Spandana was formed in 1997 by Padmaja Reddy and a few close peers who believed that there could exist simple, yet democratic and powerful systems that would enable the poor to harness their naturally entrepreneurial spirit.

The transformation of Spandana over the last decade from an NGO raising its own funds and giving loans to the poor to India's largest micro finance institution that has support from most mainstream institutional lenders, is unprecedented. With ambitions of being the foremost service provider for its clients, it is uniquely poised with an operational efficiency and a customer understanding that has become the benchmark in this sector.

Micro Finance Today

The micro finance industry, which began in 1976 with the establishment of Grameen Bank in Bangladesh, is now a world- wide movement comprising thousands of specialists banks, credit unions, co-operatives, villages, NGOs and charities.