BWDA Finance Limited commenced its operations in 2003. The parent organization Bullock-cart Workers Development Association (BWDA) registered under the Tamil Nadu Societies Registration Act was established on 2nd October 1985 with the primary objective of empowering low-income households primarily bullock-cart workers, rural artisans, poor women and children in South India.

In 1988, BWDA started forming Self Help Groups (SHGs) of bullock cart workers’ families, especially women to build self-sufficiency and facilitate empowerment and poverty alleviation under the IFAD Programme through Tamil Nadu Women Development Corporation. In 1992, BWDA started working with other low-income households. BWDA also linked SHGs to local banks to meet their credit needs for managing their livelihood and income-generating activities. Later in 1999, BWDA started direct lending through the BWDA Microfinance Program to improve access to finance with a loan from RMK.

Realizing the constraints of the legal form and the huge potential for growth in the future it was decided to bring microfinance operations under a separate legal entity. In 2003, BWDA acquired an NBFC, renamed BWDA Finance Limited (BFL) to streamline its financial inclusion operations. BWDA Finance Limited was reclassified as NBFC – MFI by RBI in April 2018. Following its reclassification, BFL partnered with various financial institutions to promote financial inclusion and expand its strategic associations.

An Institutions promoted by
Dr. C. Joslin Thambi.