YVU Financial Services Private

YVU Financial Services Private Limited (hereinafter referred to as YVU Financial), a Company within the meaning of The Companies Act, 2013 and and also registered as Non Banking Financial Company - Micro Finance Institution (NBFC-MFI), under Section 45-IA of the Reserved Bank of India Act, 1934, provides microfinance services in the state of Manipur and Assam of India. The company provides micro credit and other financial services to the the people who are otherwise unable to access finance from the mainstream financial system. These people normally resort to borrowing from local money lenders who charge exorbitant rate of interest ranging from 30% to 100% per annum. One of the main objectives of the company is to make finance available to such people at a reasonable rate of interest and in a transparent manner so that the socio-economic conditions of such people improve in a significant manner. The promotor of YVU Financial has been engaging in microfinance programs, livelihood intervention strategies and social development consultancy assignments under Youth Volunteers' Union, a National Award wining organisation. Contemplating the changing environment and an appropriate legal structure for offering microfinance services, the promoters acquired 'Chand Fairdeal Financiers Private Limited' (CFFPL) - an NBFC incorporated on 9th July, 1993 - during 2007-08. Subsequently, in May 2012, CFFPL was renamed YVU Financial Services Private Limited. YVU Financial is unique in term of its lending pattern as the products are well designed keeping in mind the situation and people of the operational area. The company has come to be known to all its stakeholders as a reliable institution, having good governance, high level of transparency and a systematic approach.