Some Board members of Society for Model Gram Bikash Kendra (SMGBK) and a few individuals acquired Srija Chemo Pvt. Ltd.(SCPL) on March 22, 2016 solely for carrying on microfinance activities and having a well-devised plan to gradually separate them from SMGBK as per advice of various banks, including RBI and funding agencies. After achieving the qualified assets, the company has applied for reclassification as NBFC-MFI to the RBI and RBI gave its final approval on September 12, 2017 reclassifying SRIJA CHEMO PVT. LTD. as NBFC-MFI. On April 25, 2018 the Company rechristened as “GRAMEEN SHAKTI MICROFINANCE SERVICES PVT. LTD.”(GSMS)

By 2025, GSMS would like to emerge as a responsible for-profit MFI serving around 90,000 clients. GSMS would like to expand its operation by bringing significant percentage of managed portfolio on-board, to achieve its mission of providing a wide range of customized financial products as per the need of their clients. It is expected to grow at a reasonable rate to achieve a target of having loan portfolio of around Rs.250 cr. with a branch network of 60 in five states by 2025.