Conceived idea of initiating a professional livelihood development institution, started planning for the same

Foundation meeting held (on 10th December)

Registered under Karnataka Societies Registration Act of 1960 (on 27th December 2006)

Established our Base Office in Bidar and recruited Branch Office Staff

Opened first Branch Office in Bidar town

First batch of staff joined on 1st February.

Training, area survey, projection meeting started

Exposure to operations of Saadhana Microfin Society and training

First ever loan borrowing (by Saadhana Innovative Financial Products & Services Ltd., the then Sai Vachan Securities Ltd.)

First ever loan disbursement made (on 30th March 2007)

Membership in Sa-Dhan, an association of community development microfinance institutions.

First loan by any private sector international bank. Sanction of INR 5.00 millions by RBS (the then ABN Amro Bank N.V.)

Reached 1,000 members

First loan sanction by FWWB-India

Launched website of Nirantara (www.nirantara.org)

Started monthly newsletter, Nirantara News

CEO visited operations of Grameen Bank, Bangladesh

Crossed 2,000 members

Achieved INR 10.00 million in portfolio outstanding

First ever rating process (by CRISIL commissioned by SIDBI)

First loan by any public sector nationalized bank. Sanction of INR 2.50 millions by Indian Overseas Bank

Crossed INR 25.00 million cumulative disbursements and achieved INR 15.00 million in portfolio outstanding.

Also crossed 3,000 active clients figure

Achieved OSS of over 100% for the first time and closed financial year with income over expenditure