Virutcham Micro Finance is one of the fastest growing NBFC in Tamil Nadu. JMR Group has invested in equities of Virutcham MF Ltd.
Having gained considerable experience in working with the poor and marginalized, a group of likeminded professionals promoted Virutcham Microfinance. It is a Limited Company registered under Indian Companies Act of 1956 and obtained a certificate of incorporation on the 8th July 2008 from the Assistant Registrar of Companies, Tamil Nadu. It obtained a certificate of registration from Reserve Bank of India on 03-08-2009 Cor- N-07-00779. It is commenced its business 2nd week of August, 2009.
Virutcham has been incorporated as a Non-Banking Finance Company (NBFC) on 8th July, 2008 and converted into Non-Banking Finance Company – Microfinance Industry (NBFC-MFI) on 6th June 2014. Virutcham started its Microfinance operations in November 2008. The highlights of Virutcham’s performance over the ten years of its operations are as under:
* Disbursement of loans worth Rs. 2043.46 Million cumulative as on 31st March 2020
* Over 50,000 poor clients (all women) with a 99.9% on time repayment rate
* Total own portfolio outstanding of Rs. 608.15 million, as at 31st March 2020 (Rs. 516.70 million, as at 31st March 2019).
* Funding with promoter’s capital and others Rs. 85.43 million, and borrowings outstanding of Rs. 451.46 million from Banks and other lending institutions as of 31st March 2020.
* Break-even within the first year of operations, and profitable track record thereafter.
* Robust technology platform for data maintenance and MIS.
No:14, North Mada Road,
Sri Nagar, Saidapet,
Chennai – 600015