Mumbai, October 2019:Aadhar Housing Finance's distribution innovation, 'Aadhar Mitra', referral associates being the last-mile link to connect affordable home buyers and to bridge the financial inclusion gap between developed urban India and under-developed rural India per se, is receiving great response from the ground level. The low-cost, high impact distribution model, which has already won industry accolades, now has 6000+ 'AadharMitras' who are unemployed or self-employed local youth with or without any knowledge of home Loan/financial industry. These 'AadharMitras' will not only market the company's home finance offerings but also will be one point contact for the local low-income or economically backward customers.
The company has done massive orientation drives across India in September to train and reconnect with these referral associates which included role-play based workshops, product and process training, sensitisation to the low-income segment and the role of AadharMitras. Speaking on the initiative, Deo Shankar Tripathi, MD & CEO of Aadhar Housing Finance said, "Aadhar Mitra is not only a unique distribution model but also a sustainable social and economic upliftment model which is a win-win for each stakeholder. The company gets to reach the remote locations economically without opening a physical branch; it promotes financial inclusion and access to organised home finance for the rural & sub-urban low-income homebuyers, the local unemployed or self-employed youth also gets to enhance their income through successful referrals. This supports the government's mission of 'Housing for all by 2020' in every possible way.
The company expects 20% of its business in the FY 2019-20 to be sourced by AadharMitras. They will also have access to digital technology platforms to stay connected with the company and customers.
About Aadhar Housing Finance Ltd.
Aadhar Housing Finance, owned by private equity funds managed by Blackstone, is one of the largest housing finance companies in India servicing the home financing needs of the low-income segment. Aadhar endeavours to empower underserved millions to own their first homes. Erstwhile Aadhar Housing Finance Limited (EAHFL) was incorporated in 2010 and later amalgamated with DHFL Vysyaw.e.f20th November, 2017 and subsequently name changed to Aadhar Housing Finance Limited. Today, its 300+ branches across 20 states and union territories help to reach more than 90% of the country’s low-income population and provide credit solutions that make home ownership accessible to everyone. Further information is available at www.aadharhousing.com