Indian Grameen Services
Financial Inclusion
Estd: 1987
Used for Beneficiaries: 86%
Address : Indian Grameen Services, BC-247, Sector-1, Salt Lake City, Kolkata 700064. West Bengal
Email :,,
Web-site :
Telephone : +91 33-23596264
Donor Contact : Arijit Dutta / +919831004016 /
Financial Score
Rs, Y/E March 31
Income & Expenditure Statement201320142015
Income From
Government Sources000
Institutional Sources58,916,81371,719,73129,462,053
Foreign Sources35,832,99123,606,36477,265,675
Other Income3,806,9792,362,5783,339,304
Total Income (A)182,756,187258,893,505390,441,575
Expenses For
Direct Programme Activities44,777,06847,078,86079,615,824
Programme Staff Cost77,879,371150,766,079218,730,821
Travel Expenses21,321,57521,444,26838,213,448
Direct Programme Expenses143,978,014219,289,207336,560,093
Fund Raising Expenses000
General Staff Cost000
Overhead Expenses18,046,24020,744,32728,566,875
Other Expenses/Transfer16,453,84014,302,60622,467,202
Total Expenditure (B)180,548,903256,955,748390,513,727
Surplus / (Deficit) (A-B)2,207,2841,937,757-72,152
Balance Sheet201320142015
Fixed Assets34,892,15034,241,89429,670,693
Current Assets (excl. Cash)183,145,2451,042,016,2971,266,485,082
Cash/Bank 23,429,67430,294,98679,798,299
Accumulated Deficits000
Total Assets342,254,4891,175,997,6261,460,271,872
Corpus / Share Capital45,666,94046,436,58947,160,349
General Funds34,268,64039,911,55038,274,245
Earmarked Funds69,196,31766,430,14867,443,958
Current Liabilities101,012,592931,109,3391,215,283,320
Total Liabilities342,254,4891,175,997,6261,460,271,872
Other Details201320142015
Direct Beneficiaries (Nos)262,503480,0001,550,000
Indirect Beneficiaries (Nos)385,403380,000446,000
Cost Per Direct Beneficiary (Rs) - Avg. 680530250
Number of Staff7137481,010
Highest Salary (Rs p.a.)1,420,5601,398,7081,389,840
Lowest Salary (Rs p.a.)42,52864,56076,356
Regd. under : The Companies Act, 1956
Auditor : V. Nagarajan & Co.
Bankers :
IDBI Bank State Bank of India
Canara Bank

Donor tax benefits : No Tax Benefit
Eligible for foreign donations : Yes

Trustees/Directors/Managing Committee:
Mr. Vijay Mahajan, Chairperson Mr. Arijit Dutta, Managing director
Dr. Sudha Nair, Director Ms Patricia Mukhim, Director
Mr. Hersh Haladker, Director Mr. Vijay Rajaram Nadkarni, Director
Ms. Swati Bhargava Desai, Director Dr. Sankar Datta, Director

Source : Audit Report 2015

Financial Note : 1) Foreign Sources have been taken from the Receipts & Payments account. 2) Sales/Fees mainly include revenue for extending financial services as Business correspondants to other NGOs, Institutional development income, Interest on loans to NGOs, and Rental income. 3) Other Expenses/Transfers mainly include Bad-debts written off, Loss on foreign exchange fluctuation, Provision for non-performing assets and unrecovered advances, and Prior period items. Tax expense and Deferred tax have also been included under this head. 4) Current Assets and Current Liabilities mainly include dues receivable from micro-borrowers and payable to Banks respectively, for acting as Business correspondants (Rs103 crores in FY15, Rs79 crores in FY14, and Rs11 crores in FY13). 5) The NGO has borrowed loan of Rs9 crores from The Ford Foundation, USA @1% ROI, repayable in 4 equal installments commencing from 2020.

NGO Profile :
Indian Grameen Services (IGS) is engaged in developing, pilot-testing, and incubating innovative livelihood promotion solutions for the poor. Their operations are broadly divided into two major thrust areas involving Grant-based development support and Fee-based business support services to augment, expand and achieve scales in the field of Livelihood promotion. In FY15, IGS implemented 43 projects in 18 states, thereby reaching over 15 lakh households.

Their activities include:

  • Development Activities: These involve Research & Development for identifying appropriate livelihood opportunities, and intervention points for supporting rural producers. In addition, IGS builds the implementation capabilities of various Institutions, enabling them to deliver cost-effective livelihood promotion activities, either directly or by collaborating with agencies that influence the livelihoods of a large number of people. Under this division, IGS has undertaken the following initiatives –
  1. Action Research Programs: The focus is on identifying potential sub-sectors (eg. paddy, cotton, groundnut, milk, lac, handloom) and vectors (eg. water, power) which can support a large number of livelihoods in the rural areas. As part of the sub-sector studies, the bottlenecks are identified and appropriate intervention strategies are developed, in collaboration with key players. Micro-interventions are undertaken to test these strategies and assessing their applicability at the grass root levels, and then scaled up to promote employment opportunities and livelihoods of the poor.
  2. Livelihood Triad Services: The aim is to promote and support microfinance and livelihood initiatives of the  Community-Based Organisations (CBOs), community-based Microfinance Institutions (MFIs) and upcoming NGO-MFIs in India. IGS provides (i) Financial inclusion services like savings, credit, remittances, insurance, etc. (ii) Institutional development (iii) Technical support services like market linkages, skills to expand, support for collaborations, etc.  
  • Business Support Services: IGS has been involved in development of new products and channels for extending financial services to poorer households. They act as Banking Correspondents for three banks, to provide financial inclusion services at rural and semi-urban areas. They provide financial services to other NGOs/CBOs from their own Livelihood Fund. Over 12.5 lakh people have been covered, who now have access to financial services and improved income.
  • Waste Management: IGS’ has helped in improving waste management practices of over 20 Municipal Corporations in FY15.