IndusInd Bank partners with SV Credit line for co-lending agreement

The agreement will help rural women access to affordable loans which they could use for a wide range of economic activities such as agriculture, animal husbandry, trading and local manufacturing, among others, SV Credit Line said in a statement.

“The fact that we offer their products and services only to women customers makes this proposition a winning one,” SV Credit Line Group CEO Vivek Goyal said.

One of India’s biggest and most reputable non-banking financial companies is SV Creditline Limited (SVCL) established in 2010. Vans Pte. Ltd. and SV Corporation Pvt. Ltd. are the businesses that promote SVCL, which the Reserve Bank of India has registered as an NBFC-MFI under Section 451A. SVCL provides a variety of small credit facilities to women in the low-income segment with an annual household income of ₹125,000 in rural areas and ₹200,000 in urban areas. The organisation is now providing services to 130 districts in the following states: Madhya Pradesh, Uttar Pradesh, Rajasthan, Bihar, Haryana, Chhattisgarh, Uttarakhand, Punjab, and Jharkhand. In addition to Mr. Anil Kumar Jha, Mr. Kalpataru Tripathy, and Mrs. Meeta Makhan serving as Independent Directors of the firm, Mr. Sunil Sachdev and Mr. Vijay Parekh serve as Promoter-Directors.