Strong operational base formed to support poor and downtrodden in society currently operating in 25 slums across Bengaluru covering 3148 members and their families.
Lifeline started in 1-July-2010 in Bengaluru to provide interest free micro-loans to root out usurious lending to the poor. It also empowers the poor through education, healthcare, destitute& nutrition support and citizen service centres.
In 10+ years since inception, rolling over a corpus of Rs 39 Cr over 13 times, Lifeline Foundation has disbursed 27,365 loans totalling to more than Rs 17.5 Cr (USD 2.68 Mn).
In FY 21-22, microfinance activity was closed in Q1 and partially in Q4 (due to Covid). 3,102 loans worth 222 lakhs (USD 0.3 Mn) were disbursed.
In FY 21-22, Rs 1.31 cr (USD 0.17 Mn) of funds were spent in charitable acts such as education scholarships, medical aid, health camps, ration, food& debt clearance. Lifeline continued to fight strongly against
Lifeline has received the section 12AA and 80G exemptions from the Income Tax dept.
The software implementation across branches, which ceased due to operations shutdown for 9 months, has commenced. Over the next year, the entire operations of lifeline will be technology driven.
