch and ATM network and development of business in South India. He was President and Head of Corporate Banking from 2002 to 2006. Till then focus of the Bank was on large and mid- corporates. Led the Bank in its foray into SME and Agriculture market segments and established appropriate systems and procedures. As Executive Director (Corporate Strategy) from 2007 to 2008, was supervising Retail, Agriculture and SME segments, Branch Operations and other support services. After retirement from Axis Bank at the end of 2008 he joined in Sarva Jana Seva Kosh Ltd, got involved with social development organizations promoted by a Gandhian. Was Chairman and Managing Director of the above NBFC from February 2009 till June 2014 and Chairman of the Company from June 2014 till July 2017. The NBFC is engaged in lending to certain community based organizations. He also worked as Chairman and Managing Director of Sarvodaya Nano Finance Ltd from July 2009 to June 2017. He holds MA (Economics), CAIIB and CPA from USA.

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Director

Mr. Durga Prasad Iruku

Mr. Durga Prasad Iruku, He has received his Post-Graduate degree in Economics from one of the most reputed Indian Universities and Diplomas in Management and Marketing Management. Mr. Prasad has 40+ years post-qualification experience in the areas of entrepreneurship development, cluster development, technology facilitation of small and medium enterprises, project appraisal, marketing research, export marketing and industry analysis with leading public sector consulting organizations and export development agencies in India. He has 25 years of proven track record in diagnosing key developmental issues, evolving and implementing market driven strategies for development of microenterprises, MSE clusters. Mr. Prasad worked with Andhra Pradesh Industrial and Technical Consultancy Organization Limited (APITCO) as Chief Consultant and Advisor for 17 years. He is currently engaged with Seamless Consultancy Services (Private) Limited as Director.

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CEO & Managing Director

Mr. Devarakonda Sattaiah

Mr. Devarakonda Sattaiah, Managing Director has over 24 years of experience including a tenure of 20 years with BASIX Group dealing with Microcredit and Micro Insurance Operations with nearly 2 million credit customers, USD 450 million in loans outstanding and over 3.8 million insurance covers. He has got track record of starting and expanding businesses. Managed the Human Resource function for the same company with over 8,000 people in hundreds of locations. Exposed to some of the best management education in the world at Indian Institute of Management (IIM), Ahmedabad and to all round leadership exposure that is unique to the BASIX Group. He comes with strong hold on operations process, mechanism, planning, tools and monitoring and mentoring practice. He served as Head of Human Resources (HR), Insurance Vertical, Chief Operating Officer (COO) and Director Strategic Products in Bhartiya Samruddhi Finance Limited. He comes with strong familiarity with the rural realities, dynamics and customer knowledge. He is a post graduate in Management with a bachelor degree in Maths, Physics and Chemistry from Osmania University, Hyderabad. He is the designated as Managing Director of Bhartiya Samruddhi Investments and Consulting Services Limited.

Group Reach

Institutional Development Service (IDS)

601

#FPOs Formed

3,43,888

Vocational Trainings
(No. of Persons Trained)

10,08,820

Solid Waste Management (House Holds)

12.77 lakh tons

Solid Waste Collection

Agricultural, Livestock & Enterprise Development Services (AGLEDS)

15,02,937

AGLED Services(Crop and Livestock)

2,50,000

AGLED Services(Non-farm Enterprise Development)

Inclusive Financial Services (IFS)

52,68,503

Credit Customers

95,55,949

Insurance Customers

17,80,574

Savings (Bank Accounts Opened)

11,06,243

Money Transfers (Remittance Customers)
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