Annapurna Finance Pvt. Ltd (AFPL) was established in 2009, and is now one of the top ten NBFC-MFIs in the country. It has its roots as a part of not-for-profit entity, Peoples Forum, an NGO which worked for the development and welfare of unserved sections of the society. The microfinance activities started with the inception of Mission Annapurna under Peoples Forum from the year 2005. Mission Annapurna was able to reach the interior unserved areas of Odisha through its untiring effort of addressing the economic necessities of poor women at their doorstep. As the program grew, there was an utter need to transform itself into a more streamlined entity. The gradual transformation of Mission Annapurna brought forth the name Annapurna Microfinance Pvt Ltd (AMPL) in the year 2009. Thereafter, AMPL registered itself with the Reserve Bank of India (RBI) as an NBFC-MFI in the year 2013.
Annapurna was established with a purpose of serving the economically backward clients by bringing them to mainstream, providing need based financial services at their doorstep. The focus has been clear, to reach the areas where formal financial institutions find it unprofitable to settle in. Its objectives have not only limited to just reach and serve but also by providing financial and technical support to strengthen entrepreneurial skill for effective and efficient undertaking of business activities.
Annapurna, over the years, has continued to innovate in its products and delivery mechanisms, to make the whole product life cycle of micro-credit as relevant as possible for its clients. The aim is to offer multiple need based products, which can serve specifically all the customer life cycle needs of micro-credit.