www.rangde.org is a pioneering social initiative which allows urban Indians to become bankers to low-income households in India. In simple terms, it allows people to use our digital platform to fulfil loan requests of borrowers at a fraction of the rates charged by the moneylenders. Since January 2008, we have disbursed more than 50,000 loans worth over Rs. 26 crores across 17 states and our repayment rate stands at 93%.
We are now embarking on a journey to expand our operations by including the remote and neglected corners of the country through a concerted and adaptive financial literacy project. Our aim is to ensure that people are provided with information and equipped with requisite skills to make informed financial choices. This initiative will make it possible for low-income communities to apply for and receive low-cost loans at their doorstep, on their own terms, with dignity and self-respect.