Ujjivan Financial Services has recorded robust collection rate of 91% in November 2016, even when the cash dominated microfinance sector was reeling under the stress of demonetization. The company disbursed loans worth Rs 553 crore in November out of which 65% was in cash and 35% was cashless.
Ujjivan Financial Services, a leading microfinance institution (MFI), started operations in Bengaluru in 2005 and serves over 34.81 lakh active customers through 469 branches and 8,880 employees spread across 209 districts and 24 states in India.