Jump to content

RangDe

From Wikipedia, the free encyclopedia
For film, see Rang De.

Rang De
IndustryPersonal finance
Founded2008
FoundersSmita Ramakrishna, Ramakrishna NK
Headquarters
Bengaluru
,
India
Key people
Smita Ramakrishna, Ramakrishna NK
ProductsPeer-to-peer lending
Websiterangde.in

Rang De is India's first peer-to-peer online micro-lending platform founded in 2008. It is based in Bengaluru, India.

History

[edit]

Smita Ramakrishna and Ramakrishna NK founded Rang De in 2008 as a not-for-profit organisation to serve the credit needs of the under-served communities and low income households.[1][2] It connects individual social investors to a community of curated entrepreneurs and students from low-income households across the country, enabling them to invest in the livelihoods and education needs of this community.[3][4][5][1][6]

In 2013, Rang De opened the platform for foreign social investors.[7] In 2015, Rang De collaborated with OnePlus for the Joy of Giving Week.[8] Rang De is supported by ICICI Foundation, CSO Partners, Center for Bharatiya Management Development, Association for Sustainable Community Development, and Tata Trusts.[5][9] Over 93% of the borrowers are women. Rang De works with around 16 field partners across the country.[1]

On 8 March 2017, at the Yeswanthpur village in Kolar, the Swabhimaan initiative was launched to impart financial literacy to village women, give customised credit, and enable them to make informed financial decisions. Self serviced kiosks called Bioscope are created to impart financial education.[10][11] Bank accounts created under the Pradhan Mantri Jan Dhan Yojana, eKYC, Aadhaar, and Unified Payment Interface (UPI) is used to disburse credit.[12][13][14][15]

Concept

[edit]

Rang De connect social investors with under-served communities of borrowers, enabling the low income households to get financial help. Social investors can begin by lending as low as INR 100 through the Rang De platform. It partners with non-governmental organisations and micro-lending institutions to screen borrowers at the grassroots level. The platform keeps track of disbursements and returns, which the investor can withdraw or reinvest.[5][1][16]

Recognition

[edit]
  • 2011 - Manthan South Asia Award[17]
  • 2012 - Ashoka Fellowship[18]
  • 2013 - Bangalore Heroes Award[19]
  • 2013 - Millennium Alliance Award[20]
  • 2014 - Bihar Innovation Forum Award

The Development Marketplace (DM) of the World Bank supports Rang De.[21]

References

[edit]
  1. ^ a b c d Thomas, Anu (27 September 2018). "How Rang De is using crowdsourcing to make micro loans cheaper". The Economic Times. Retrieved 2 October 2019.
  2. ^ "Inteview [sic] with Rangde.org founder Ram N". India Microfinance. 24 July 2009. Retrieved 15 October 2019.
  3. ^ Hynes, Casey. "The Long Game: How Developing Countries Can Get Microfinance Right". Forbes. Retrieved 24 March 2020.
  4. ^ "Small investments usher in big change". Deccan Herald. 13 August 2010. Retrieved 24 March 2020.
  5. ^ a b c Katiyar, Prerna (27 June 2010). "Rang De: India's first online platform for micro-credit". The Economic Times. Retrieved 11 October 2019.
  6. ^ Variyar, Mugdha (7 March 2017). "Rang De helps rural women use India Stack to avail micro loans". The Economic Times. Retrieved 15 October 2019.
  7. ^ "Rang De's Online Micro-credit Service: "Less Than 1% Of The Investors Take Their Money Out"". MediaNama. 24 January 2013. Retrieved 15 October 2019.
  8. ^ "OnePlus and RangDe.org Come Together to Harness the 'Power Of One'". Moneycontrol. Retrieved 11 October 2019.
  9. ^ Knapp, Sarah (27 June 2008). "Microcapital Story: Microfinance Brokerage Sites Rangde.org and dhanaX.com Launch in India Following Kiva.org". MicroCapital. Retrieved 15 October 2019.
  10. ^ "Bioscope bank". The New Indian Express. Retrieved 15 October 2019.
  11. ^ Thomas, Anu (8 March 2017). "Rang De launches Swabhimaan to provide customised credit to women in rural India". The Economic Times. Retrieved 15 October 2019.
  12. ^ Variyar, Mugdha (7 March 2017). "Rang De helps rural women use India Stack to avail micro loans". The Economic Times. Retrieved 15 October 2019.
  13. ^ Variyar, Mugdha (7 March 2017). "Rang De helps rural women use India Stack to avail micro loans". The Economic Times. Retrieved 15 October 2019.
  14. ^ "Information and Communication Technologies and Rural Development (Summary in Spanish)". Information and Communication Technologies and Rural Development. 30 July 2002. doi:10.1787/9789264193079-sum-es. ISBN 9789264186705.
  15. ^ Dwivedi, Yogesh; Rana, Nripendra P.; Slade, Emma L.; Shareef, Mahmud Akhter; Clement, Marc; Simintiras, Antonis; Lal, Banita (23 April 2018). Emerging markets from a multidisciplinary perspective challenges, opportunities and research agenda. ISBN 978-3319750125. OCLC 1020073121.
  16. ^ Krishna, Geetanjali (12 December 2014). "NGO Rang De's peer to peer lending platform on internet makes big out of small". Business Standard India. Retrieved 15 October 2019.
  17. ^ "Manthan Awards 2011 - Digital innovations for the larger good - 1 | Microcredit | Loans". Scribd. Retrieved 15 October 2019.
  18. ^ "Fellow Connect February 2012". Issuu. Retrieved 11 October 2019.
  19. ^ "Heroes set the bar high". Bangalore Mirror. 10 December 2013. Retrieved 11 October 2019.
  20. ^ "Millennium Alliance". www.millenniumalliance.in. Retrieved 11 October 2019.
  21. ^ Schramm, Dana Melanie; Carstens, Jakob (2014), "Crowdfunding für Startups", Startup-Crowdfunding und Crowdinvesting: Ein Guide für Gründer, Springer Fachmedien Wiesbaden, pp. 11–51, doi:10.1007/978-3-658-05926-2_3, ISBN 9783658059255
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=RangDe&oldid=1208337995"