Commonwealth Inclusive Growth Foudation

Commonwealth Business Council (CBC), headquartered in London, is a non-profit organization, formed by the Charter of 53 Commonwealth Heads of Government, in the year 1997.

The United Nations and the Commonwealth Business Council signed a Memorandum of Understanding (MoU), formalizing partnership between the two organizations, in February 2008. The MoU envisages establishing Global Business Council (GBC), for cooperation between the United Nations Office for Partnerships and the Commonwealth Business Council. The objectives are, among other things, to help achieve the Millennium Development Goals.

Commonwealth Inclusive Growth Services Ltd. (CIGS), (Formerly, Commonwealth Micro Finance (India) Ltd. – CMFIL) a Strategic Partner of CBC, has been established, on 21st January 2008, with a view to bank the vast un-banked and under-banked segments of India, in an economically viable and socially relevant manner, in partnership with eligible entities. CBC had placed its then Director General, Dr. Mohan Kaul, as Non-Executive Chairman on the Board of CIGS.


As part of its vision to support the Millennium Development Goals set by the United Nations, CIGS intends to provide economically viable and socially relevant solutions in the areas of inclusive banking, healthcare and education in India, in partnership with eligible entities. CIGS aims to extend the basic banking facilities to the vast population, who had, hitherto, been having no access to secure & cost effective financial services, due to a variety of reasons.


CIGS’ end-to-end solution for Financial Inclusion would go a long way in fulfilling the banking needs of the vast unbanked & under-banked population, spread across the length & breadth of the country. In line with the existing regulatory norms, CIGS shall only handle areas related to technology and approved field-level activities, leaving Settlement and other matters related to regulatory compliance to the exclusive domain of partner banks.


Highlights

  • Strategic Partner Organization of Commonwealth Business Council, U.K.

  • Incorporated in January 2008

  • Eminent, erudite Board, headed by the Chairman Emeritus, CBC

  • Highest level of commitment to Financial Inclusion, for ensuring Inclusive Growth

  • Qualified, well experienced & result-oriented Management Team.

  • Appropriate, committed partnerships.

  • Sound systems & processes

  • Innovative solutions

  • Strong Delivery capability

  • Excellent Operations Management capability