Equitas commenced operations in December 2007 in the Indian state of Tamil Nadu and is registered as a non bank finance company. Its mission is to extend microcredit to people who are otherwise unable to access finance from mainstream banking channels. The MFI extends primarily loans to its clients using the Grameen Bank model through its more than 80 branches and 1000 employees. It works with partners to extend nonfinancial services to its clients in the areas of children's education, vocational training and health. In 2008, it received the "Unitus Accelerator" award for exemplifying the goal of accelerating microfinance through innovation, growth, and commitment to client needs.