Village MFI looks for social equity investment

Micro-finance institution, Village Financial Services, is in talks with various social security investors including IFC for funds.
"We are looking for impact investment for which preliminary talks are on with some social equity investors," its MD and CEO Kuldip Maity told reporters here last evening.
Village, which started MFI activity 20 years ago, has an exposure of Rs 150 crore on an existing capital base of Rs 32 crore.
The MFI has initiated talks with IFC, Diya Vikas and Maanaviya social equity investors for the first round of investment, he said.
Village had recently got an equity infusion of Rs three crore from SIDBI, he said.

Maity said the targeted exposure this financial year was Rs 210 crore and the loan requirement from banks was Rs 200 crore.
The MFI has already applied for small finance banks license from RBI.