Annapurna Finance Pvt. Ltd (AMPL), a microfinance venture of people’s Forum which is more than two decades old development organization. It is a Non Banking Financial Company regulated by Reserve Bank of India. It is promoted by Mr. Gobinda Chandra Pattanaik (Member Secretary cum CEO of People’s Forum). It was previously named as Gwalior Finance & Leasing Pvt. Ltd & was involved in financing & leasing business.
In 2007, People’s Forum segregated its microfinance activity from its developmental activities and creates an independent project called ‘Mission Annapurna’. People’s Forum promotes self-help groups (SHGs) consisting of women members and operating in rural and urban areas. On the strategic front, they have realized that with the growing demand for microfinance activities, they would face lots of limitation with the current legal form. In November 2009 the promoters of People’s Forum acquired Gwalior Finance and Leasing Company Private Limited, an NBFC registered in Varanasi (Uttar Pradesh). The name of the NBFC was changed to Annapurna Microfinance Private Limited (AMPL) in February 2010.
Annapurna Microfinance Pvt. Ltd is created for the purpose of growth of the microfinance operation in the areas which are still away from the touch of the formal financial system of the economy and provide livelihood support to the poor households by providing financial and technical support to strengthen entrepreneurial skill for effective and efficient undertaking of business activities.