Partnership is at the Core of Lok Suvidha’s DNA

From its inception, Lok Suvidha has been built on the belief that collaboration is the most effective way to expand responsible credit access in India’s underserved markets. Partnerships are not an adjunct to our business—they are embedded in our DNA and continue to remain a core pillar of our growth strategy.

Our Journey Began with a BC Partnership (2008)

Lok Suvidha was founded in September 2008 with a clear objective: to provide affordable and accessible financing solutions to consumers purchasing two-wheeler vehicles, particularly in semi-urban and rural India. At a time when formal credit penetration was limited and traditional lending models were unable to reach first-time borrowers, Lok Suvidha adopted an innovative and collaborative approach.

Our journey began as a Business Correspondent with Nagpur Nagrik Sahakari Bank, marking the foundation of a partnership-led operating model. Through this BC arrangement, Lok Suvidha combined its deep understanding of local markets, customer acquisition capabilities, and on-ground execution with the balance sheet strength and regulatory framework of partner banks. This model enabled us to serve unbanked and underbanked customers efficiently while maintaining strong credit discipline.

Scaling Through Financial Institution Partnerships (2008–2018)

Between 2008 and 2018, Lok Suvidha scaled its operations primarily through Business Correspondent (BC) partnerships with a range of cooperative banks and NBFCs. During this period, we worked extensively with leading institutions such as L&T Finance and ICICI Bank, building long-standing and trusted relationships.

These partnerships enabled Lok Suvidha to rapidly expand its geographic footprint across multiple states, while continuing to focus on underserved and first-time borrowers. Importantly, the BC model helped us transform the constraint of a low capital base into a strategic advantage—by leveraging the balance sheets of our partner institutions, we were able to grow responsibly, strengthen our operating capabilities, and maintain asset quality without compromising prudence.

Over this decade, partnerships were instrumental in shaping Lok Suvidha’s operating philosophy, risk culture, and customer-centric approach. The experience gained during this phase laid a strong foundation for sustainable growth.

Transition to an RBI-Registered NBFC (2018)

In 2018, as part of our long-term strategic vision, Lok Suvidha obtained an NBFC license from the Reserve Bank of India (RBI). This milestone enabled us to lend directly from our own balance sheet, diversify funding sources, and strengthen governance and compliance frameworks.

Importantly, becoming an NBFC did not signal a departure from our partnership-led approach. Instead, it allowed us to evolve from being only a BC to becoming a credible co-lending and co-origination partner for banks and financial institutions.

Partnerships Continue to Drive Our Growth

Even today, partnerships remain central to Lok Suvidha’s business model. Approximately 50% of our Assets Under Management (AUM) is managed through BC, co-lending, and co-origination arrangements with partner institutions.

Our current partnership models are designed to create win-win outcomes:

• For partner institutions: Access to high-quality origination, strong last-mile execution, and diversified retail assets
• For customers: Faster credit access, transparent processes, and products tailored to their mobility and livelihood needs
• For Lok Suvidha: Capital-efficient growth, risk sharing, and long-term scalability

A Collaborative Future

As Lok Suvidha continues to grow as a diversified retail NBFC, we remain committed to strengthening and expanding our ecosystem of financial partners. Whether through BC arrangements, co-lending structures, or customized partnership models, collaboration will continue to be a defining element of how we operate.

Our journey—from a BC partnership with a cooperative bank in 2008 to a regulated NBFC with deep institutional alliances—underscores one simple truth: partnerships are not just part of our history; they are the foundation of our future.

Our Trusted Partners