Seen as creating a fresh opportunity for microfinance companies, micro lender Village Financial Services has claimed that it would start doing business in four more states, including the northeast, this year.
Village Financial Services Managing Director Kuldip Maity said that the microfinance institution (MFI) would soon launch operation in Tripura and subsequently expand to Sikkim, Odisha and Uttarakhand.
“As Bandhan has turned into a bank, banks that used to lend to Bandhan are looking at other MFIs for lending. This has created growth opportunity for us,” Maity said.
The Kolkata-based MFI is present in Bihar, Jharkhand, Assam, besides West Bengal.