Micro Finance ( MF) took its momentum in southern parts of India since its inception. Due to several reasons mF could not pick its momentum in eastern part of India comprising Orissa, West Bengal, Jharkhand and North Eastern States. One of the reasons is that most of the MFIs started their work from southern parts of India which in turn paved the way to cover more clients in southern states. With all initiatives Microfinance in urban area is negligible in India. With this backdrop KAS Foundation, a Section 25 Company having its Registered Office in Trichy, Tamilnadu, started its work from Puri, Orissa in August 2003 to provide various Microfinance services to the poor households. The Founder Mr. S.Kathiresan was formerly the General Manager of Madurai and Executive Vice Presedent of ICICI Bank. He selected Orissa because In the year 2003 only 2% of the Microfinance business with respect to India was done in Orissa in terms of loan outstanding and client coverage.
Initially KAS Foundation gave emphasis to form groups in different parts of Orissa both in rural and urban areas to provide them financial services. By March 31, 2004, 726 SHGs had been formed with all hardships. Since the year 2005 the outreach has gone up to enviable heights - 8448 SHGs formed by March, 2005. During 2007-08, KAS had 22,000 SHGs and 45,000 JLGs.
From 2008-09 onwards KAS has changed its mission and focusses on community develoment activities. 22 staff members of KAS Foundation have been cleaning the Ananda Bazaar in Jagannatha temple, Puri from morning 6 to night 10 from May 2006 onwards as a service to the devotees of Lord Jagannath. KAS is maintaining a Creche for 25 tribal children at the Seva Samiiti of Smt. Rambha Devi at Haridaspur, Jajpur District, Orissa. during the last 2 years. KAS is involved in the rehabilitation of drug adictted youth in Bhubaneswar through SAHARA, an organisation supported by CYSD. KAS is operating 2 Bolero Ambulances in the remote jungle areas of Malkanagiri District, Koraput District and Rayagada District; the rate charged is only 50% of the Governemnt rate for the tribals.
KAS is conducting awareness programmes relating to HIV AIDS, Malaria and TB in Orissa covering about 20,000 women members of the SHGs and JLGs with the help of Freedom from Hunger, Reach India, LEPRA, US Aid and Capital Hospital, Bhubaneswar. Reiki, the very effective healing programm was conducted for 750 poor women in Orissa in 2008-09. "Who Am I" programmes are being conducted for the employees of KAS on a regular basis. KAS is getting associated with some of the activities of St. Theressa's MC at Bhubaneswar.
KAS is actively associated with the Orissa Blind Association in its various activities on a regular basis. KAS has donated a computerised Braille Press to the members of the Association at a cost of Rs.3.50 lakhs, which is the only computerised press available in Orissa as on date.
