Ram is the co-founder & Chief Executive Officer of Rang De. He was chosen for the Ashoka Fellowship in 2012 in recognition of Rang De’s game-changing efforts to lower the cost of credit. Ram is generating a systems-changing way of delivering credit services to the poorest individuals by blending peer-to-peer lending with a strong back-end delivery system that controls interest rates. By carefully prequalifying citizen organizations (CO’s) and establishing robust back-end processes, he repurposes CO’s to act as branches and for the first time, deliver loans to the poor at interest rates as little as 8.5% flat p.a.
Rang De is a pioneering web based social initiative that supports low income households with access to low cost capital. Through an online platform, Rang De enables individuals to make social investments of Rs.100 or more in support of specific individuals. Social investors get back their money with a nominal financial return.
Rang De has so far supported more than 30,000 low income households across India and raised more than Rs.25 crores as low cost loan capital.