CreditAccess Grameen

What CreditAccess Grameen does

CreditAccess Grameen Limited, founded in 1999 in Karnataka and listed on the BSE/NSE in August 2018, is India's largest non-banking financial company – micro finance institution (NBFC-MFI). The company extends microcredit and adjacent retail-finance products to 4.4+ million predominantly women borrowers across 451 districts through a network of 2,236 branches, employing 21,941+ people. It is majority-owned (66.28%) by Netherlands-based holding company CreditAccess India BV, which initiated a stake-sale process in 2026 with Axis Bank and HDFC Bank reportedly among interested acquirers.

Operations are organized across three interconnected lending units. Group Lending delivers the core microfinance products — Income Generation, Home Improvement, Family Welfare, and Emergency loans — through joint-liability borrower groups meeting at village-level centers. Retail Finance offers graduated individual products (Grameen Vikas, Grameen Savaari two-wheeler, Unnati, Housing and Vishesh loans) targeting 6-8% of MFI customers who graduate each year. Digital Lending layers in mobile-channel products (Grameen Mahi app, Digital Individual Loan, Pragathi Digital Loan) and is being digitized operationally through a Siemens Mendix low-code partnership. The company also distributes third-party insurance, NPS pension and savings products through its branch footprint.

Revenue is generated almost entirely from interest on loans, with FY26 (year ended March 2026) reported sales of Rs 6,058.92 crore (~USD 730 million) and net profit of Rs 777.64 crore, a 46.34% year-on-year increase. Q4 FY26 weighted-average lending rate was 22.76%. Funding is sourced from a diversified mix of domestic NCDs (Rs 990 crore raised in September 2023), bank lines and development finance institutions (DFC, DEG, IFC, Swedfund, BlueOrchard, WaterEquity), and foreign-currency ECB facilities — most recently a USD 75 million HSBC-arranged syndicated social loan (March 2026) co-funded by Doha Bank, State Bank Mauritius, Bank of China and NDB Sri Lanka, taking FY26 foreign commitments above USD 300 million. Asset quality has recovered, with PAR 0+ at 3% (down from 4.4%), gross NPA at 3.2% and collection efficiency at 99.84%, against 87%+ client retention and a 20-25% AUM growth target for FY27.

Name

CreditAccess Grameen

Legal name

CreditAccess Grameen Limited

Website

https://creditaccessgrameen.in

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

CreditAccess Grameen is India's largest NBFC-MFI, providing group microfinance, retail finance, and digital loans to more than 4.4 million women borrowers across 451 districts through a 2,236-branch rural distribution network.

Ownership category

akta.pro rank

Product category

Microfinance Services

NAICS

Nondepository Credit Intermediation (5222)

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)

akta.pro primary industry

Microloans & Working Capital Loans (FSAKAGAA)

akta.pro secondary industries

Microenterprise Group Lending (Joint Liability) (FSAKAGAH), Microfinance, Financial Inclusion & Inclusive Markets (BPAGABAM)

Keywords

• Microfinance lending
• Group lending products
• Rural financial services
• Women microfinance loans
• Retail finance products

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Microfinance Interest Income: Core revenue from interest charged on microfinance group loans (Income Generation Loans, Home Improvement Loans, Family Welfare Loans, Emergency Loans) extended to women borrowers in rural areas. Interest income constitutes the primary revenue stream.
2. Retail Finance Interest Income: Interest income from secured retail lending products including Grameen Vikas Loans, Two-Wheeler Loans (Grameen Savaari), Unnati Loans, Housing Loans, and Vishesh Loans targeting existing MFI customers graduating to larger loans
3. Digital Lending Fees: Processing fees and interest from digital individual loans offered through mobile and digital channels

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

CreditAccess Grameen is India's largest NBFC-MFI providing microfinance group loans (Income Generation, Home Improvement, Family Welfare, Emergency loans) to women from rural low-income households through joint liability groups. It also offers individual retail finance products (Vikas, Two-Wheeler/Savaari, Unnati, Housing, Vishesh loans), digital lending products through the Grameen Mahi mobile app, and distributes third-party insurance, pension, and savings products. The company operates through 2,236 branches across 451 districts in India serving 4.4 million customers with USD 3.12+ billion AUM.

Product overview

CreditAccess Grameen operates as a unified microfinance platform with three interconnected lending units: (1) Group Lending (Microfinance) offering Income Generation, Home Improvement, Family Welfare, and Emergency loans to women in rural areas through joint liability groups; (2) Retail Finance providing individual loans including Grameen Vikas, Two-Wheeler (Savaari), Unnati, Housing, and Vishesh loans for micro-enterprise and livelihood growth; and (3) Digital Lending featuring mobile app (Grameen Mahi), Digital Individual, Pragathi Digital, and Multi-Purpose loans. The company also distributes third-party insurance, pension, and savings products (Grameen Suraksha, Life Insurance, NPS Swavalamban, Grameen Sanchay) through its branch network.

Differentiator

Problem solved

Functional benefit

Brands

• Grameen Koota: Primary brand name for microfinance group lending operations, serving women borrowers in rural India
• Grameen Vikas
• Jagruti
• Grameen Mahi
• CA India Foundation

Products and services

• Income Generation Loan Microfinance group lending product providing credit to women entrepreneurs for income-generating business activities, extended through joint liability group methodology at village-level center meetings.
• Home Improvement Loan Microfinance group lending product for home improvement and housing-related expenses for low-income rural households, distributed through the branch network.
• Family Welfare Loan Microfinance group lending product addressing family welfare needs including healthcare, education, and other household expenses for women borrowers.
• Emergency Loan Microfinance group lending product providing quick access to credit for emergency situations faced by women borrowers in rural areas.
• Grameen Vikas Loan Individual retail loan product for micro-enterprise development and business growth purposes, targeting existing MFI customers graduating to larger individual loans.
• Grameen Two-Wheeler Loan (Grameen Savaari) Retail loan product enabling borrowers to purchase two-wheelers for personal and business transportation needs, distributed through the company's branch network.
• Unnati Loan Individual retail loan product for livelihood advancement and income generation activities, targeting graduating MFI customers.
• Grameen Housing Loan Affordable housing loan product for low-income households in rural areas, extending secured housing finance beyond traditional microfinance.
• Grameen Vishesh Loan Specialized retail loan product addressing specific borrower needs beyond standard microfinance and retail finance offerings.
• Grameen Mahi (Customer App) Mobile application for customers to access digital lending services, view account information, manage loans, and make repayments.
• Digital Individual Loan Digital lending product providing individual loans through online channels to existing microfinance customers.
• Pragathi Digital Loan Digital lending product enabling quick access to credit through digital channels for existing microfinance customers.
• Multi-Purpose Digital Loan Digital loan product for multiple purposes accessible through online platforms, offered to existing microfinance customers.
• Grameen Suraksha Insurance product offered through distribution partnerships via the company's branch network to microfinance borrowers.
• Life Insurance Life insurance products distributed through the company's branch network to microfinance borrowers and their families.
• NPS – Swavalamban National Pension System Swavalamban scheme distributed to support retirement savings for low-income individuals through branch network.
• Grameen Sanchay Savings product offered through the distribution network to microfinance customers.

Quantifiable outcome

• 14% year-on-year AUM growth to Rs 29,590 crore in Q4 FY26
• +5 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• SiemensstrategicTechnology or Integration · 1 August 2025Partnership to digitize microfinance branch operations using Siemens Mendix low-code platform, announced at Siemens Realize LIVE Asia Pacific 2025 conference in Bangalore.

Scale indicators16 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Satin Creditcare Network: Listed Indian NBFC-MFI offering group lending to low-income women with a similar product palette (income-generation, housing, MSME). Closely comparable on customer segment, product mix, and state-level exposure.
• Muthoot Microfin: Kerala-based NBFC-MFI part of the Muthoot Group, focused on women borrowers in rural India via group lending. Comparable customer profile, geographic mix, and product suite to CA Grameen.
• Arohan Financial Services: Private NBFC-MFI focused on underbanked households in eastern and central India via group and individual lending. Comparable on customer segment, group-based credit methodology, and digital roadmap.
• Fusion Microfinance: Delhi-NCR-based NBFC-MFI serving rural and semi-urban women borrowers through the joint-liability model with a similar mix of microfinance and emerging retail/MSME loans.
• Asirvad Micro Finance: Chennai-headquartered NBFC-MFI and subsidiary of Manappuram Finance, providing microfinance and small-business loans to women. Comparable product/segment offering and growing branch footprint across India.
• Svatantra Microfin: Mumbai-headquartered NBFC-MFI providing group and individual loans to women micro-entrepreneurs in rural India. Direct overlap on customer target, methodology, and product set.
• Spandana Sphoorty Financial: Listed Indian NBFC-MFI primarily serving rural women through the joint-liability group model. Direct overlap with CA Grameen on customer base, underwriting approach, and branch-led distribution.

Broad incumbents

• Manappuram Finance: Kochi-based listed NBFC whose gold-loan franchise is complemented by Asirvad Micro Finance. Comparable exposure to financial inclusion/credit for underserved households, with broader product breadth than pure MFI peers.
• Bandhan Bank: Commercial bank that originated as Bandhan (one of India's first MFIs) and now operates a national bank and MFI subsidiary. Comparable underlying MFI franchise but broader, deposit-funded product portfolio.
• Ujjivan Small Finance Bank: Small finance bank converted from an MFI; serves the same low-income women borrower base as CA Grameen with deposit-funded products. Overlaps on customer microfinance but offers a wider banking suite.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/creditaccess-grameen-limited
• Xx.com/cagrameen

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds16 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CreditAccess Grameen