Monday, March 25, 2019
News

VFS launches SME lending across ten states

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Kolkata | Tuesday, Apr 24 2018 IST
VFS, an RBI registered NBFC-MFI, has launched SME loan to reach out to huge underserved and most neglected sectors of economy and aims at reacing out to 1 Lakh MSME within 5 years span.

In line of diversify its product portfolio VFS has started financing SME sector upto a maximum limit of Rs. 25 Lakh with immediate effect. With 20 years of experience in microlending VFS now takes a step forward to cater to a wider segment which contributes a significant percentage of the national GDP.

Commenting on the development, Dr Kuldip Maity, MD & CEO, VFS, said, "Availability of funding has always been a serious concern for SME sector. Reports on SME sector have shown the huge gap between demand and supply in fund accessibility. We have a ready platform and a network across ten states and we are aiming at making SME lending a great success story for both VFS and small and medium entrepreneurs. ''"With a healthy repayment rates in our micro lending experience, we are confident of creating a conducive entreprenural environment for aspiring new age businesspersons as well as existing SME leaders. We hope to reach out to one lakh MSME in a period of 5 years, which will lead to a GLP of more than Rs. 1000 Cr", he added. Village Financial Services Limited is a microfinance company registered as an NBFC under Reserve Bank of India under Section 45 IA. Village Financial Services (VFS) has started Micro Finance Operations in the financial year 2005-2006 having its head office at Kolkata (West Bengal). Since then, VFS has grown and has touched the lives of many underprivileged and backward section of our society by providing them credit for income generating activities and helping them to become economically self sufficient, sensitizing women about empowerment issues and bringing about a qualitative change in them and their families related to standard of living & their own status in the society.

VFS is engaged in the business of lending to the women borrowers under Joint Liability Group (JLG) based individual lending model and is operating in rural and urban areas throughout West Bengal and eastern part of Bihar. The main thrust of the Organization is to work with women who are socially and economically excluded from the mainstream financial services but are doing some income generating activities.

UNI SJC KK

-- (UNI) -- C-1-1-DL0212-1340211.Xml

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Ex-aide of Dawood Ibrahim dead...
Mahagathbandhan exists because Oppositio...
Will abuse those who hurl abuses at Paki...
Woman gang-raped in hospital, 5 detained...
Gurugram assault: Two more arrested, tal...
Delhi to be cloudy, scattered rains fore...
More...    
 
 Top Stories
Sad day for Indian aviation, says S... 
Loan waiver, free power supply not ... 
Uterine fibroid embolisation safe a... 
Rabri Devi, Tejashwi, Raghuvansh Pr... 
Sukh Ram returns to Congress, calls... 
Jaivardhan Singh confident about hi... 
Malinga likely to play in Mumbai In... 
Meet the 'Lord of Anonymity', plane...