Midland Group, a Punjab based group, has ventured into Microfinance segment through a formal Micro Finance Institution (MFI) www.midlandmicrofin.com . The group is engaged
in Asset Finance Business
for the last more than 30 years.
Presently the group includes five Profit making Asset Finance Companies registered with RBI. The group having established credibility in Banking and Finance in Punjab State through its various prestigious ventures, like Capital Local Area Bank Ltd. (www.capitalbank.co.in) which is the largest local area bank in the country with business of approx. 1000
crores and are one of the leading
real estate developers known for creating ‘Landmarks’ now plan to expand and invest in a more socially responsible institution geared towards poverty alleviation offering an attractive risk-return profile at the same time.
Vision
To be a world class, role model, techno savvy international Micro Finance Institution providing support to poverty stricken at low cost.
Mission
To encourage micro enterprise as source of sustainable livelihood, with special emphasis on woman by providing large scale access to financial services with the help of technology. To work for financial and social empowerment of women. To spread the outreach on the domestic grounds to the poorest of the poor by 2014 and then to extend the services to nearby countries from 2015 onwards.
Area of Operation
The Area of Operation for the first phase for the project to be entire Punjab and neighbouring areas of Himachal, Haryana, J&K, Rajasthan, Delhi and Uttarakhand. Thereafter it is proposed to be expanded to entire India and nearby countries.
Branch Network
It has been planned to open 12 branches in the first calendar year, 50 branches in the second year, 100 branches in the third year, 300 branches in the fourth year which would increase to 700 branches by the end of the fifth year. During financial year 2010-11, the company has planned to open 4 branches and subsequently open 8 branches in first quarter of financial year 2011-2012.
