About
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Headquarters
Udaipur, Rajasthan
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Since
2007
Shram Sarathi, an offshoot of Aajeevika Bureau, began in 2007 with a mission to aid vulnerable migrant communities. Focused on financial services, it Read morestands as the country's inaugural institution dedicated to supporting migrant workers and their families financially. This effort is part of a broader spectrum of migration support and services offered by the Aajeevika Bureau. With a vision to secure dignified lives for labour-dependent communities, Shram Sarathi's mission revolves around two key objectives. Firstly, it strives to facilitate financial inclusion for these communities, enabling them to enhance incomes, manage finances, and reduce migration costs. Secondly, it aims to establish a sustainable model that bridges financial service providers and migrant populations. Operating via rural and semi-urban branches in underserved areas, Shram Sarathi operates both at the origin and destination points of migration. Its revenue primarily stems from loan interests and fee incomes. Working within Aajeevika Bureau's broader migration support services, Shram Sarathi has crafted tailored products and channels to meet workers' financial needs within their migration contexts, amalgamating financial and migration support services for their benefit.
Action
Shram Sarathi provides a range of financial services including micro loans, insurance, assistance in opening bank accounts, pension and savings advice, as well as financial literacy programs to migrant communities.
Demographies Served
Cause Area
Impact
Shram Sarathi has delivered financial services to over 20,000 migrant families, with over 60,000 beneficiaries of financial literacy programmes, disbursed INR 25 crore as loans with repayment rates of over 95%, and enrolled nearly 8,500 workers in contributory old age pension and insurance services.
Vision & Mission
Shram Sarathi's vision is to become a leading agency working towards ensuring secure, dignified lives of communities dependent on migration and labour. Its mission is to enable financial inclusion of these communities through financial services, helping them increase incomes, manage cash flows, and reduce migration costs.
Programs
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Financial Inclusion Programme
Shram Sarathi focuses on addressing the financial challenges of seasonal migrant workers in India, a group comprising over 150 million individuals engaged in unskilled labour across various industries. These workers face exclusion from formal financial services due to low incomes, risky jobs, and their constant movement between villages and cities. Lack of access to basic banking services, affordable credit, and social security leaves them vulnerable. To combat this, Shram Sarathi provides a range of tailored financial services, including affordable loans for income diversification, agricultural improvement, and asset creation. Additionally, it offers insurance, old age pensions, micro-investment programmes, emergency grants, financial literacy clinics, fraud mediation, and counselling to alleviate over-indebtedness, aiming to empower and support these marginalized communities.
Milestones & Track Record
Shram Sarathi was a Top 5 Finalist for The Hindu Businessline Financial Changemakers Award in 2019 and the Winner of the CGAP Customer Centricity Challenge in 2018.
Leadership Team
Demographics & Structure
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No. of Employees
21-50
M&E
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Internal, External Assessors
No
Policies
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Ethics and Transparency Policies
No
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Formal CEO Oversight & Compensation Policy
No
Political & Religious Declarations
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On Affiliation if any
No
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On Deployment Bias if any
No
Registration Details
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PAN Card
AADCR7267C
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Registration ID
U91990RJ2007NPL024871
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VO ID / Darpan ID
RJ/2017/0175105
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12A
AADCR7267CE20114
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80G
AADCR7267CF20211
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FCRA
125690109
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CSR Registration Number
Not Available
Location
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Headquarters
39, Krishna Colony, Behind CASA Training Centre, Bedla Road, Udaipur, 313001
Directions
Other Details
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Type & Sub Type
Non-profit
Section 8 (formerly Section 25)
Financial Details
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2018-19
IncomeRs.23,376,024ExpensesRs.21,716,867Admin ExpensesRs.6,336,375Program ExpensesRs.15,380,492Tip: Click on any value above to exclude it. -
2019-20
IncomeRs.35,367,800ExpensesRs.27,149,483Admin ExpensesRs.6,345,107Program ExpensesRs.20,804,376Tip: Click on any value above to exclude it. -
2020-21
IncomeRs.33,055,024ExpensesRs.31,662,097Admin ExpensesRs.8,081,819Program ExpensesRs.23,580,278Tip: Click on any value above to exclude it.