The microfinance firm has raised USD 3 million through the bond’s seventh edition, reflecting how social debt instruments are shaping access to credit for women entrepreneurs
August 2025 Access to affordable credit for women in rural India is still limited, even as more women step into small business activities. Instruments such as the Women’s Livelihood Bond are being used to direct money from international investors to microfinance institutions that serve borrowers at the grassroots.
This month, SAVE Microfinance, part of the Bihar-based SAVE Group, said it had raised USD 3 million through the seventh edition of the bond. The instrument is listed in Singapore and is increasingly being used by Asian microfinance lenders to bring in funds from global investors.
For SAVE, the capital will help expand its loan book and reduce dependence on a few domestic lenders. The company, which operates across rural northern and eastern India, described the raise as part of its effort to provide steady financial access for women who are often excluded from mainstream banking.
Ajeet Kumar Singh, Managing Director of SAVE Group, and Pintu Kumar Singh, Chief Financial Officer, noted that the money would go into supporting women running small enterprises such as sewing units, food stalls, and petty shops and into building stronger financial systems at the village level.
Observers say the move also signals a gradual shift in microfinance funding. Instead of relying only on Indian banks, lenders like SAVE are beginning to use blended finance structures, which give them more stable and diversified funding. That matters in a sector where continuity of credit lines can make or break outreach.
The Women’s Livelihood Bond programme, set up by Impact Investment Exchange (IIX), has already directed significant amounts of capital to lenders across Asia. Its seventh issuance, which SAVE has now joined, is another step in linking international capital markets with rural entrepreneurs in India.
For the women who borrow, the results will be measured in practical terms: more reliable access to loans, more chances to expand a small shop, and more room to run home-based businesses without falling into informal debt traps. For SAVE, the raise is less about headlines and more about giving its borrowers the credit lines they need to keep going.
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