Wednesday, Jul 15 2020 | Time 04:24 Hrs(IST)
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  • Covid-19 cases in Nashik breach 7,000

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.
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Make funds available to farmers for crop loans soon, Bhuse to officials

15 Jul 2020 | 3:10 AM

Nashik, Jul 14 (UNI) Maharashtra Agriculture Minister Dadaji Bhuse has directed the concerned officials to make the fund of Rs 870 crore, sanctioned to the Nashik District Bank under the 'Mahatma Phule Debt Relief' Scheme. available to the farmers for crop loan immediately.

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Covid-19 cases in Nashik breach 7,000

15 Jul 2020 | 1:14 AM

Nashik, Jul 14 (UNI) With addition of 187 new corona positive patients here in a single day on Tuesday, the district's tally climbed to 7,385.

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Covid-19 cases in Thane surpass 58,000

15 Jul 2020 | 12:49 AM

Thane, Jul 14 (UNI) With addition of 1,503 new corona positive patients here in a single day on Tuesday, the district's tally climbed to 58,507, a senior official from the district stated.

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Assam COVID tally at 18,666 while deaths rise to 46

15 Jul 2020 | 12:49 AM

Guwahati, Jul 14 (UNI) The COVID-19 tally continued to increase in Assam as it inched towards 20,000 mark, with the state registering 859 new cases on Tuesday, out of which 627 were in the main city Guwahati.

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Cyber crime graph against women, children sees sudden spurt - State Police

15 Jul 2020 | 12:24 AM

Shimla, Jul 14(UNI) Himachal Pradesh Police on Tuesday accepted that the state has registered a sudden spurt in the Cyber crime graph against women, children and gullible people who have been victims of black mail and have been harassed by online criminals besides being duped into withdrawing their hard earned money .

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