Aadhar Housing Finance’s distribution innovation, ‘Aadhar Mitra’, referral associates being the last-mile link to connect affordable home buyers and to bridge the financial inclusion gap between developed urban India and under-developed rural India per se, is receiving great response from the ground level. The low-cost, high impact distribution model, which has already won industry accolades, now has 6000+ ‘AadharMitras’ who are unemployed or self-employed local youth with or without any knowledge of home Loan/financial industry. These ‘AadharMitras’ will not only market the company’s home finance offerings but also will be one point contact for the local low-income or economically backward customers.
The company has done massive orientation drives across India in September to train and reconnect with these referral associates which included role-play based workshops, product and process training, sensitisation to the low-income segment and the role of AadharMitras. Speaking on the initiative, Deo Shankar Tripathi, MD & CEO of Aadhar Housing Finance said, “Aadhar Mitra is not only a unique distribution model but also a sustainable social and economic upliftment model which is a win-win for each stakeholder. The company gets to reach the remote locations economically without opening a physical branch; it promotes financial inclusion and access to organised home finance for the rural & sub-urban low-income homebuyers, the local unemployed or self-employed youth also gets to enhance their income through successful referrals. This supports the government’s mission of ‘Housing for all by 2020’ in every possible way.
The company expects 20% of its business in the FY 2019-20 to be sourced by AadharMitras. They will also have access to digital technology platforms to stay connected with the company and customers.