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Grama Vidiyal Micro Finance to raise Rs 100 crore for expansion of organization

Vinay Ganti
16th Aug 2009
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Grama Vidiyal Micro Finance (GVMF) is about to enter into a phase of significant expansion. According to its Chairman S Devaraj, the organization will

“add 61 branches which would take up total number of branches to 215 from the current 154. Currently, the 25-year old NBFC caters to 4 lakh people and set a target to increase it to 7.5 lakh with a total disbursement of around Rs 350 crore during the current fiscal compared to Rs 240 crore last year. The company has crossed cumulative loan disbursement of Rs 1,000 crore as on July 2009.”

[Source: Microcapital.org]

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