The Executive Chairman Of The Company Has 23 To 24 Years Of Progressive Management Experience In The Finance Field. He Has Been Associated With The Company Since Inception As A Promoter & Responsible For The Overall Working Of The Company And Is Instrumental In Making Strategic Decisions For The Company & His Strategic Direction Leads To Achieve SBI Excellence Award In 2010. He Is An Expert In Assessing Problem Situations To Identify Causes, Gather And Process Relevant Information, Generate Possible Solutions, And Make Recommendations And Resolve The Problem.
JLG Loan - Joint Liability Group is a group of 5-20 people (Women) of the same village or locality of homogenous nature and of the same socioeconomic background who mutually come together to form a group for the purpose of availing loan without any collateral.
A bank/NBFC can finance a JLG in two ways, either financing to a group directly or to an individual in the group. In both cases, all members of a JLG are responsible for repaying the loan amount. JLG serves as an important tool for augmenting flow of credit to landless farmers cultivating land as tenant farmers, oral lessees, share croppers and small/marginal farmers and other poor individuals for taking up farm, off farm and non-farm activities.
Our Individual Micro Loans help integrate the underserved and unserved segments with our loan services. These loans are designed to provide solutions to the underprivileged who don’t have access to formal credit so that the to meet your diverse needs.
Our objective is to boost their efforts to gain financial independence and help them fulfil all their aspirations. We truly believe that their dream is our dream and their goal is ours and the fulfilment of their aspirations is our motivation to excel.
Chairman cum Managing Director B.Sc, M.C.A
The Executive Chairman of the Company has 23 to 24 years of progressive management experience in the finance field. He has been associated with the Company since inception as a promoter & responsible for the overall working of the Company and is instrumental in making strategic decisions for the Company & his strategic direction leads to achieve SBI excellence award in 2010. He is an expert in assessing problem situations to identify causes, gather and process relevant information, generate possible solutions, and make recommendations and resolve the problem.
A NFBC that started in the magnificent land of Rajasthan, Jaipur in 1995 with a sole mission to empower rural Indian minds with a range of financial services is today one of the leading providers of MFI Loans in the state with over 200 branches and more than 2100 employees working every day to enable the rural population to succeed and grow, we are striving to make a change in the society.
Having focused to serve the underprivileged who live in remote villages and who don’t have access to formal credit, Digamber Finance choose to lend a helping hand to ambitious entrepreneurs who aspire to achieve big in life.
Today with a strong presence in 9 states and over 90 districts, and giving smiles to over 1 million happy faces Digamber Finance offers a wide range of microfinance solutions like agricultural loans, small business loans, dairy farm loans etc.
We are a customer-centric organization and take every step to understand the customer and act on that understanding. This is proved by the fact that we were the first NBFC in the industry to opt for 100% digital disbursement in 2014.
The technological integration across the board has helped us reduce the overall turnaround time (TAT), provide real-time analytical data, enhance productivity, and help improve monitoring and control, in addition to other benefits.
From the past to the present, Digamber Finance commits to being socially responsible and focusing on health, education, financial literacy, gender equality, and the Swachh Bharat Mission. Apart from this, the organization actively participates in spreading social awareness in its operational areas.
Digamber Finance believes that its employees are the connecting forces between institutions and the people who are underserved by traditional banks without whom the company's vision cannot be fulfilled. Our emphasis is on the personal and professional development of our team members so that they never stop learning and growing in their roles.
"Empower the no credit access poor with financial support at an affordable cost and in a transparent manner while achieving acceptable returns on our investments."
Access to financial institutions, including credit and all the opportunities it offers, is necessary for rural India. They require options within those systems so they can manage their finances in accordance with their needs, wants, and obligations. We want to make financial freedom a human right and encourage rural India to control their finances and be active participants in their own financial life.
We strive to be a responsible and a reliable financial partner in our quest to accomplish our vision.
At Digamber Finance, we are open, fair, and transparent in our interactions with our customers and promoters, and we provide relevant information at all times. We also protect the confidentiality of our business information and exercise discretion when sharing information with others.
All our customers and employees, irrespective of their region, religion, caste, or relationship with our existing customers, employees, or any other, are treated equally at Digamber Finance. We believe that our practice encourages diversity, freedom of choice, and expression for our staff and consumers.
Digamber Finance is proud to do its business with dignity and diligence, providing the best financial solutions to our customers, promoters, and employees in all transparency and accordance with all existing rules and regulations. At Digamber Finance, we follow a rigorous code of conduct and these core values are at the heart of every decision we make.
Chairman cum Managing Director
The Executive Chairman and Founder of Digamber Finance, Mr. Rajiv Jain, has around 30 years of progressive managerial experience in the financial industry. Since the company's establishment, he has been a promoter and is in charge of its overall operation. He plays a key role in the company's strategic decision-making, and it is his strategic guidance that the company won the SBI Excellence Award in 2010. An expert in analysing problematic situations, he is always filled with positivity, enthusiasm, zeal, compassion and pragmatism. His great leadership skills and clear vision has aided the business to grow leaps and bounds.
Whole Time Director cum CFO
Mr. Amit Jain, a co-founder of the business, has 30 years of experience in retail finance. His capacity for adaptability, versatility, and tolerance in a changing work environment while preserving effectiveness and efficiency has been a key factor in the organisation's success.
To accomplish the objectives of the organisation, he primarily builds and maintains strong working connections with all the stakeholders. Additionally, his curiosity and enthusiasm for using new technology propel the business towards digitalization and makes it stand out from the competition. He participates actively in MIFOS projects (USA) and also serves as an advisor to the development of the RuPie app, "a brand of Wepact Technologies Pvt Ltd," which will help MIFOS produce world-class portfolio management software.
Mr. Nayan Ambali is the CEO and Founder at Finflux. Before Finflux, he was a co-founder at RuPie. RuPie was a branchless micro-finance institute, offering loans to urban semi-skilled workers and small business owners.
Prior to joining Intuit, Nayan served as the key product lead for the knowledge portal at Ogilvy & Mather and was in charge of developing Truffles, a knowledge management portal and blogging platform for all of the company's knowledge.
Nayan has over 2 decades of total experience and his areas of focus and experience is banking, lending, financial inclusion, strategy, general management, business operations, product development, and product marketing,
Mr. Jatin Chhabra, a non-executive director of the organisation, is a 41-year-old project manager now employed by a healthcare sansthan. His primary activity is the installation of various plants, such as solar defluoridation and RO plants, in diverse regions, making him an expert in the analysis of rural and semi-rural areas. He actively participates in creating the company's strategic plan and vision for supporting water and sanitation.
Mr. Shashank holds a B.Com degree from University of Rajasthan, Jaipur and PGDBA (Finance) from Institute for Technology and Management, Bangalore.
He has around 2 decades of professional experience. Prior to joining SIDBI in the year 2008, he has also worked with DBS Bank Ltd, New Delhi. Presently, he is posted in Mumbai office of SIDBI, taking care of NBFC cases sourcing, sanction, disbursements etc. He had earlier set up a new Branch and headed the same at SIDBI, Mehsana. He holds expertise in the field of MSME lending and large corporate lending.
Presently he works as Assistant General Manager in SIDBI.
A B.Com expert with an engineering background; a gold medalist in law with extensive experience working with banks in high-profile top management positions. With 40+ years of experience and a specialisation in finance and credit, Mr. Jain is analytical, proactive and resourceful asset to the board.
Effective communication and negotiation skills, as well as strategic planning abilities, has enabled him to deliver satisfactory results for both customers and the institutions where he has worked in solo positions or as part of a team, allowing him to build a proven track record. He has experience in a variety of banking functions. He is responsible for bringing objectivity to the board's oversight function and improving its effectiveness.
Ms. Amita Gill holds M.Sc, M.Phil, Ph.D in Higher Energy Physics, University of Rajasthan, Jaipur.
She began working for the government in 1981. She worked for the GoR (Government of Rajasthan) in various capacities, including Project Officer (PO), Project Director (PD), Officer on Special Duty (OSD), and Director, Special Secretary to the Government of Rajasthan. In February 2017, she retired as Principal from Pandit Nawalkishore Sharma Govt. PG College, Dausa.
She also received the highest state award for outstanding service on January 26th, 2013.
She dealt with major areas such as research and development, science communication and popularisation, entrepreneurship development, remote sensing, technology transfer, and intellectual property rights during her tenure at the Department of Science and Technology.
She has provided technical and financial support to various projects for the socio economic upliftment of rural areas, including assistance to self-help groups of women, such as training for vermicomposting, spirulina production, cut flower cultivation technology, and so on.
She has extensive experience in science and technology, as well as analysis of rural and semi-rural areas.
Mr. Virendra Kumar Bhargaw holds a bachelor’s degree in commerce. He has been with the company since 2012 and has over 16 years of work experience. He is responsible for all business operations. Regular updating and timely implementation of operational policies according to market scenarios and business needs is his core activity. He has more than a decade of experience in the microfinance sector.
Mr. Dharmendra Kumar Jangid holds a master’s degree in commerce. He is responsible for the overall management of the company and also oversees MIS and Treasury matters. In addition to the same, he also plays a vital role in formulating strategies related to the company's business operations and IT implementation. He has data and technology acumen and is responsible for business development and profitable collections. He has over 10 years of experience in the microfinance sector.
Senior Zonal Head
Mr. Pawan Sharma holds a master’s degree in marketing. He is responsible for laying down all plans and strategies for developing business and achieving the company's sales goals. He is in charge of the smooth functioning of all the branches in Northern parts of India. He has around 12 years of experience in Banking & Finance Industry.
Prior to this, he was Cluster Head in Adarsh Credit Co-operative Society.
Mr. Vivek Yadav holds a bachelor’s degree in arts. With more than 16 years of work experience, he is responsible for laying down plans and implementing strategic sales plans that helps the company to expand its customer base and ensure its strong presence. He is in charge of the smooth functioning of all the branches across Central & Western parts of India.
He has also worked with companies like SKS Microfinance and Fullerton India Credit Company Limited.
Assistant Head - Accounts
Mr. Naman Mehta is a qualified Chartered Accountant and is pursuing diploma in IFRS from ACCA UK (United Kingdom). He holds expertise in the domain of Accounts, Audit and Taxation and holds more than 6 years of post-qualification experience in these domains. He is responsible for preparation of accounting and financial data along with overseeing taxation related issues. He also plays an active role in vendor management and Digitization & Process Enhancements for the company.
He had previously worked with MNCs like Ernst & Young and Mazars.
Assistant Head - Finance
Mr. Shashank Y Kumar is a qualified Chartered Accountant and is pursuing diploma in IFRS from ACCA UK (United Kingdom). He has more than 5 years of post-qualification experience and is responsible for overseeing the financial activities of a company, ensuring accuracy and smooth workflow. He acts as a point of communication for lenders and investors on behalf of the company.
Assistant Head – Branch Audit
Mr. Srikant Bohara holds a post graduate degree in commerce along with a LLB degree. He currently leads the company's internal audit function with a detailed approach that enables cost efficiency and operational excellence.
Prior to this, he has worked with Priyanka Group and Tata Group.
Assistant Head - Credit
Ms. Preeti Verma holds a bachelor’s degree in arts. She has been associated with Digamber Finance since 2014 and holds expertise in the credit Underwriting & Administration. She is responsible for complete underwriting, risk assessment & policy design and has more than 10 years of experience in Credit Underwriting.
She has previously worked with Fullerton India Credit Company Limited
Ms. Neha Agarwal, a qualified Company Secretary, has been associated with the company since 2014. She is in-charge of the overall statutory compliances and her core activities include liasioning with various authorities as well as lenders on all compliance related matters.
Senior Manager - HR
Ms. Kamini plays a vital role in developing and implementing HR policies, procedures, and initiatives. She is responsible for overseeing the day-to-day operations of the company’s HR department. She ensures regular formulation of training programs to ensure the learning and development of employees is supported and long term succession planning is achieved.
Manager - MIS
Mr. Jugal Jangid holds a post graduate degree in commerce. He has been associated with the company since 2014 and is an integral part of the MIS team. He oversees the day-to-day operations of the organization's information systems and above all plans and leads all MIS operations, technology, and services.
Digamber Finance has always believed that the right to financial freedom is not only a human right but also a right to justice for everyone, regardless of who they are or where they live.
Digamber Finance upholds the core values and mission to create new opportunities among strapped individuals in rural and semi-rural India because they are part of the unaccounted millions who contribute to the Indian economy through unorganised sectors.
Our mission is to defy conventional wisdom and establish a scalable, long-lasting, and profitable business that contributes to India's transformation. Scalability, Strength, and Source are the pillars that support every Digamber Finance product designed to empower individuals from every corner of India who wishes to start a small business, expand their existing business, and live a meaningful life.
We understand that scalability in the microfinance business is not possible without technology. We focus on bringing together the best industry practices, cutting-edge technologies, and time-and resource-saving strategies and even use artificial intelligence as our technology in the coming future.
We also understand that our strength lies in our experienced employees from different fields - our human capital strengthens our mission to empower change.
Every positive transformation needs a positive mindset, and our investors are the driving force behind the firm's solid fundamentals. They are also our source and help us build a strong cultural practice of a people-first approach and providing loans on the best terms.
We at Digamber Finance warmly welcome you to India's transformational journey.
Key Financial Highlights as on 31st Dec 2022
Gross AUM (INR Millions)
Joint Liability Group (JLG) is an informal group comprising preferably of 5 to 20 individuals for the purposes of availing loan either individually or through the group mechanism against mutual guarantee.
Individual Micro Loans (IML) are purpose-based loans, which are facilitated to individuals to start new business or for expansion of existing business.
Sushila Devi, a resident of Bangaon, Fatehabad. His husband is a crop trader and because of the slowdown in business, his income was not sufficient enough to make a respectful living. Sushila ji sensed the need to support him financially and thus started her journey with Digamber Finance.
She started her tailoring business with a loan amount of INR 20,000/- and parallelly started selling clothes also. Today, she receives full support from her husband and together they are yielding the profit of their hard work and determination.
Digamber Finance is glad to be part of their transformational journey.
-Small Loan Big Dreams-
"If you don't take a step forward, you'll always be at the same place" and our customer Kavita Devi from Modipuram, Meerut who decided to keep progressing in life is inspiring many women in her village. She has been associated with Digamber Finance for almost 2 years and now is an owner of a grocery shop established by herself in order to become self-reliant and to support her family.
She always believes that she has been able to grow her business only because of the financial support that she got from Digamber Finance and this helped her quadruple her business.
We are happy to have played a role in her journey to independence.
-Small Loan Big Dreams-
I express my gratitude to Digamber Finance for guiding me towards the right direction to earn a sustainable livelihood.
My name is Kulian Bala from Hoshiarpur, Punjab. I was looking for small capital to expand my business of selling milk but due to no collateral free loan options and lots of paperwork, I decided to put my dreams on hold.
That is when I came to know about Digamber Finance. Upon gathering sufficient & satisfactory information, I had decided to go ahead with them. The whole process was very seamless and I got all the loan related services at my doorstep. I am happy with the way my business is growing.
We wish Kulian Bala success in all her future endeavours.
-Small Loan Big Dreams-
Saroj Devi lives in a small village in Khatu Shyamji, Sikar. Post pandemic, her husband lost his job because of which it became difficult to meet the daily needs.
Saroj Devi came across a group of people in her neighbourhood from where she came to know about JLG Loan from Digamber Finance. She later approached a loan officer from Digamber Finance who explained her the whole JLG loan process. Saroj Devi along with her other acquaintances formed a group and started a business of selling suits and sarees.
Today the complete group earns a respectful earning and are able to contribute to their household income. Saroj Devi is optimistic and hopes to have a stable and better future.
-Small Loan Big Dreams-
Khatu Shyamji, Sikar
This is an inspiring story of one of our customers who had the courage to move out of her comfort zone. Meet Usha Devi Ji who has been living in Govati, Sikar with her family.
As her kids started growing up, it became difficult to meet the family expenses just with her husband’s income. Usha wanted to contribute to the household income but lacked funds to start any business. This is when she was introduced to Digamber Finance by her neighbours.
She availed a loan of INR 30,000/- and invested in a cosmetic item shop. The result of her efforts can be seen in their improved standard of living.
She believes that Digamber Finance played a pivotal role in her growth journey and agrees that Digamber Finance Sach May Sach Kare Sapne.
-Small Loan Big Dreams-
Meet the key stakeholders who enable us to empower rural India with the finest and most innovative financial solutions. They play a key role in growing our business because it is their trust and loyalty that supports the development and financial strength of Digamber Finance over the long term.