Major Non-Banking Financial Company (NBFC) L&T Finance Limited’s (LTF) total size of business financing in rural areas has crossed the figure of Rs 25,000 crore. Giving this information on Thursday, LTF said that this achievement is a proof of the company’s commitment to empower rural entrepreneurs and small business owners. In fact, such people are the backbone of the Indian economy. With a special focus on financial inclusion and rural development, LTF’s rural business has been a pioneer in providing accessible and affordable financing solutions to the rural community.
Emphasis on creating business women in rural India
Since its inception, the company has disbursed loans to over 1.4 crore rural women entrepreneurs, empowering them to start and expand their businesses and ultimately achieve financial security. This has helped fulfill the dream of creating businesswomen in rural India. In addition, the company has been successful in expanding its reach to underprivileged areas through a network of over 1,700 branches across 14 states. The key growth geographies for the company have been Bihar, Tamil Nadu, Karnataka, West Bengal, Uttar Pradesh, Odisha, etc. Growth is expected to continue due to consistent and strong customer interest in these markets.
An important milestone for the business
Speaking on the occasion, Sonia Krishnankutty, Chief Executive Officer, Rural Business Finance, LTF said, “Reaching a size of Rs 25,000 crore is a significant milestone for our business. Our success is based on a data-driven approach that enables us to make effective lending decisions.” The size of LTF’s retail segment for the last fiscal reached Rs 80,037 crore.
Latest Business News