Veritas Finance aims to disburse Rs 500 crore in West Bengal

Non-banking finance company Veritas Finance today inaugurated its 100th store at Burdwan in West Bengal as part of a plan to disburse Rs 500 crores in the region over the next two years.

The company, which opened 25 branches last year, had disbursed Rs 75 crores in West Bengal.

With the new store, the company is targeting Rs 500-crore disbursement.

Managing partner of Lok Capital Venky Natarajan inaugurated the store.

"With the strong micro, small and medium enterprises (MSME) sector in place, West Bengal offers scope to large industries too to grow. Our 100th branch in the third year of operations reflects our commitment to provide sustainable and accessible financing option," managing director and chief executive officer of Veritas Finance Arulmany D said.

"In the years to come, we will expand our footprint across the country to address the business expansion and working capital needs of MSME customers.", he said.

Veritas Finance is currently present in seven States and in a union territory serving 17,500 customers, the statement added.