Asha Credit is the brand name of Asha Social Development Foundation, a NGO registered under Section 8 of the Companies Act in India. As a Section 8 company, Asha Social Development Foundation is a non-profit organization with the primary objective of providing financial support to rural individuals. The company’s mission is to empower the rural population by offering financial support for business or housing purposes, thereby fostering economic growth and development.

Section 8 companies like Asha Social Development Foundation are unique in that they are driven by charitable goals. Any profits generated are reinvested towards achieving these goals, and no dividends are distributed to members. This ensures that the organization’s resources are solely focused on improving the lives of the underprivileged.

Moreover, the Reserve Bank of India (RBI) provides certain regulatory exemptions to Section 8 companies engaged in microfinance activities. This allows Asha Credit to operate with greater flexibility, ensuring that rural individuals have access to essential financial services without the burden of stringent regulatory requirements.

Asha Credit is dedicated to making a meaningful impact in rural communities by offering accessible and affordable financial solutions, contributing to sustainable development and poverty alleviation.