Sikkim is India’s first fully organic state
2016 turned out to be a great year for Sikkim as it became India's first fully organic state besides being…
When it comes to helping women belonging to the marginalised section of society in Sikkim and North Bengal, Village Financial Services Private Limited of Kolkata requires little introduction. This micro-finance group engages in non-banking financial activities and forayed into Sikkim, opening two rural branches in Rangpo and Singtam in east Sikkim some time in March this year.
Bent on supporting women’s empowerment, inclusive of financial stability, this micro-finance group started its journey back in 2005, and after spreading its presence in the rural areas of West Bengal, Bihar, Jharkhand, Assam and Tripura, it plans to extend it footprint across other districts in Sikkim.
Kuldeep Maity, managing director and chief executive officer, Village Financial Services, explained, "In order to tap growing business opportunities in Sikkim, we are thinking of reaching out to nearby areas in the state that have sound business potential like Namthang, Namche and Pedong. We plan to touch Gangtok with our micro-financial schemes." It is eyeing a steady growth in the state and has charted plans for around five branches in Sikkim.
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The group, through its two full-service branches in Sikkim, offers credit to poor women to help them generate an income and thereby ensure their sustenance. Said Maity, "Sikkim has a low density of population and we have churned out low business worth Rs 80 lakh till now. As many as 3,000 rural women have been offered financial support."
Village Financial Services has a robust presence in the major towns of North Bengal, including Cooch Behar, Jalpaiguri and Siliguri. Maity added, "Our group has performed business worth Rs 70 crore in these three towns of North Bengal. We do have plans to churn out another Rs 50 crore worth of business in the region by this year."
The group offers support exclusively to women in the poor socio-economic strata and has eased their suffering and raised their standard of living. It has a reach in the urban areas of Bengal and the eastern part of Bihar as well.
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