The word “Jagaran” has been derived from Sanskrit and means “a state of wakefulness”. Jagaran intends to awaken the economically challenged sections of the society; get them rid of despair and assist them in building a better life. Jagaran Microfin Private Limited is a wholly owned subsidiary of GTFS Multi Services Limited and was established with the distinct aim of providing a wide range of financial services, especially in the backward and rural areas. The management conceived the idea of commencing a microfinance business by acquiring M/s SBT Consultants Private Limited, incorporated on 12th January, 1993, a Category B Non-banking Finance Company (converted as NBFC on 18.03.1998) registered under RBI to promote microfinance business. Subsequently, the name was changed to “Jagaran Microfin Private Limited”. Jagaran commenced its microfinance operations on December, 2010.
Jagaran has been playing an important role in empowering women to achieve their own identity and enhancing their daily livelihood. This new phenomenon has also given economic power in the hands of women for which they were earlier totally dependent on males. Economically independent women feel more confident about their personal lives. Microfinance has been considered an important development policy that aims to reduce poverty, vulnerability and inequality. Organizations explicitly perceive microfinance as a tool to fight for women’s rights and independence. Coming up with the objective of financial viability, the organization has brought a positive impact in their lives.