Lends support towards building an ‘Aatmanirbhar Bharat’
Mumbai (Livebharat24): Fincare Small Finance Bank (FSFB) today reports the disbursement of its first loan under Prime Minister Street Vendor’s Atmanirbhar Nidhi Scheme (PM SVA Nidhi). The scheme is aimed towards empowering and enabling the street vendors. The loan of Rs10,000/ – was disbursed to Mrs. Lakshmamma, a coconut seller in Bellandur, Bangalore. The Bank with the help of its digital initiatives was able to ensure that the total cycle of sanctioning the loan and withdrawal was hassle free.
The PM SVA Nidhi scheme is aimed at empowering individuals from marginalised sections and promoting government’s agenda of building a self-reliant India.
Mr. Rajeev Yadav, MD &CEO, Fincare Small Finance Bank said, “We are proud to be part of the PM’s vision of providing small working capital loans to street vendors under the PM Svanidhi Scheme. As a leading small finance bank we aim to take this social initiative forward and help in creating aculture of self-reliance for marginalized sections to overcome financial stress caused by the pandemic and empower them to be stronger financially.”
As of September 2020, Fincare SFB serves over 26.5+ Lakh customers in 19 States/Union Territory, has deposits worth Rs. 5,200 Crore, its loan book stood at Rs. 5,290 Crore and has a workforce of 7,700 +. With an aim to transform banking for its customers, Fincare SFB strives to cater to the needs of the base of the pyramid – micro and small enterprise segments in rural India.