Dvara KGFS and HDFC Bank enter into a co-lending agreement for micro business units in rural India
Dvara KGFS and HDFC Bank have entered a co-lending partnership aimed at providing business capital to micro business units operating primarily in the unorganised sector. These businesses often face limited access to formal sources of finance.
City Air News
Jul 25, 2023 05:34
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Mumbai, July 25, 2023: Dvara KGFS and HDFC Bank have entered a co-lending partnership aimed at providing business capital to micro business units operating primarily in the unorganised sector. These businesses often face limited access to formal sources of finance.
Dvara KGFS launched its exclusive Enterprise Loans vertical in 2020, focusing on 3 primary value chains i.e.: grocery, dairy, and agri. To date, the company has assisted numerous beneficiaries with working capital and business growth loans, improving their livelihood generation capabilities and facilitating their inclusion in the Indian economy.
In line with its ambitious plans for this year's Annual Operating Plan (AOP), Dvara KGFS seeks to extend credit to micro businesses across the 10 states that it serves. This collaboration with HDFC Bank will help Dvara KGFS realize its ambitions.
LVLN Murty, MD, and CEO of Dvara KGFS expressed his enthusiasm about the partnership, stating, "We are excited to join forces with one of the largest and leading financial institutions in the country. This engagement will enhance our capabilities in empowering micro businesses operating in rural areas."
K. Venkatesh, Executive Vice President and Business Head, Sustainable Livelihood Initiative, HDFC Bank said, “At HDFC Bank, our aim has always been to provide ease in accessing credit and finance. In this pursuit, we are happy to partner with Dvara KGFS which will serve to increase the credit flow to the under penetrated areas and encourage the beneficiaries to become self-reliant”.
