Non-banking financial companies are an integral part of the Indian Financial system. The NBFC sector in India has undergone significant over the past few years. This sector plays a strategic important role in poverty alleviation. Microfinance institutes are the robust pillars of progress, economic growth, and development of the economy. In developing countries like India, Women-centric microfinance institutions are playing a critical role in empowering Women. Over the years, Microfinance institutions have helped nation to achieve the objective of financial inclusion.
With a social vision to reach out an underprivileged segment of society, especially women between the age group eighteen to fifty-five, Nightingale Finvest Private Limited (NFPL) offers microcredit services to transform the lives their lives. The company is dedicatedly providing its services to the sixteen districts of the Assam, Meghalaya, Mizoram, and Arunachal Pradesh. Nightingale has 37 branches in 13 districts of Assam and 1 branch in Meghalaya, Mizoram, and Arunachal Pradesh as on date.
Successful Journey over the Years
The journey of the nightingale started seventeen years back when Nightingale Charitable Society was formed on Gandhi Jayanti Day, 2nd October 1997 at Guwahati. With a vision to conduct various social activities in a rural area, Nightingale is registered under the Societies Act in the year 1998.To change the economic conditions of the poor, the society started its micro-finance activities by availing fund from financial institutes and banks to generate income activities for the underprivileged. We believe that we have earned full faith of the poorest class of the society to whom we are associating like a catalyst for their upliftment and for that we can console ourselves that our organization has contributed something to the society which directly reflects our success. Today, the Company is working with experienced and knowledgeable professionals with vast experience and complementary skill set in the financing of MSMEs, and other similar product since we believe with the eternal philosophy that the success of any institution requires competency standards on the part of its staff . The history & track record of management is critical for the growth and sustainability of microfinance institution. We have taken our strategy to go more and more unbanked areas to serve the under preveleiged section of the society as commited to our mission.
An Ingenious Leader of Nightingale
Mantu Nath Sarma is the Managing Director and CEO of the company. Under his leadership, the company continues to provide micro-credit activities to the underprivileged section of the society. He is a post graduate in Commerce possessing over 17 years of experience in the field of promotion and financing of MSMEs, Microfinance, and Financial Structuring. “Without upgrading the economic condition of poor and low-income group of the society, there will not be any change of lives and living standard of poor and low-income group of the society and also generate employment to unemployed”, Says Mantu.
He is instrumental in spreading the outreach of microcredit wing of Nightingale Charitable Society with the consistent growth in business. To change the economic conditions of the poor, Mantu has raised fund from various financial institutions and banks for generating income activities for low-income households. His ethics helps him to make a good relationship with officials of the banks and financial institutes. This help in raising fund from numerous financial institutes and banks. He has been monitoring the activities and complied with guidelines of regulatory authorities.
Making a Mark
On account of his ability and knowledge, the Managing Director of the company was nominated by SIDBI for undergoing training on Strategic Response to Risk in Microfinance Markets at Boulder Institute of Microfinance at Washington DC . The activities of Nightingale Charitable Society were acknowledged by the North Eastern Development Finance Corporation Ltd.
The society is awarded with a certificate of excellence in 2010 excellence in Enterprise creation and contribution to the growth of the economy in the N.E Region. The company has bagged award as the best microcredit finance company in Assam. The company also awarded as Best NBFC in North Eastern Region by MSME Banking Excellence Award. In this connection the Government of India, Department of Home Affairs telecasted a documentary in Doordarshan Titled # Purbottar ke Sitare # (Star of the Northeast) for half an hour highlighting all our activities for the society in the northeast as a mark of their recognition.
Making the world a better place to live-in
Nightingale is also engaged in Social activities like health check-up camps, cleanliness programs, AIDs awareness, benefits of forestry, etc. The microcredit activities of the Company have extended to un-served areas where other MFIs are not assessed to the areas. The company is providing services to areas where banks or other MFIs are not adequate to provide financial support.
Nightingale is successful in transforming the lives of many unprivileged people. The company is dedicated to raise the income of poor people and uplift their financial condition. The company has inspired many poor people to become an entrepreneur by providing financial assistance, necessary training and continuous counseling by our dedicated staff members.
The Road Ahead
Progressing forward with a positive approach, the company’s aim is to provide microcredit to 1 million families by the end of 2025. The company is also expanding its activities to entire states of N.E Region. The company is implementing the technology of m-pose company spice money for cashless transaction. Nightingale will continue to deliver best in class microcredit services to underprivileged in the future since it is a tool for economic growth and poverty alleviation.
Nightingale: Transforming the Lives of Underprivileged
