Adi Chitragupta Finance Limited (ACFL) is a NBFC-MFI (Non-Banking Finance Company – Micro Finance Institution), based in the state of Bihar, with its head quarter at Patna, the state capital. ACFL has received its Certificate of Registration (COR) to work as NBFC-MFI from Reserve Bank of India on 24th April 2017. ACFL is the first NBFC-MFI from Bihar to get a COR from RBI, Patna.

ACFL is formed with a focus on providing microfinance services to urban and rural poor, as well as micro and small businesspersons, in the under-served geographies of Northern & Eastern India, starting with Bihar. The geographic regions to be served by ACFL are amongst the poorest in India and also are grossly underserved by formal financial institutions.

ACFL is being conceived as a strong value-based and systems-driven company with a high level of customer focus, strong corporate governance and sound ethical practices. It is being proposed to bring organized financial services to a large number of poor clients who otherwise would not have access to credit and other financial services from any institutional agency.

Serving the unbanked: With strategic focus on the most neglected markets, ACFL will work in the most under developed and under privileged areas of India. It proposes to do poverty alleviation through effective microfinance and banking methodologies and suitably modify them for the target clients.

Group Lending Model: In the field of traditional microfinance, ACFL will work on lines of the Grameen model which ensures that financing reaches each individual member of the group based on merit. ACFL will work on a robust risk control over the loan disbursement process, which is critical for its efficacy. The Grameen model will be suitably modified to a more practical and workable JLG model, considering the local condition.

ACFL will lend to its target clients i.e. poor women through its Loan products. All ACFL clients will go through the life cycle of the loan process.

ACFL signifies and envisions that the economically poor would be capacitated to enable them bring about the economic well-being of their family by themselves. ACFL strives to reach to needy and poorest of poor women and provide them a platform to help them reach the state of better economic condition and enhance their quality of life and social status both in the family and society. It has been founded by Mr. R. K. Sinha, M.P., (Rajya Sabha), noted philanthropist, founder of SIS Group and Mr. Gyan Mohan, a veteran Banker of over 30 years’ experience,as a social enterprise.

ACFL will be run by a team of professionals who are well- aware with the asymmetry existing between formal and informal sources of credit and disadvantaged group of society that requires financial resources. The team also has deep understanding of the social nuances and geographies of the areaof operation.

Micro-finance is an effective tool which could help bridge the yawning gap and the asymmetry. ACFL will focus on economically poor women as credit-worthy customers who lack access to formal institutional entity for their credit requirements.