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All the staff and stakeholders including the BoD in the organization have been putting up
their best efforts collectively to realize the set goal and objectives of SMSSL. Over a period of time SMSSL has been able to increase its clientele level and portfolio size positively.
As a growing microfinance institution SMSSL has, indeed, made remarkable progress in the microfinance operation. With the trained and experienced staff in place and the computer based software package in use, SMSSL has started expanding its programs to the nearby blocks/districts also. As of March 2023, it has accomplished a clientele level of 47238 and portfolio outstanding of Rs-45,34,20,481.00. Its growth both in terms of clientele and savings mobilization has been quite significant in last years.
Microfinance Program Status of SMSSL as on 31st March’ 2023
| Key Indicators |
Cumulative status as on 31st March’2023 |
| Number of Districts |
3 |
| Number of Blocks |
8 |
| Number of Municipality |
2 |
| Number of Slums |
205 |
| Number of Villages |
134 |
| Number of Members |
47238 |
| Number of Active Borrowers |
17769 |
| Total number of Loans Disbursed |
11665(2022-23) |
| Total Value of Loan Disbursed |
463691000(2022-23) |
| Loan Portfolio Outstanding |
453420481 |
| Interest Rate charged on Loan |
16%(Reducing) |
| Repayment Rate |
99.9% |
| Portfolio at Risk (>30 Days) |
0.03% |
| Total Net Deposit mobilized |
462998955 |
| Average Savings mobilized per month per member |
130 |
| Rate of Interest paid on Savings |
4.5% |
| Amount of Dividend Paid |
982536(FY 2020-21 & FY 2021-2022) |
| % Dividend paid for the FY 2020-21 & FY 2021-2022 |
12% |
| Number of Members covered through micro insurance services |
20883(FY 2022-23) |
| Number of cases claimed |
171(FY 2022-23) |
| Number of cases settled |
171(FY 2022-23) |
| Number of Members covered in micro pension services |
222 |
So also SMSSL has been able to enhance its loan disbursement and portfolio growth with quality. Since inception, SMSSL has been able to disburse a cumulative number of 174736 loans amounting to Rs.404,86,43,000 o its members. Despite the slowdown of the microfinance sector across the state and country, SMSSL has been able to maintain a steady growth in its microfinance program and efficiency levels during past years.
SMSSL’s Accomplishments for last five years
Right from the beginning, SMSSL has been able to maintain excellent portfolio quality by high keeping the PAR>30 days and PAR>1 day level below 0.03%. SMSSL has already achieved operational as well as financial sustainability. Its OSS level reached to 184% and its FSS reached 108% as of March 2023. Its Yield on Portfolio has also been high
Simultaneously, SMSSL has been reasonably cost effective and efficient in its operations helping to reinvest its profit to make future loans and grow the portfolio. The table below represents the program performance of SMSSL for last four years.
To maintain this trend going forward, SMSSL will, however, need to mobilize more financial resources, especially loan funds to meet the growing credit needs of the clients. With the proposed expansion into the new areas and market segment, it would be requiring sizable fund support which is being projected in the financial planning and
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