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States » East

Village Financial Services launches operations in Meghalaya

Kolkata, Apr 1 (UNI) Village Financial Services Ltd, a leading Kolkata-based microfinance company (NBFC-MFI), has announced the expansion of its operations in Meghalaya with the opening of a new branch at Tikrikilla in West Garo Hills district.
With an aim to drive financial inclusion and livelihood generation, the branch will provide micro lending services to poor women residing in the region.
With this development, Village Financial Services (VFS) has also expanded its footprint to eleven states in the country.
Besides, this is the third state in the north-eastern region where VFS has marked its presence.
VFS now caters to more than 4.71 lakhs women borrowers from 238 branches across West Bengal, Tripura, Assam, Bihar, Jharkhand, Odisha, Sikkim, Madhya Pradesh, Uttarakhand, Chhattisgarh and Meghalaya.
It has also achieved the milestone of crossing the mark of Rs. 1000 crore of gross loan portfolio backed by the growth in number of borrowers.
Speaking on the development, Dr. Kuldip Maity, MD & CEO, Village Financial Services, said, '' We are happy to announce the launch of our services in Meghalaya. North Eastern region is still an underserved market with growing demand for credit and financial services. We believe there are tremendous opportunities for the MFI sector, and we aim to explore these to reach as many underbanked people as possible by expanding our footprint. We plan to open more branches in the state, and also aim to reach and positively impact the lives of rural poor. ''
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