Microfinance latest venture from Jindal stable

Sajjan Jindal’s family has a new entrepreneur. Armed with a mere ?15 crore capital, JSW Group chairman’s daughter-in-law Anushree Jindal is charting an ambitious plan in microfinance business. 

Her target is to impact the lives of 1lakh customers in five years, with a focus on driving financial inclusion and income generation. The 28-year-old plans to launch lending operations in locations around JSW’s steel and energy plants in Maharashtra, Karnataka and Rajasthan. 

She is also targeting micro businesses such as dealers and sub-dealers of JSW Steel and JSW Cement. “We are at the cusp of financial inclusion in India with low penetration levels — microfinance, including self-help groups, has targeted only 4 crore till date and there is still scope for better penetration. Industry growth rates over the past four years are a testament to this with microfinance loan portfolio growing at 30%-plus CAGR,” she said. ....Read more


Source web page:Economic Times




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