Brief History & Summary
- 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.