Annapurna Finance Private Limited had its origin as a not - for - profit company called __________, an NGO that helped poor women in Odisha.
- ((a))
Alternative for Rural Movement
- ((b))
Peoples Forum
- ((c))
All India Development Trust
- ((d))
Action for Rural Transformation
Show Answer
Peoples Forum
The correct answer is Peoples Forum.

Key Points
- Annapurna Finance Private Limited was initially established as a not-for-profit organization under the name Peoples Forum in 1990.
- Peoples Forum was an NGO based in Odisha, aiming to support and empower poor and marginalized communities, particularly women.
- The organization focused on poverty alleviation through livelihood generation, financial literacy, and microfinance initiatives.
- In 2009, it transitioned into a Non-Banking Financial Company-Microfinance Institution (NBFC-MFI) to expand its outreach and formalize its financial services.
- Annapurna Finance is now one of India’s largest MFIs, providing micro-loans to rural and semi-urban populations to promote financial inclusion.

Additional Information
- Microfinance Institutions (MFIs):
- MFIs provide small loans to individuals who lack access to traditional banking services, helping them build sustainable livelihoods.
- They play a critical role in promoting financial inclusion, especially in rural and underserved areas.
- Non-Banking Financial Companies (NBFCs):
- NBFCs are financial institutions that offer banking services without meeting the legal definition of a bank.
- They are regulated by the Reserve Bank of India (RBI) and play a significant role in the Indian financial ecosystem.
- Women Empowerment through Microfinance:
- Microfinance initiatives by organizations like Annapurna Finance have enabled women to become financially independent and contribute to household income.
- These programs also promote entrepreneurship and skill development among women.
- Odisha's Socio-Economic Context:
- Odisha has a significant rural population with limited access to formal financial systems.
- Organizations like Peoples Forum have played a key role in addressing poverty and improving living standards in the state.


































































































