Avanti Finance, ASSEFA ink pact to serve micro-retailers,

: Financial services provider Avanti Finance on Tuesday said it has tied up with the Association for Sarva Seva Farms (ASSEFA) to offer financial assistance to farmers and micro-retailers in rural areas of Tamil Nadu.

Borrowers within the age group of 18-59 years can avail of any loan amount ranging between Rs 10,000 and Rs 35,000 through the Avanti Finance digital platform.

Around 20,000 people from 300 villages in Madurai and Tiruchirappalli would get access to credit at affordable rates as per the agreement, a press release said.

Commenting on the association with Avanti Finance, ASSEFA Founder and Executive Director, S Loganathan said "ASSEFA and Avanti have partnered to make credit accessible and affordable in Tamil Nadu".

"It can go a long way in bridging the credit gap in the area and encourage entrepreneurship. The association, backed by ASSEFA's strong network,will strengthen the credit system".

Avanti Finance, CEO, Rahul Gupta said 'the partnership with ASSEFA provides an opportunity to combine the skills and knowledge built at the grassroot level with a digital lending framework to deploy products that potentially empower the users in ehancing the income.

"We look forward to our contribution towards enhancing financial inclusion in Tamil Nadu and across India", he said.

Avanti Finance is co-founded by business icon and Tata Sons Chairman Emeritus Ratan Tata and Infosys Co-Founder Nandan Nilekani.