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Business Economy


Aadhar Housing launches branches in 10 states for low income group

New Delhi, Aug 24 (UNI) Aadhar Housing Finance Ltd, one of the largest housing finance companies, on Friday launched its new branches in Gujarat, Maharashtra, Madhya Pradesh, Punjab, Delhi, Rajasthan, Uttar Pradesh, Karnataka, Tamil Nadu and Kerala to empower the low income segment across the nation and avail them with essential financial services to secure a home.
Aadhar's strategy is aligned with the government's initiative of "Housing for All" and focuses on the organisation's aim to facilitate financial inclusion through a wider outspread. It is committed to serving home buyers from the low income group of the economy by enabling better access to Aadhaar's customer-centric solutions and providing the benefit of Pradhan Mantri Awaas Yojana (PMAY).
Speaking on the occasion, Mr Deo Shankar Tripathi, MD & CEO, Aadhar Housing Finance Ltd said, "Aadhar has expanded the business to offer valuable financial services at affordable rates. Our objective is to broaden the net of financial and economic inclusion by providing a sense of security and ultimately creating customer delight."
In 2018, the company plans to open 64 new branches to broaden their operations. Currently, Aadhar has opened up its new branches in different states covering Jetpur and Porbandar in Gujarat, Khamgaon in Maharshtra, Khategaon in Madhya Pradesh, Kaithal in Punjab, Vikas Marg in Delhi, Chittorgarh, Baran and Dungarpur in Rajasthan, Meerut (additional) in Uttar Pradesh, Ramnagar and Doddaballapur in Karnataka, Tambaram in Tamil Nadu as well as Kannur and Trivandrum in Kerala.
Apart from establishing a nation-wide network, Aadhar has adopted an innovative approach of a Hub and Spoke model to reach population beyond tier 1, 2 and 3 cities. The company is to increase its spoke locations from currently 1500 to 2500 which will be serviced by a nearby operative branch.
These new spoke locations will have a Resident Executive (RE) responsible for sourcing new business and providing quality customer service. The REs will develop their own sourcing channels - 'Aadhar Mitra' by appointing unemployed youth, local financial dealers, building material suppliers, hardware and paint stores, kirana shops, builders and developers in the vicinity. Aadhar has already activated more than 300 such spoke locations with a Resident Executive.
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