Janalakshmi Social Services

Janalakshmi Social Services (JSS) a section (25) not-for-profit company registered in June 2006, is geared to address the multiple facets of exclusion including providing small savings, financial literacy and advisory services and activities that promote the development and economic well being of the target base. JSS's endeavor is to constantly understand the world of the urban excluded customer base and look out for opportunities that are central to inclusion. Once an opportunity is identified, JSS develops a model (business or social business models) that is sustainable and scalable and delivers on the promise of the opportunity. JSS then transitions the model either into existing operating companies or sets up new companies that fulfill on the new product/opportunity that is present. Some models require JSS to build internal capacity to implement and manage it in a sustainable manner.

Some notable initiatives undertaken by JSS include:

Janaadhar Constructions Pvt Ltd

Janaadhar Constructions Pvt. Ltd., floated by Janalakshmi Social Services (JSS), is a unique affordable housing development company that seeks to blend market principles with a not-for-profit spirit. A systematic focused and professional effort, Janaadhar aims to build affordable, high-quality homes - to create an inclusive society and a better quality of life.

Janaadhar brings together the expertise of Janalakshmi Social Services, Sterling Developers Private Limited and Venkataramanan Associates in this breakthrough venture.

Janaadhar Shubha, the pilot project of Janaadhar Housing (a sister concern of Janalakshmi), is primarily aimed at the blue-collared segment who do not have access to housing and home loans. Planned as an affordable housing solution, Janaadhar Shubha is being developed on an 11.5 acres plot on the Attibele-Anekal Road, on the outskirts of Bengaluru city.

For more details please visit www.janaadhar.com

Partnership with Axis Bank

Janalakshmi Social Services started a new initiative this financial year partnering with Axis Bank, the 3rd largest Private Bank in the Country. Axis Bank embarked on its first Urban Financial Inclusion Initiative which was formally launched in Bengaluru on 9th September 2010, expanded to Chennai in Dec 2010 and Delhi/ NCR in March 2011. This Urban Financial Inclusion initiative is aimed at reaching out to the urban underprivileged and providing them with the facility of convenient banking without having to go to a Bank Branch to transact. Janalakshmi Social Services would act as the Bank's Business Correspondent for this initiative.

Initially through this initiative, the partnership offered a No Frills Savings Bank account along with the facility of enabling cash transactions to the unbanked and under-banked population. However, we have started offering Life Insurance and Non Life Insurance products at an affordable prices in partnership with Axis Bank and its Bancassurance partners. Through this initiative, the Bank expects to be able to reach out to maximum number of unbanked and under-banked customers in the Urban Financial Inclusion space.

This Urban Financial Inclusion initiative will be extended to other urban locations shortly, through this initiative JSS has already enrolled close to 200,000 customers and has a very ambitious customer acquisition plan not only for the current fiscal but for the next 5 years.