- 2020: CreditAccess Grameen wins CNBC-AWAAZ CEO Awards 2019
- 2019: CreditAccess Grameen wins Micro Finance Organization of the Year Award 2019
- 2019: CreditAccess Grameen adjudged as Winner in the Best NBFC category
- 2019: CreditAccess Grameen awarded with ‘Water.org and Sa-dhan Awards’ for water and Sanitation Credit Financing
- 2017: SKOCH Resilient India Award 2017
- 2017: ISC FICCI Award 2017 For Best Financial Accessibility For Sanitation
- 2017: MIX 2015 S.T.A.R. Recognition
- 2017: SMERA Upgrades Grameen Koota’s COCA Rating
- 2015: Industry’s top honour “Microfinance Organization of the Year 2015” in the ‘Large MFI’ category
- 2013: SKOCH Financial Inclusion Award 2013
- 2012: Silver Microfinance Information Exchange (“MIX”) Social Performance Reporting Award
- 2011: Silver MIX Social Performance Reporting Award
- 2011: Hanson Wade Asia Microfinance Recognition Award (Successful product innovation for Water and Sanitation Loan)
- 2010: Hanson Wade Asia Microfinance Recognition Award (Social and Financial Transparency)
- 2008: Growth Recognition Award from Unitus on reaching 2 lakh poor and low-income households
- 2008: Microfinance Process Excellence Award (MPEA) by PlaNet Finance and RBS Group
- 2007: Microfinance Pioneer Award from Grameen Foundation, USA
- 2006: Microfinance Process Excellence Award (MPEA): National Winner – by PlaNet Finance & ABN AMRO
- 2005: Microfinance Process Excellence Award (MPEA) by PlaNet Finance and ABN AMRO
CreditAccess Grameen limited has been awarded as the “Outstanding contribution to Rural Entrepreneurship and Empowerment” at the second edition of CNBC-AWAAZ CEO Awards. This award is constituted by CNBC-AWAAZ, a leading Hindi business news channel, in association with the Government of Chhattisgarh to celebrate the spirit of entrepreneurship and recognise the achievements and contributions of corporate leaders and companies. The award was given away by Mr Bhupesh Baghel, the Chief Minister of Chhattisgarh and was received by Mr Udaya Kumar Hebbar, MD & CEO and Mr Gopal Reddy, Business Head- Group Lending, on behalf of the Company on February 7, 2020 at a function held at Raipur.
CreditAccess Grameen has achieved yet another feat by receiving the Micro Finance Organization of the Year Award 2019 at the Inclusive Finance India Awards 2019 held in New Delhi. This award is an initiative of ACCESS institutionalized in partnership with HSBC India. From CreditAccess Grameen, Mr. Udaya Kumar Hebbar, MD & CEO, Mr. Diwakar BR, Director-Finance & CFO, Mr. Arun Kumar B, Head- Information Technology, Mr. Srivatsa H N, Head -Operations, Mr. Nilesh Dalvi, VP- Investor Relations, received the award from Dr. Krishnamurthy Subramanian, Chief Economic Advisor, Govt. of India and Mr. Surendra Rosha, Chief Executive officer, HSBC India
CreditAccess Grameen has been adjudged as the winner in the Best NBFC category at one of India’s most prestigious financial sector awards — FE Best Banks awards 2017-18. Mr. Udaya Kumar Hebbar, MD & CEO, CreditAccess Grameen, and Mr. Diwakar BR, CFO, CreditAccess Grameen received the award from Smt. Nirmala Sitharaman, Minister of Finance & Corporate Affairs.
The winners were chosen by a high-powered jury chaired by S Ramadorai, former Chairman, Tata Consultancy Services (TCS), and a team comprising R. Sankar Raman, director & CFO, Larsen & Toubro, Leo Puri, former managing director, UTI Asset Management, Biswamohan Mahapatra, former executive director, Reserve Bank of India, and Sharad Sharma, founder, Ispirt.
The Company has achieved yet another milestone. CreditAccess Grameen Limited awarded with ‘Water.org and Sa-dhan Awards’ for water and Sanitation Credit Financing – 2019 under ‘Large NBFC-MFI category’. The recognition was provided by recognizing the outstanding contribution for Water and Sanitation lending during FY 2018-19. The event was held on 16th September 2019, at the Sa-Dhan National Conference 2019, at India Habitat Centre, New Delhi. On behalf of all CreditAccess Grameen`s employees and the Board members, Mr. Gururaj Rao, Chief Audit Officer, Mr. Sundar Arumugam, Head-New Business and Innovation and Mr. Gopal Reddy, VP-Operations received the award.
June 2017: Grameen Koota won the SKOCH Resilient India Award 2017 for Sanitation. The Award was presented on 20 June 2017 at the Bombay Stock Exchange (BSE) Hall by Sameer Kochhar, Chairman of SKOCH Group and Porush Singh, Division President – South Asia, Mastercard. Diwakar BR (CFO, Grameen Koota), Anshul Sharan (Head- Strategy & Planning) and Sujay CT (Strategy & Planning) received the Award on behalf of the organization.
Managing Director & CEO Udaya Kumar said, “We are delighted to receive the SKOCH Award and the Order of Merit. It validates our core principle of social responsibility to our stakeholders.”
Grameen Koota also received the Order of Merit in two categories: Microcredit service and Sanitation. The SKOCH Order of Merit recognized and appreciated Grameen Koota’s efforts in delivering financial products and services to the last mile.
April 2017: Grameen Koota bagged the ISC FICCI 2017 Award for Best Financial Accessibility for Sanitation. Sumit Kumar, Director, Grameen Koota received the award from the Union Minister for Railways, Suresh P. Prabhu on Thursday, April 27, 2017 at a ceremony during the India Sanitation Conclave 2017 held in New Delhi. Diwarkar BR, CFO, Grameen Koota and Anshul Sharan, Head – Strategy, Grameen Koota, were present at the ceremony.
In its award citation, the India Sanitation Coalition (ISC) said: “Grameen Koota has been recognized for increasing financial accessibility in rural Karnataka and Maharashtra through their three-pronged approach – Creating awareness among all people in operational areas of Grameen Koota, Imparting training on various aspects of Sanitation and Providing access to affordable credit for toilet construction to interested Grameen Koota customers.”
Access to affordable finance has resulted in over 6 lakh Grameen Koota members improving water and sanitation systems in their homes.
Feb 2016: The rating agency SMERA has assigned the top MFI Code of Conduct Assessment (COCA) Rating of ‘ÇOCA 1’ defining “Very High Level of Adherence” to Grameen Koota, upgrading it from the previous rating of ‘ÇOCA 2’ or “High Level of Adherence”, on a six-point scale given to the MFI industry.
October 2015: The Client Protection Certification awarded by Smart Campaign in 2013 came up for review after two years and M-Cril, the reviewing organization found Grameen Koota compliant with the principles. In its communication, Smart Campaign said: “The two-year check-in validates that Grameen Koota continues to adhere to the Client Protection Principles… Based on the results of the check in, your status as a microfinance institution certified as complying with Smart Campaign CPPs will remain unchanged.”
August 1, 2015: The rating agency CRISIL has, after due consideration, assigned an MFI grading of ‘mfR1’ to Grameen Koota, upgrading the rating from ‘mfR2’ to ‘mfR1’, on an eight-point scale given to the MFI industry. CRlSlL’s MFI grading is a great accomplishment for Grameen Koota as it accords recognition for a microfinance institution (MFl) to conduct its operations in a scalable and sustainable manner.“This is another very important achievement and a remarkable milestone for Grameen Koota and this grading represents the Best MFI by credible rating agency and on par with best MFIs in India,” said Mr Udaya Kumar, MD & CEO of Grameen Koota.
The rating agency M-CRIL has, after due consideration, assigned MFI social rating of ‘∑α’ with positive outlook to Grameen Koota, upgrading the rating from ‘Σα-‘ with positive outlook to ‘Σα’ with positive outlook, on an eight-point scale given to the MFI industry. M-CRIL’s MFI social rating is a great accomplishment for Grameen Koota as it accords recognition for a microfinance institution (MFl) to have strong social commitment, very good systems, evidence for good adherence to social mission and values.
Grameen Koota once again received the grading of mfR2 by CRISIL Limited, on a scale of 1 (highest) to 8 (lowest). Graded on the basis of organization’s overall performance, which was measured on a broad range of parameters under CRISIL’s MICROS framework. This Microfinance (mfR) grading by CRISIL is a current opinion on the ability of an MFI to conduct its operations in a scalable and sustainable manner. Last year, in the month of November, Grameen Koota got upgraded from mfR3 to mfR2 by CRISIL Limited.
The rating of Grameen Koota has been upgraded by ICRA once again. Recently, Grameen Koota’s ratings on the long-term bank loans amounting to Rs 613.27 crore (enhanced from Rs. 413.27 Cr.) and non-convertible debentures amounting to Rs. 378 crore have both been upgraded to ‘BBB+’ from ‘BBB’. Along with these, the rating for Rs. 22 Cr. Subordinated Debt of Grameen Koota has also been upgraded to ‘BBB’ from ‘BBB –’.
As per ICRA, the upgrade reflects on factors including the improvement in the resilience of earnings, superior ability to scale up as well as strengthened capacity to control asset quality. Grameen Koota has been regular in servicing all its principal and interest obligations in a timely manner and there has not been any delay or default during the specified period. The outlook on the long term rating is stable.
Grameen Koota got acknowledged for the 3rd time in a row by MIX for its outstanding performance in social sector. Grameen Koota has been bestowed with the honor of being one of the only 5 Indian institutions which have been recognized as MIX 2013 Socially Transparent And Responsible (S.T.A.R.) MFI. It’s one of the 30 institutions out of the 200+ MFIs, which participated in the desk review process globally, to have been awarded with STAR recognition
The ratings on the long-term bank loans (amounting to Rs 403.27 crore) and non-convertible debentures (amounting to Rs 178 crore) of Grameen Koota have both been upgraded to ‘BBB’ (stable) from ‘BBB-’ (stable), the credit rating agency said in a statement.
As per ICRA, the upgrade for these NBFCs (focused on microfinance lending) reflects likely improvement in the resilience of their earnings, superior ability to scale up as well as strengthened capacity to control asset quality.
A combination of factors that led to these improvements are: clarity and changes in the regulations, the internal changes at the individual microfinance institutions (MFIs); and ability of the MFIs to regain the confidence of equity investors as reflected in the equity infusions post the Andhra Pradesh crisis.
According to ICRA’s rating scale, instruments with ‘BBB’ rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk. The modifiers ‘+’ and ‘-‘reflect the comparative standing within the rating category.
After undergoing Truelift Assessment at the Microcredit Summit Campaign’s Partnerships against Poverty Summit, Grameen Koota was awarded with its Truelift Certification acknowledging it at ‘Achiever’s level’, out of the four Truelift milestones, for its commitment to pro-poor microfinance practices.
Truelift through this certification not only recognized the efforts made by Grameen Koota to put welfare of clients at the centre of microfinance but also demonstrated that the institution is responsible, effective and committed towards bringing about total financial inclusion to promote inclusive growth and poverty alleviation. M-CRIL conducted the True lift Assessment using the tool developed by TrueLift to form an opinion of an MFI’s performance.
Grameen Koota has received a Social Rating of ‘∑α-’ (alpha minus) by M-CRIL in Nov.2013, as recognition to its strong social commitment, good systems and adherence to social mission and values. It’s a great honour as in the last 2 years it’s only Grameen Koota which has received ‘∑α-’ rating in India.
It was shared by M-CRIL that there is no institution globally which has received ‘∑α+’ so far. While globally there are a few institutions which have received ‘∑α’ but in India, it’s only Cashpor which has received a rating of ‘∑α’ so far.
In Nov.2013, Grameen Koota got upgraded to mfR2 as per the rating by CRISIL Limited, on a scale of 1 (highest) to 8 (lowest) based on the organization’s overall performance. Grameen Koota is now one of the few MFIs in India to have this grade. This Microfinance (mfR) grading by CRISIL is a current opinion on the ability of an MFI to conduct its operations in a scalable and sustainable manner.
In September Grameen Koota was awarded the official Seal of Transparency from MFTransparency as part of its Transparent Pricing Initiative in India. As per MF Transparency Grameen Koota’s firm commitment to consumer protection and responsible microfinance was primarily the basis of awarding the seal to the organization.
MicroFinance Transparency is an international non-governmental organization founded in 2008 with the purpose of facilitating transparent markets through the dissemination of true cost information to all market stakeholders. MFTransparency represents an industry movement toward fair practices and responsibility. MFTransparency launched the Transparent Pricing Initiative in India in April 2010 with widespread support from a range of industry actors as sponsors of the Initiative. The Indian microfinance market as a whole has shown a strong commitment to developing an enabling environment for transparent pricing. MFTransparency awards transparency certification to all MFIs who submit data and commit to educating their clients on pricing.
The organization was taken to another level by getting reclassified into a regulated and governed Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFI) entity by Reserve Bank of India (RBI) in the month of September 2013.
Grameen Foundation USA awarded Grameen Koota with the Certificate of Completion for its Basic, Advanced and Tracking Over Time Standards of the use of Progress out of Poverty Index (PPI). Grameen Foundation defines the PPI as “a simple and accurate tool that measures poverty levels of groups and individuals. Using the PPI, MFIs can better determine their clients’ needs, which programs are most effective, how quickly clients leave poverty, and what helps them to move out of poverty faster.” Grameen Koota adopted the tool in 2008 and has meticulously collected the PPI data from its clients. Thus the organization has been able to assess the progress of its clients from the poverty level they were in when they became its members. The efforts of Grameen Koota in using the PPI have now been recognized.
Grameen Koota was placed fourth in the rank of top 100 microfinance institutions in the world by the global Microfinance Exchange (MIX) in terms of performance in 2009. This year, 20 MFIs from India figured in the list of top 100 MFIs ranked by the MIX with Grameen Koota topping Indian MFIs. Grameen Koota jumped from a rank of 180 in 2008 to 4 in 2009 with an overall percentile of 82.2% from its last year’s 68.9%.