Vikram Akula
- January 8, 2024
- Founder
Quick Facts
Vikram Akula Biography
| Name | Vikram Akula |
| Birthday | Nov 7 |
| Birth Year | 1968 |
| Place Of Birth | Medak |
| Home Town | Telangana |
| Birth Country | India |
| Birth Sign | Scorpio |
| Parents | Akula V. Krishna; Padma Krishna |
| Spouse | Malini Byanna |
Vikram Akula is one of the most popular and richest Founder who was born on November 7, 1968 in Medak, Telangana, India.
Upon graduating from Tufts, Akula returned to India for a short while in 1990 and worked with the Deccan Development Society, a small grassroots rural non- profit organization. He then returned to USA and worked for the Worldwatch Institute in Washington D.C. as a researcher, where he wrote articles about poverty and sustainable development. During his Fulbright, Akula returned to the Deccan Development Society, where he helped manage the organization’s microfinance program. Akula saw the limitation of non-profit microfinance and proposed a more market-based approach. He outlines his philosophy in his book, A Fistful of Rice; My Unexpected Quest to End Poverty Through Profitability, published by Harvard Business Press in 2010.
In 1996, Akula completed his Fulbright and went to the University of Chicago to pursue his Ph.D, which he completed in 2004. As a Ph.D. student, he created a business plan for a for-profit microfinance company and in December 1997, Akula returned to India to set up Swayam Krishi Sangam (SKS) as a vehicle to implement the plan. Initially set up as a non-profit, SKS converted to the for-profit SKS Microfinance in 2005. SKS Microfinance secured a round of equity investment of $11.5 million in March 2007, led by Sequoia Capital. In November 2008, SKS raised an equity investment of $75 million, the largest equity investment raised by an MFI to that date. SKS raised additional equity from Infosys founder Narayan Murthy and Bajaj Allianz, which represented the first-ever microfinance investment by an insurance company.
Vikram Akula Net Worth
| Net Worth | $5 Million |
| Source Of Income | Founder |
| House | Living in own house. |
Vikram Akula is one of the richest Founder from India. According to our analysis, Wikipedia, Forbes & Business Insider, Vikram Akula 's net worth $5 Million. (Last Update: December 11, 2023)
Akula’s father, Akula.V. Krishna, was a surgeon who settled in Schenectady, New York, where Akula went to school. Akula graduated from Niskayuna High School in 1986 and enrolled at Tufts University, where he graduated as a double major in philosophy and English with honors in 1990. He went to Yale University for a M.A. in International Relations, and was awarded a Fulbright scholarship for an action-research microfinance project in India in 1994–95. He completed his Ph.D. in Political Science from the University of Chicago in 2004.
Height, Weight & Body Measurements
Vikram Akula height Not available right now. Vyacheslav weight Not Known & body measurements will update soon.
Who is Vikram Akula Dating?
According to our records, Vikram Akula married to Malini Byanna. As of December 1, 2023, Vikram Akula’s is not dating anyone.
Relationships Record : We have no records of past relationships for Vikram Akula. You may help us to build the dating records for Vikram Akula!
Akula resigned from the role of Executive Chairperson on November 23, 2011 and he relinquished his role as a promoter of SKS on May 3, 2014.
Facts & Trivia
Vyacheslav Ranked on the list of most popular Founder. Also ranked in the elit list of famous people born in India. Vikram Akula celebrates birthday on November 7 of every year.
In an investigative article, Erika Kinetz of the Associated Press, wrote,”a profound shift in values and incentives at SKS began in 2008″ when Akula left the CEO role. “Boston-based Sandstone Capital, now SKS’ largest investor, made a major investment. It joined U.S. private equity firm Sequoia Capital, which funded Google and Apple and is SKS’ largest shareholder, on the board of directors. Akula, who had been chief executive in the company’s early days, stepped down in December 2008 but stayed on as chairman. The company brought in new top executives from the worlds of finance and insurance. SKS also began transferring more loans off its books, selling highly rated pools of loans to banks, which then assumed most of the associated risk of borrower default. That freed SKS to push out more and bigger loans. In December 2009, SKS launched a massive sales drive. The “Incentives Galore” program ran through February 2010 — just one month before the company filed its IPO prospectus.” She noted that Akula tried to stop this. “In spring 2011, Akula began circulating a plan to spend $10 million to train financial counselors who would make sure clients weren’t getting into too much debt and used their loans productively, according to people with firsthand knowledge of the proposal. The plan was never adopted.” Press, Associated (2012-02-24). “SKS Under Spotlight in Suicides”. Wall Street Journal. ISSN 0099-9660. Retrieved 2017-12-05 .
Where is Vikram Akula now?
Akula currently serves as Chairperson of VAYA Finserv Private Limited. Founded in 2014, the India-based company markets financial services to low- income groups on behalf of partner banks.
What is BFIL member?
Bharat Financial Inclusion Limited (formerly known as SKS Microfinance Limited) BFIL is a banking & finance company (NBFC), licensed by the Reserve Bank of India. It was founded in 1997 by Vikram Akula, who serve as its executive chair until working.
Who is shalabh Saxena?
The NBFC announced that Shalabh Saxena has accepted the position of managing director and chief executive officer of the company. Saxena is currently serving as the MD & CEO of Bharat Financial Inclusion, one of the leading microfinance institutions in the country.
What happened SKS Microfinance?
Rechristened Bharat Financial Inclusion Ltd (BFIL), SKS is now being merged with IndusInd Bank Ltd.
What is SKS loan?
The term of these loans is for 50 weeks and the payment schedule for principal and interest is on weekly basis. The annual interest rate for these loans is 19.75% and loan processing fee is 1%. (2) Mid Term Loans (MTL) also known as Vriddhi – Here the first time loan amount ranges from Rs 9,100 to Rs 15,010.