Vikram Akula back into microfinance biz through Vaya Finserv

Vikram Akula is the co-founder and chairman of Vaya, which is currently operating 50 banking correspondent branches in 5 states

Hyderabad-based Vaya Finserv is set to launch microfinance operations, also marking the comeback of Vikram Akula into the sector he’d substantially influenced not long before.

Debuting as a banking correspondent (BC) in 2015, Vaya is opening its first set of 15 microfinance branches this week in Bihar, a state where it sees a big need for such loans. Akula is co-founder and chairman of Vaya.

The entity currently operates 50 BC branches in five states and managed Rs 436 crore of a combined micro loan portfolio for YES Bank, RBL Bank and Reliance Capital. It recently got a non-bank finance