The Micro Credit Wing titled “Credit & Saving Programme” [RGVN-CSP] was initiated as a pilot project of RGVN-Society with fund assistance from SIDBI.


For the first time, the programme registered a profit of Rs. 3.35 Lakh through a network of 22 branches and the loan outstanding stood at Rs. 615.21 Lakh.


RGVN (North East) Microfinance Limited [the Company transformed from RGVN-CSP] was established and registered as a Public Limited Company to carry out Microfinance activities in North East India.


RGVN (North East) Microfinance Limited, upon receipt of Registration certificate from RBI, obtained the status of an NBFC and commenced operations as a microfinance provider and expanded its operations to 5 other states of North East India.


With portfolio touching Rs. 102 crore covering 95 branches and serving more than 2 lakh clients, RGVN (NE) MFL upgraded as Systemically Important (SI) NBFC with more than Rs 100 crore portfolio.


Covered five states of NE India catering to around 2.49 lakh clientele with Rs. 117 crore portfolio outstanding and good quality portfolio with PAR>30 days being a negligible 0.52%


Despite fund constraints hampering the expansionary phase, the year 2014 remained eventful with higher profits earned. Portfolio outstanding was at Rs 124 crore and quality of portfolio was maintained at PAR>30days being 0.50%. RBI certified the organization as an NBFC-MFI.


Infusion of fresh equity by NMI Fund III KS, Norway, Oiko Credit Ecumenical Development Co-Operative Society UA, Netherlands, Dia Vikas Capital Pvt. Ltd. and conversion of OCPS into equity by SIDBI had enabled a strong capital base for the Company.
The key highlights during the year include:

  • An Application was sent to RBI for grant of RBI Licence for Small Finance Bank.
  • The company touched a portfolio of Rs 229 crore.
  • Active borrower base was over 2 lakhs.
  • Quality portfolio with PAR(>30 days) being 0.19%


  • Received the In-Principal approval from the Reserve Bank of India in October 2015 to set up a Small Finance Bank within 18 months in order to complete the transformation process.
  • Awarded the pestigiuos “Microfinance Organization of the Year 2015 (Small & Medium)” from Access Assist and “The NEDFI Award 2015”, recognizing our contribution towards financial inclusion and development of entrepreneuer through micro credit.
  • Operating in 131 branches spread across the six North Eastern States of Arunachal Pradesh, Assam, Meghalaya, Nagaland, Tripura and Sikkim touching and improving the lives of over 2.9 Lakh clients with a portfolio outstanding of Rs. 488 crores, an increase of 112% over the previous financial year.


  • We registered a Public Limited Company by the name of North East Small Finance Bank Limited on 25th July, 2016.
  • We have extended our operations into North Bengal with three branches in Birpara, Jalpaiguri and Mynaguri thus covering a total of seven states with six Northeastern States (Assam, Meghalaya, Arunachal Pradesh, Nagaland, Tripura, Sikkim) and West Bengal. At the end of the financial year 2016-17, the total number of branches stood at 139.
  • Inflow of funds through term loans and NCDs has made it possible for us to assist more than 4 lakh clientele.
  • Equity amounting to Rs. 97.34 crores was infused into RGVN(NE) MFL by SIDBI Venture Capital (Rs. 40 Cr), RNT Associates (Rs. 28.33 Cr), Pi Ventures (Rs. 20 Cr) and Nordic Microfinance Initiative Fund III KS (Rs. 9 Cr). The ratio of domestic to foreign shareholding post the fresh equity infusion was 52.16% and 47.84% respectively, which makes us a domestically owned organization.
  • Although our disbursements and collections received a huge setback with the sudden demonetization announcement by the Government of India, however we could successfully achieve an annual disbursement of Rs.679.87 crore with loan outstanding at Rs.688.32 crore. The on-time repayment rate stands at 98.20% and PAR>30 days being 1.09% for the FY 2016-17 thereby implying that inspite of the demonetization drive all our operational parameters except the on-time repayment rate and PAR(>30 days) have shown a steep rise.
  • Total staff strength stood at 772 as on 31st March, 2017.
  • Received the Small Finance Bank License from RBI on 31st March, 2017


  • Equity amounting to Rs. 76.30 Crores was infused into RGVN(NE) MFL by SIDBI (Rs. 1.99 Cr), RNT Associates (Rs. 13.66 Cr), Pi Ventures (Rs.2.89 Cr), NMI (Rs. 5.99 Cr), Dia Vikas (Rs. 16.99 Cr) Bajaj Allianz (Rs. 34 Cr) and RGVN ESOP Trust (Rs. 65 Lakh).The ratio of domestic to foreign shareholding post the fresh equity infusion is 54.10% and 45.90% respectively, which makes us a domestically owned organization.
  • All the assets and liabilities of RGVN (NE) MFL was transferred to North East Small Finance Bank through a process of Slump Sale.


  • RGVN has converted itself into a core investment company (NBFC-NDSI-CIC) w. e. f. 29th May, 2019 as per RBI small finance bank licensing conditions.