Village Financial Services starts operation in Jharkhand

With the opening of its first branch in the state at Jharkhand in Pakur district, VFSPL looks to leverage the growing business opportunities in this part of the country.

The full-service rural branch will provide micro lending services to poor women residing in the district.

The 108th branch of VFSPL in the eastern India, was inaugurated by Kuldip Maity, MD & CEO, Village Financial Services Pvt. Ltd. in presence of other government officials and VFS plans to expand its presence in the region to reach out to the rural women with the objective to provide them financial support. 

In addition, the company also aims to raise its customer base from 135000 to 170000 poor households by the end of fiscal year 2015-2016.

Commenting on development Kuldip Maity, M.D & CEO, Village Financial Services said, “We are delighted to announce the starting of our operations in Jharkhand. We are looking at a steady growth and we hope the disbursement through our NBFC MFI business would be in the range of Rs. 150 crores in the current fiscal year. Entering Jharkhand is a part of our proposed growth plan.  We are in the process of infusing more funds to support the projected growth.”