Virutcham has been incorporated as a Non-Banking Finance Company (NBFC) on 8th July, 2008 and converted into Non-Banking Finance Company - Microfinance Industry (NBFC-MFI) on 6th June 2014. Virutcham started its Microfinance operations in November 2008. The highlights of Virutcham’s performance over the ten years of its operations are as under:
1. Disbursement of loans worth Rs. 2043.46 Million cumulative as on 31st March 2020
2. Over 50,000 poor clients (all women) with a 99.9% on time repayment rate
3. Total own portfolio outstanding of Rs. 608.15 million, as at 31st March 2020 (Rs. 516.70 million, as at 31st March 2019).
4. Funding with promoter’s capital and others Rs. 85.43 million, and borrowings outstanding of Rs. 451.46 million
from Banks and other lending institutions as of 31st March 2020.
5. Break-even within the first year of operations, and profitable track record thereafter.
6. Robust technology platform for data maintenance and MIS