Inditrade begins Micro Finance operations in Karnataka


Kemmannu News Network, 07-09-2018 07:03:41


Write Comment     |     E-Mail To a Friend     |     Facebook     |     Twitter     |     Print


Inditrade begins Micro Finance operations in Karnataka
·         First branch opened in Bellary district
·         Expect loan disbursal of appprox INR 80 crore in Karnataka in FY 2019
·         14 more branches to come up before the end of year

Bengaluru, September 06, 2018: Inditrade (erstwhile JRG) (BSE: 532745), a leading player in the agri-commodity financing and micro finance business, today launched its Micro Finance operations in the southern state of Karnataka (through its wholly-owned subsidiary Inditrade Microfinance Ltd.).

The announcement was made by Mr. Sudip Bandyopadhyay, Group Chairman of Inditrade (JRG) Group of Companies.

“We strongly believe that Karnataka has enormous potential for growth of small women entrepreneurs with its focus on industrialization, which requires ancillary and peripheral services. As a focused micro finance player, we are well equipped to provide service in an effective and efficient manner in Karnataka” said Mr. Bandyopadhyay.

Inditrade Microfinance has started operations in Karnataka with                                                                                                       its first branch in Bellary district.  It plans to open another 14 branches by the end of this year in two more districts.

Karnataka tops the list of states disbursing micro finance with INR 7,903 crore in fiscal 2018 as per the Inclusix 2018 by Crisil. Karnataka was also the top state in terms of loan amount disbursed at INR 2,219 crore in Q1 FY 2018-19 as per the MFIN Micrometer.

Supporting the vision of the Government on Digital India, the company has also launched a completely digitized process.  Elaborating further on this, Mr. Bandyopadhyay said, “Easy and quick access are the cornerstones for the success of any micro finance initiative.  With the country already moving towards becoming a digitized economy, we plan to leverage technology in fulfilling our aim of reaching our customers and catering to their requirement for finance in the most effective & convenient manner.”

This is the first time in the industry that a completely digitized loan disbursement and collection process will be implemented including client prospecting, eKYC, tracking GPS locations, credit check, decision to disburse loan, money transfer to bank accounts.

Mr. Bandyopadhyay further pointed out that the demand for credit in the unorganized sector in the country is higher compared to the supply. The company plans to create a loan book of approximately INR 500 crore by the end of the current fiscal with approximately INR 80 crore coming from Karnataka.

Business Highlights as on August 31, 2018

·         INR 164 crore disbursed
·         Over 50,000 registered customers
·          Presence in five states – Maharashtra, Tamil Nadu, Kerala, Karnataka and Odisha

Write your Comments on this Article
Your Name
Native Place / Place of Residence
Your E-mail
Your Comment   You have characters left.
Security Validation
Enter the characters in the image above
    
Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Kemmannu.com will not be responsible for any defamatory message posted under this article.
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on kemmannu.com to provide the IP address and other details of senders of such comments, to the authority concerned upon request. Hence, sending offensive comments using kemmannu.com will be purely at your own risk, and in no way will Kemmannu.com be held responsible.
Similarly, Kemmannu.com reserves the right to edit / block / delete the messages without notice any content received from readers.




Watch Full Video:Inauguration Udupi of Diocese
View More

Prayer ServicePrayer Service
ಹಂಪನಕಟ್ಟೆ ಫ್ರೆಂಡ್ಸ್: "9ನೇ ವಾರ್ಷಿಕೋತ್ಸವದ ಸಂಭ್ರಮ" - ಶ್ರೀಮತಿ ರತ್ನಾ ಗಾಣಿಗ ಇವರಿಗೆ ನೂತನ ಮನೆಯನ್ನುಹಸ್ತಂತಾರಿಸಲಾಗುದು.ಹಂಪನಕಟ್ಟೆ ಫ್ರೆಂಡ್ಸ್:
Mount Rosary Church Annoucement for the weekMount Rosary Church Annoucement for the week
AROMA Food Fest at Milagres High School on 14th Nov.AROMA  Food Fest at Milagres High School on 14th Nov.
AN ODE TO YOU, O DEATH! - Tribute to My DADAN ODE TO YOU, O DEATH! -  Tribute to My DAD
Maria TravelsMaria Travels
Kemmannu Kambala on 9th December - InvitationKemmannu Kambala on 9th December - Invitation
Rozarich Gaanch September- 2018Rozarich Gaanch September- 2018
Karaval Milan Sports Event on 23rd December at Milagres Ground, Kallianpur.Karaval Milan Sports Event on 23rd December at Milagres Ground, Kallianpur.
Rozarich Gaanch September- 2018Rozarich Gaanch September- 2018
Milarchi-Lara-September-2018Milarchi-Lara-September-2018
Welcome to Thonse Naturecure HospitalWelcome to Thonse Naturecure Hospital
Santhosh Villa short film by youth of Udupi Parish and ICYM.Santhosh Villa short film by youth of Udupi Parish and ICYM.
Crossland College, Year book 2017-18Crossland College, Year book 2017-18
Delite Caterers and Delite Event ManagementDelite Caterers and Delite Event Management
An appeal to Kemmannu Parishioners, Friends and Well Wishers:

[Comments]

An appeal to Kemmannu Parishioners, Friends and Well Wishers:<P> <Center>[Comments]</P> </Center>
Read online Uzvaad:<font color=red> Read online Uzvaad</font color=red>:
For all your travel needs contact Sequeira TouristFor all your travel needs contact Sequeira Tourist
Power Care Services, MoodubellePower Care Services, Moodubelle
Read Online RaknnoRead Online Raknno
Kemmannu Platinum Jubilee Souvenir – Amruth KaanikKemmannu Platinum Jubilee Souvenir – Amruth Kaanik
Udupi TodayUdupi Today
St. Alphonsa of India