Vedika Credit Capital

What Vedika Credit Capital does

Vedika Credit Capital Ltd is an RBI-registered, non-deposit-taking NBFC-MFI headquartered in Ranchi, Jharkhand, operating across 7 Eastern Indian states (Bihar, Jharkhand, West Bengal, Uttar Pradesh, Assam, Odisha, Tripura) through a 192-branch network. The company directly lends from its own balance sheet to underserved women micro-entrepreneurs and small-business borrowers using Joint Liability Group (JLG) loans, Micro Enterprise Loans, E-Rickshaw finance (with AI-powered credit decisioning), WASH loans, Micro Housing loans, and supporting Shopkeeper/Dairy/Business/Personal loan products. Pricing is anchored at 28.5% ROI on JLG/Micro Enterprise products per RBI NBFC-MFI regulations, while E-Rickshaw uses risk-based IRR pricing with disbursement within 24 working hours.

The business model is interest-income-driven with monthly repayment frequency, augmented by co-lending arrangements (State Bank of India as first co-lending partner in 2021, Punjab National Bank), Business Correspondent partnerships, and Priority Sector Lending (PSL) portfolio assignments to banks. Distribution combines deep physical branch presence in rural and semi-urban markets with a digital self-serve layer (online loan application across 9+ products, EMI calculator). E-Rickshaw finance is uniquely differentiated through OEM/dealer channel partnerships and an AI-driven origination stack. Venture-style risk management is led by a dedicated Risk and Audit Head, and product underwriting is supported by a Compliance function with 8+ years of tenure.

Vedika has scaled to Rs. 1,000 crore AUM (FY 2022-23) from Rs. 500 crore (FY 2018-19) and has cumulatively disbursed Rs. 4,000+ crore to 10 lakh+ women entrepreneurs. It is rated A-/ACUITEA Minus Stable (upgrade by Acuité in 2023), graded Category 1 Microfinance, classified as a Middle Layer NBFC under RBI Scale-Based Regulation, and has NCD listings on BSE (2020) and NSE (2024). It is positioned as the largest MFI operating exclusively in Eastern India and the only MFI headquartered in Jharkhand, with a wholly owned subsidiary (Vedika Sales & Services Private Limited) and a SIDBI nominee director on its board.

Name

Vedika Credit Capital

Legal name

Vedika Credit Capital Ltd

Website

https://teamvedika.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Vedika Credit Capital is an RBI-registered NBFC-MFI headquartered in Ranchi, Jharkhand, lending directly to women micro-entrepreneurs and small-business borrowers through 192 branches across 7 Eastern Indian states via JLG, Micro Enterprise, E-Rickshaw, WASH, and Micro Housing loans at 28.5% ROI.

Ownership category

akta.pro rank

Product category

Microfinance / NBFC-MFI Lending

NAICS

Nondepository Credit Intermediation (5222)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Microloans & Working Capital Loans (FSAKAGAA)

akta.pro secondary industries

Microenterprise Group Lending (Joint Liability) (FSAKAGAH), Agricultural & Rural Microfinance (FSAKAGAG)

Keywords

• Microfinance lending
• Joint liability group loans
• Rural micro lending
• Women entrepreneur financing
• NBFC-MFI services

Headquarters

HQ city

Ranchi

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Microfinance Lending Interest Income: Vedika Credit Capital generates revenue primarily through interest income on microfinance loans disbursed from its own balance sheet. The company offers Joint Liability Group (JLG) loans with ROI of 28.5% (reducing basis), Micro Enterprise Loans, E-Rickshaw Finance, WASH Loans, and Micro Housing Loans. Interest rates are determined per RBI NBFC-MFI regulations with transparent disclosure before loan execution.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

Vedika Credit Capital Ltd is an RBI-registered NBFC-MFI providing microfinance lending services primarily to underbanked women micro-entrepreneurs in rural Eastern India through Joint Liability Group (JLG) loans and individual micro loans. It operates a 192-branch network across seven eastern states, offering group-based, micro-enterprise, housing, sanitation, and e-rickshaw financing products. The company lends from its own balance sheet and selectively co-lends with PSU banks such as SBI and PNB.

Product overview

Vedika Credit Capital Ltd operates as an RBI-registered NBFC-MFI offering a diversified portfolio of microfinance products delivered through its own balance sheet. The product suite centers on Joint Liability Group (JLG) Loans as the core offering, supplemented by Individual Micro Loans, Micro Enterprise Loans, E-Rickshaw Finance, WASH Loans, and Micro Housing Loans. Additional products include Shopkeeper Loans, Dairy Loans, Business Loans, and Personal Loans. All loans are assessed using AI-powered credit decisioning for E-Rickshaw products and follow RBI NBFC-MFI regulations. The company provides direct lending across 7 states through 192 branches, with support for financial inclusion of women entrepreneurs.

Differentiator

Problem solved

Functional benefit

Products and services

• Joint Liability Group (JLG) Loan Group-based microfinance lending product for women from low-income households who form groups of 4-10 members and provide mutual guarantees, intended for income-generating activities.
• Micro Enterprise Loan Credit facility for individual micro-entrepreneurs and small business owners seeking working capital or expansion funding beyond group lending.

Quantifiable outcome

• Achieved ₹1,000 crore AUM milestone in 2022-23
• +5 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered major, core and minor.

• Public Sector BanksmajorChannel Partner/ Reseller/ DistributorPartnership with public sector banks for priority sector lending fulfillment and co-lending arrangements.
• Private Sector BanksmajorChannel Partner/ Reseller/ DistributorPartnership with private sector banks including HDFC Bank, ICICI Bank, Axis Bank for banking relationships and priority sector lending.
• Co-Lending PartnerscoreChannel Partner/ Reseller/ DistributorMultiple co-lending partnerships with banks for microfinance loan distribution.
• E-Rickshaw OEM PartnersmajorChannel Partner/ Reseller/ DistributorPartnership with multiple e-rickshaw OEMs and dealers for vehicle financing, including Terra Motors and other EV manufacturers.
• Insurance PartnersminorOthersInsurance partnerships for loan protection and asset insurance including TATA AIG, ICICI Prudential Life Insurance.
• BC PartnermajorChannel Partner/ Reseller/ DistributorBusiness Correspondent partnerships for extended reach in rural areas.
• Rating AgenciesminorOthersPartnership with credit rating agencies including Acuité, Infomerics, Brickworks for credit rating assessments.
• NBFC PartnersminorChannel Partner/ Reseller/ DistributorPartnerships with other NBFCs for lending relationships and co-lending arrangements.

Scale indicators9 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Svatantra Microfin: NBFC-MFI focused on women micro-entrepreneurs via group lending in rural and semi-urban India; closely comparable product and customer segment, with overlapping presence in Central and Eastern India.
• Satin Creditcare Network: Listed NBFC-MFI engaged in JLG and individual lending to low-income women; directly comparable product and customer segment, with a national footprint including strong presence in Eastern/Northern India.
• Muthoot Microfin: NBFC-MFI providing JLG loans to women micro-entrepreneurs across India, with strong presence in Eastern and Southern states; directly comparable in customer segment and group-lending product.
• CreditAccess Grameen: One of India's largest NBFC-MFIs focused on JLG lending to rural women; comparable business model, customer segment (women micro-entrepreneurs) and product suite, though at materially larger AUM scale than Vedika.
• Fusion Microfinance: NBFC-MFI offering JLG loans to women micro-entrepreneurs across underserved rural areas; closely comparable model, with some Eastern India overlap and similar focus on women's financial inclusion.
• Asirvad Micro Finance: NBFC-MFI (backed by Manappuram Group) offering JLG and micro-enterprise loans to women in rural and semi-urban India; directly comparable model with significant pan-India branch network.
• Spandana Sphoorty Financial: Listed NBFC-MFI providing JLG and individual micro loans primarily to women in rural India; directly comparable in customer base and product mix, with broader geographic reach than Vedika's Eastern India focus.

Others

• SIDBI (Small Industries Development Bank of India): Development finance institution that funds and capacity-builds MFIs; relevant as a counterparty/partner (Vedika is a SIDBI Business Associate under PRAYAAS with a nominee director) rather than a direct competitor.

Broad incumbents

• Bandhan Bank: Large universal bank whose microfinance roots and JLG book make it a broad incumbent peer; Vedika is SBI's first co-lending partner, putting it in direct distribution overlap with Bandhan's EEB and microfinance business.
• Ujjivan Small Finance Bank: Small Finance Bank with a microfinance heritage serving similar low-income and micro-entrepreneur segments via JLG-style group lending; comparable customer base, but with a broader liability and product franchise than Vedika.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@vedikacreditcapitalltd
• Facebookfacebook.com/teamvedikaofficial
• LinkedInlinkedin.com/company/team-vedika
• Instagraminstagram.com/teamvedikaofficial
• Xx.com/Team_Vedika

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Vedika Credit Capital