In the early 1990s, the microfinance business was given a fillip by innovative initiatives taken by Non-Government Microfinance Institutions (MFIs).
 
They offered micro-credit to poor people for financial and business services and for self-employment. Nevertheless, the existing banking policies, procedures and systems including deposit and loan products remained untailored to the requirements of the poor. The inadequacy of the banking sector to meet the needs of the poor despite vast infrastructure was explored by a NABARD committee. The conclusions reached were; a) the poor are bankable, b) the poor need timely & better access to services and products rather than subsidized credit and c) there is a need to build a synergy between existing group of poor people and the financial resources of banks.
 
Seba Rahara’s mission is to create opportunities for the distressed, disadvantaged and deprived segment of the society with prime focus on poor women Seba Rahara is registered as a Society on28thMarch 2006 under West Bengal Societies Registration Act, 1961. SEBA is a microfinance institution, formed for the betterment of the resource poor community in general and women in particular, in its operational hinterland. SEBA started its microfinance services in the month of June, 2006, with a disbursement of loan to groups. In the last ten years it has developed good operational structure and understanding of clients’ financial needs in the locality.