The Reserve Bank of India has made it mandatory that the aggregate exposure by an investor across all Peer to Peer Lending Platforms should be less than or equal to Rs. 10,00,000 and
the total exposure of a lender to a single borrower should be less than or equal to Rs. 50,000.

Success Story of Kariyappa


Budihal (Karnatka): Kariyppa says his age can be anywhere between 45-50 years. He has lived most of life in abject poverty and used to work as a daily wager on the fields with little income to support his family.Two years back MicroGraam enrolled Kariyppa and he was given his first loan through his daughter-in-law. Kariyppa's life has changed altogether. He now owns a small shop in his native village of Budihal located some 300 km from Bangalore in the North Karnataka where every evening, Kariyppa sells Egg-Biryani (rice-based meal that consists of layering cooked rice and egg). From this shop alone, he now makes a daily saving of Rs 100, which he deposits at local cooperative. MicroGraam first gave him a lone of Rs 15000 to purchase goats and construct his shop. With the support and training of Vanasiri Rural Development Society a local NGO which works in collaboration with MicroGraam, he was trained in rearing and managing the herd. With proper care and vaccinations, his herd has grown and after selling his first stock, Kariyppa still has 18 goats with him now. He also paid back his first loan fully. Kariyppa will be now given a second MicroGraam loan of Rs 50000 to support his future endeavor in building a proper goat farm on his freshly purchased small piece of land. His elder brother is very proud of Kariyppa who has become a role model for his fellow villagers. In extreme North Karnataka many villages live in abject poverty and mostly dependent on monsoons to cultivate their lands. MicroGraam along with the local NGOs has intervened like at many other places in India to impart practices of allied agriculture along with their regular work to increase their monthly income. Kariyppa's daughter now goes to school regularly as she doesn't have to worry anymore from where her next meal is coming.