Tuesday, Oct 23 2018 | Time 00:36 Hrs(IST)
image
  • Biya wins seventh term as Cameroon's president
  • World Wrestling C'ship: Bajrang loses in finals to Takuto Otoguro; settles for silver
  • Five women rescued from bar in Thane
  • Mah govt stands with farmers: Minister
StatesPosted at: Apr 24 2018 6:14PM Share

VFS launches SME lending across ten states

Kolkata, Apr 24 (UNI) 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
More News
ULB victory in Jammu cleared that people punished Oppn for maligning BJP's image: Jitendra

ULB victory in Jammu cleared that people punished Oppn for maligning BJP's image: Jitendra

22 Oct 2018 | 9:33 PM

Jammu, Oct 22 (UNI) Union Minister Jitendra Singh on Monday said the results of the recently-held Urban Local Body elections clearly indicated that people of the sState, particularly in Jammu region, had punished the Opposition parties for unreasonably maligning the BJP and its top leadership, headed by Prime Minister Narendra Modi.

 Sharesee more..
EC team arrives to review poll preparedness for Assembly election in Telangana

EC team arrives to review poll preparedness for Assembly election in Telangana

22 Oct 2018 | 8:28 PM

Hyderabad, Oct 21 (UNI) A 11-member Election Commission team arrived here on Monday on a three- day visit to undertake a comprehensive review on the preparedness for the Assembly Election on December 7 in Telangana.

 Sharesee more..
Eight die, 13 injured as luxury bus rams into truck in Ahmednagar

Eight die, 13 injured as luxury bus rams into truck in Ahmednagar

22 Oct 2018 | 8:07 PM

Pune, Oct 22 (UNI) Eight passengers died on the spot and 13 others
were injured when a private luxury bus they were travelling in
rammed into a truck from behind on Pune-Ahmednagar highway in Parner
taluka of Ahmednagar district on Monday.

 Sharesee more..
Amritsar train tragedy: Congress failed to fix responsibility, alleges BJP

Amritsar train tragedy: Congress failed to fix responsibility, alleges BJP

22 Oct 2018 | 7:54 PM

Amritsar, Oct 22 (UNI) Senior BJP leader Rajinder Mohan Singh Chhina on Monday came down heavily upon the Congress government in the state for denying justice to the families, whose loved ones were killed in the train mishap at Jaura Fatak, Amritsar, during Dusshera celebrations.

 Sharesee more..

17 IAS, 11 HCS officers transferred in Haryana

22 Oct 2018 | 7:49 PM

Chandigarh, Oct 22 (UNI) Haryana government has issued transfer and posting orders of 17 IAS and 11 HCS officers, with immediate effect.

 Sharesee more..
image