ANI
21 Oct 2019, 18:33 GMT+10
Bengaluru (Karnataka) [India], Oct 21 (ANI): Leading microfinance institution CreditAccess Grameen Ltd said on Monday that it expanded its footprint in five new states during June to September.
After setting up operations in Gujarat, Rajasthan, Uttar Pradesh, Bihar and Jharkhand, the company's business activities have expanded to 887 branches with 9,817 employees spread across 210 districts in 13 states and union territory.
"Our foray in five new states is in line with the company's contiguous district-based expansion strategy with a strong rural focus," said Managing Director and CEO Udaya Kumar Hebbar.
"There is still significant scope for penetration of microfinance, specifically in deep rural and unbanked areas where low-income households lack access to easy and affordable credit," he said in a statement.
CreditAccess Grameen's focus is on strengthening technology platforms and increasing the robustness of its systems and processes as it grows in new markets. "We believe that this will help us to build high-quality loan books and deliver consistent growth over the coming quarters," said Hebbar.
The company's promoter is CreditAccess Asia NV, a multinational company specialising in micro and small enterprise financing which is backed by institutional investors and has a micro-lending experience through its subsidiaries in four countries in Asia. (ANI)Get a daily dose of South East Asia Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to South East Asia Post.
More InformationWASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...