Investment in SEWA Grih Rin, India

  • Country: India
  • Date: 2014

In 2014, the Aarohi Fund closed its first investment in SEWA Grih Rin (SGR), an Indian non-bank housing finance company that will lend to informally employed and informally tenured households in urban areas.

SGR’s mission is to finance access to decent housing and sound living environments for, and with the participation of, poor women and their families in the informal sector. SGR was founded by the Self-Employed Women’s Association (SEWA) of India, a national trade union founded in 1972 to organize women workers in the informal sector to make them self-reliant and economically independent. Starting in Delhi (a SEWA stronghold), SGR will make loans to informally employed women for the construction and improvement of their homes, with the aim of reaching SEWA members in other parts of India.

Aarohi’s early investment commitment was instrumental in attracting six other domestic and international investors. SGR has received its housing finance company (HFC) license from the National Housing Bank (NHB) in India and will kick-start operations in 2015. Aarohi’s management currently serves on SGR’s board, providing ongoing guidance and support.