(Friend of the Groups)
Download Annual Report of 2016 - 17

A saga of an Indian MCI which wants to 
“make a difference” by “doing things differently” 


MYRADA ( a premier NGO of the Country) begins work on sags ( Self-help Affinity Groups) and Credit

MYRADA & NABARD ( National Bank for Agriculture and Rural Development) work together on linking sAg's and credit; conducted several studies
relating to transaction costs of various models of credit delivery in the rural context.


NABARD gives an R & D grant of Rupees one million to MYRADA to pilot the sAg concept of Banking with the Poor


RBI announces formal recognition of "Group" as lendable entity


NABARD issues guidelines to Banking industry to view sAg as a strategy for Banking with the Poor

1993 - 98

MYRADA continues to formalize sAg / Credit activities, and linking program with the formal Banking System - Particularly with the Regional Rural Banks.


Idea for Sanghamithra as a Financial Institution for sAg linkage originated. (because of the inability - unwillingness (? ) - of the formal Banking System to reach out adequately to the Poor for somewhat valid and not-so-valid reasons). It was incorporated on February 15, 1995 as a Sec 25 Company, with liability of its Members limited by guarantee.

It was conceived to be
-Functioning as a Not-for-profit Organisation;  
-Working with the formal Financial Institutions and  
-Providing a template for others to follow  
1995 - 99

The new entity could not be operationalised owing to its desire to comply with all the statutory and regulatory provisions governing the operations of such non- banking financial entities before commencing its formal operations, towards which purpose it continued to do detailed and diligent preparatory work


Sanghamithra signs an MoU with Canadian International Development Agency (CIDA)/ Developpement International Desjardins(DID) (the programme implementing & monitoring agency for CIDA) for funding its rural initiative with an initial contribution of CAD one million.

2000: Jan

RBI announces a new policy initiative exempting those companies

- Incorporated under Section 25 of the Indian Companies' Act, 1956,
- Engage exclusively in micro - finance business and
- Undertake not to accept public deposits

from having to get licensed under Sec 45 of the Reserve Bank of India Act.

2000 March

Sanghamithra is operationlised and the first loan of Rs. 10,000 given to an sAg in Chitradurga District in the State of Karnataka.

2000 Aug

Ms Rohini Nilekani, a philanthropic business woman of Bangalore, funds the Urban Programme unit with a grant for working exclusively with the urban poor - particularly in the slum areas in the Bangalore City Agglomeration Area.

2000 Oct

The first loan cheque is handed over to an urban sAg sponsored by Association for Promoting Social Action (APSA) - a partner SHPI, ( Self Help Groups Promoting Institution) in a Bangalore slum.


612, 1 C Main Road,
Domlur Layout 
Ph.No : 91-80-25350301
Fax No: 91-80-25354708