Bharat Financial Inclusion Limited (100% subsidiary of IndusInd Bank Ltd.)

Bharat Financial Inclusion Limited (BFIL), formerly known as SKS Microfinance, is one of India's largest microfinance companies. It was acquired by IndusInd Bank and became a 100% subsidiary in July 2019. The company's core mission is to promote financial inclusion by providing financial services to the unbanked and underbanked populations, with a primary focus on women in rural areas. BFIL operates on a group-lending model, where members of a Joint Liability Group (JLG) co-guarantee each other's loans. In addition to its flagship micro-credit products, BFIL also offers other services like savings and insurance to its members, aiming to foster economic development and empowerment at the grassroots level.