MoneymintMoneymint
    • About
    • Bank
    • Blog
    • Business
    • Money
      • Credit Cards
      • Crypto
      • Investments
      • Tips
      • Review
    • Net Worth
    • Disclosure
      • DMCA
      • Terms and Conditions
      • Privacy Policy
    Subscribe
    MoneymintMoneymint
    Home»Microfinance

    Ujjivan Microfinance forays into Haryana

    ADITYABy ADITYAAugust 26, 2023 Microfinance
    Facebook Twitter LinkedIn Email
    Ujjivan Microfinance forays into Haryana
    Share
    Facebook Twitter LinkedIn Pinterest Email

    South Indian MFI’s are increasing focusing on North India states for growth

    Ujjivan, a Bangalore based urban microfinance company has entered Haryana with 5 branches at Rohtak, Jind, Hissar, Bhiwani & Bahadurgarh. The company has a goal to provide a holistic range of services to poor working women in urban and semi-urban areas to enable them to be free of poverty within five years. With this foray, Ujjivan has made entry into 18th states of operation with 278 branches.

    While inaugurating the branch at Jind, G Naga Reddy, Distribution Manager of Ujjivan said, “Rich people are flush with options of all kinds of financial services. However, their counterparts are not so lucky and hence very often they end up paying heavy prices, particularly for financial services. These informal sources of lending have led them to a vicious cycle of poverty, which sometimes passes on to generations. According to our estimate, the average interest rate charged by moneylenders is 5 to 10% per month.”

    Ujjivan Microfinance forays into Haryana

    In comparison to this, Ujjivan provides small loans to economically active poor women at 1.07% interest rate per month and encourage them to use it for expanding business for building a better life for the family. In this endeavor, the company forms a group of five economically active poor women through its customer relationship staff assigned for a specified area. The groups are formed with a clear mandate to lift them from the current position in order to eliminate poverty or lift them above the poverty line and support them through funds during this period.

    “Traditionally, well being of a family is directly co-related to the well being of women in the family and hence we fund directly to them in order to empower women for suitable investment or utilization of this fund for the welfare of the family, said Vikram Jetley, COO- North of Ujjivan.

    Ujjivan has launched its operation in Haryana with an objective to provide financial services to women who have no access to institutional lending or have been unbankable to date. Ujjivan offers a range of financial services including loans for business and consumption purposes, education, emergency, festival loan and funeral advance besides providing accidental life insurance coverage to the women and her husband as well.

    “Our operation at Jind is just a beginning, we are planning to expand our operations to several towns/cities in Haryana,” add Naga Reddy, Distribution Manager of Ujjivan.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    ADITYA

      Aditya is a talented content writer with a passion for crafting engaging and informative content that resonates with readers. With 10 years of experience in the industry, he has honed his writing skills to produce high-quality content across a wide range of topics.

      Keep Reading
      micro-crisil

      Top 50 Microfinance Institutions in India

      mfi-savings

      Savings in Microfinance Institutions – Legal Framework

      disha-microfinance

      Disha Microfinance

      Latest Articles


      Pulkit Samrat Net Worth
      September 30, 2023
      Mohit Raina Net Worth
      September 30, 2023
      16 Best Ways of Global Investment from India
      September 29, 2023
      Mrunal Thakur Net Worth
      September 28, 2023
      Karanvir Bohra Net Worth
      September 28, 2023
      Recurring Transfer Meaning, Benefits and Set-up Guide
      September 27, 2023
      Sanjeev Kapoor Net Worth
      September 26, 2023
      Ishan Kishan Net Worth
      September 25, 2023
      Mohammed Siraj Net Worth
      September 26, 2023
      Archana Puran Singh Net Worth
      September 26, 2023
      Moneymint
      Welcome to Moneymint.com, your go-to destination for navigating the intersection of business and money. Our platform offers insights, resources, and tools to help entrepreneurs and business owners navigate the financial landscape and achieve success.

      Our team is dedicated to providing you with proven advice and ideas from the best in the industry.
      Categories
      • Bank
      • Business
      • Credit Cards
      • Crypto
      • Loan
      • Money
      • Net Worth
      DISCLAIMER

      The information provided on this page is for informational purposes only. We encourage you to conduct your own research and due diligence on any entities named in this article. We are not affiliated with, endorsed by, or sponsored by any products, corporations, or their affiliates or subsidiaries. References to the mentioned apps/websites are dynamic in nature, and we shall strive to keep these updated. The numbers stated may differ from the actual numbers.

      © 2023 Framed Media
      • About
      • Contact us
      • DMCA
      • Terms
      • Privacy Policy

      Type above and press Enter to search. Press Esc to cancel.