Kolkata-based microfinance company Village Financial Services (VFS), on Friday, announced the opening of its 201st branch at Dhamtari under Dhamtari district, of Chhattisgarh.
Village Financial Services Limited is a microfinance company registered as an NBFC under Reserve Bank of India under Section 45 IA. VFS has started Micro Finance Operations in the financial year 2005-2006 having its head office at Kolkata (West Bengal). VFS, has set itself a target to reach out to 20 States within 2020 with a customer base of around 20 lakhs.
"We are in the process of infusing fresh funds to support the growth and plan to enter five more states by FY19," Kuldip Maity, MD and CEO, VFS, said.
With the Dhamtari branch, the microfinance company now has crossed 201 branch offices across Uttarakhand, Madhya Pradesh, Chhattisgarh, Tripura, Odisha, Sikkim, Assam, Jharkhand, Bihar and West Bengal covering over 13,500 villages with a total customer base of 3.56 lakh.
VFS ended FY-18 with loan book of Rs 748 crore outstanding.
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