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Village Financial targets Rs 1500 cr disbursements in FY19

Business Finance

Press Trust of India  |  Kolkata 

Micro-finance institution (MFI) Village Financial Services (VFS) is targeting to touch a disbursement figure of Rs 1,500 crore in the current financial year.

In September 2018, VFS had disbursed the highest monthly amount of Rs 192.5 crore, a company official said.

"We are targetting to touch the disbursement mark of Rs 1,500 crore in the current financial year. In September, we disbursed the highest monthly amount of Rs 192.5 crore", the official told PTI.

With this, the accumulated disbursal in 2018 stood at Rs 950 crore, he said.

Operating in ten states of the country, VFS had decided to leverage Rs 2,200 crore in the form of debt from banks and financial institutions, out of which Rs 1,400 crore had been already done.

Leveraging of the balance amount Rs 800 crore would be completed during the current financial year, he added.

He said that in the next three months, VFS would raise Rs 70 crore to Rs 100 crore through the private equity route.

VFS had already infused around Rs 40 crore from private equity by diluting around 18.6 per cent stake, he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, October 02 2018. 14:05 IST