Aye sets up not-for-profit company

Aye Finance, a non-banking finance company focussed on lending to micro enterprises, has set up a not-for-profit company, FAME (Foundation for Advancement of Micro Enterprises). It proposes to run its Corporate Social Responsibility (CSR) interventions through this entity.

With the launch of FAME, which is a wholly-owned subsidiary of Aye, the MSME lender wants to contribute towards the development of the communities it operates in and support and nurture the ecosystem for micro enterprises. Brij Mohan, forner Executive Director of SIDBI and widely seen as the pioneer of micro finance in India, is the Chairperson of FAME.