*Associate Professor & HOD B. Com, JIMS Engineering Management Technical Campus Jagannath Institute of Management Studies, Greater Noida, UP
**Assistant Professor, JIMS Engineering Management Technical Campus Jagannath Institute of Management Studies, Greater Noida, UP
***Assistant Professor, JIMS Engineering Management Technical Campus Jagannath Institute of Management Studies, Greater Noida, UP
The case discusses the success story of Village Financial Services Private Limited (VFSPL), 1st only for women, Eastern Indian Micro Finance Company having status of NBFC i.e. Non Banking Financial Company, registered by RBI. VFSPL is also India's 1st ISO certified Micro Finance Company.
From year 2005–06, VFSPL has started its micro finance operations. VFSPL Micro Finance program has grown rapidly & currently helping thousands of poor families of India. These programs are started with the motive of providing credits to the poor women's, the purpose was to generate income activities and help the poor women's to become economically self sufficient. The aim was to bring a qualitative change in the life of poor women's. VFSPL is providing poor women's standard of living & their own independent status in the society.
As on 31st March 2017, VFSPL is working in 8 states with 40 working districts of these states with 159 branch offices. VFSPL total number of loan borrowers are 2, 40, 707 with cumulative loan disbursement amount is 2056.56 crore. The incredible thing is repayment rate which is 98.52%..
Micro Finance, Micro Credit, NBFC, Niche Segment
