Powering Rural Aspirations: SAVE Solutions on Credit, Housing, and Livelihoods
By Rusen Kumar
NEW DELHI (India CSR): In this exclusive interview, Rusen Kumar, Managing Editor, India CSR, speaks with Ajeet Kumar Singh, Co-Founder and Managing Director of SAVE Solutions, about the organisation’s journey from a rural-focused financial services provider to a diversified platform advancing financial inclusion. He shares how SAVE was founded with a strong grassroots vision—to make formal financial services accessible to underserved rural and semi-urban communities—and how this vision continues to guide its expansion across banking services, microfinance, MSME lending, and housing finance.
Ajeet Kumar Singh also discusses the evolving regulatory landscape, opportunities in Tier 3 to Tier 6 markets, and the growing demand for inclusive credit and affordable housing. He highlights SAVE’s initiatives in empowering women entrepreneurs, strengthening livelihoods, and promoting financial literacy. The conversation offers valuable insights into how locally driven, inclusive financial models can support sustainable development and unlock economic potential in India’s underserved regions.
1. SAVE Solutions began as a rural-focused financial services company. What was the foundational vision, and how has it evolved over the years?
SAVE Solutions was founded with a simple but powerful vision: to make formal financial services accessible to underserved rural and semi-urban communities. We believed that financial inclusion cannot be driven only from metros; it must start at the grassroots, by people who understand local realities.
Initially, our focus was on enabling banking access through the Business Correspondent (BC) model, bringing basic financial services closer to rural households. Over time, as trust deepened and customer needs evolved, so did our offerings. Today, SAVE has grown into a diversified financial services group with presence across banking services, microfinance, MSME lending, and housing finance, while staying rooted in its original inclusion-first philosophy.
2. How do you view the current regulatory environment for BCs and NBFCs? What policy changes can further accelerate financial inclusion?
The regulatory environment has become more structured and mature over the years, which is a positive development. Increased focus on governance, technology adoption, and customer protection has strengthened confidence in BCs and NBFCs as responsible financial intermediaries.That said, financial inclusion is still a work in progress. Further acceleration can come from stricter KYC and documentation norms to mitigate the risk associated with low ticket-size borrowers. Wider recognition of cash-flow-based underwriting can also help in assessing the true repayment capacity of borrowers who may not have formal income records. In addition, support for digital-first and phygital delivery models will be crucial in expanding reach, while encouraging co-lending and partnerships between banks and NBFCs can help scale credit delivery more efficiently. Such measures can help reach segments that are economically active but remain underserved by traditional banking systems.
3. What markets or segments are you prioritising for the next phase of expansion?
Our next phase of growth is clearly focused on Tier 3 to Tier 6 towns and rural belts, where credit demand is real but access remains limited. We are particularly prioritising segments such as affordable housing finance, micro and small enterprise lending, and livelihood-linked credit for self-employed and informal workers. These markets offer strong fundamentals aspiration, income stability, and repayment discipline when approached with the right products and local understanding.
4. What initiatives do you have around women-led enterprises, livelihood enhancement, or micro-entrepreneur empowerment?
Women borrowers and entrepreneurship have now become central to our inclusion strategy. BC Sakhis are playing a vital role in strengthening financial inclusion at the grassroots level. We actively support women-led micro-enterprises and self-help-linked livelihoods by providing access to timely and appropriately structured credit. Beyond lending, we also focus on financial literacy and awareness, encouraging income-generating activities, and offering flexible repayment structures aligned to cash flows. We have consistently seen that when women are financially empowered, the impact extends beyond the individual to families and entire communities.
5. What led SAVE to enter the housing finance segment, and what specific gaps did you see in the affordable and rural housing credit market?
Our entry into housing finance was a natural extension of our work on the ground. As we engaged with rural and semi-urban families over the years, one aspiration stood out clearly the desire to own a safe, permanent home.
We observed several gaps in the affordable and rural housing credit ecosystem, including the limited availability of formal housing finance for informal income households, rigid documentation requirements, and low penetration in non-metro geographies. SAVE Housing Finance was created to bridge these gaps by offering responsible, affordable, and accessible housing loans, especially for first-time homebuyers in underserved markets.
6. What trends are you observing in housing demand in Tier 3–Tier 6 markets?
Housing demand in Tier 3 to Tier 6 markets is steadily rising, driven by multiple factors such as migration from kutcha to pucca housing, government housing initiatives and subsidies, an aspirational shift toward asset ownership, and improving local economic activity. Customers in these markets are value-conscious, EMI-sensitive, and long-term oriented.
With the right product design and local engagement, repayment behaviour has been encouraging. We believe these markets will be the next growth engine for affordable housing in India.
About the Author
Rusen Kumar, Editor of India CSR, is a renowned thought leader in the field of Corporate Sustainability and Corporate Social Responsibility (CSR). He regularly writes insightful articles and conducts interviews with industry leaders, policymakers, and development practitioners, promoting dialogue on responsible business and sustainable development.
