Muthoot Microfin announced on Thursday that it has partnered with the State Bank of India (SBI) to provide financial services to women in rural and semi-urban areas of India. Together, they will lend to women in joint liability groups who are involved in farming, related activities, and other businesses.
Loan amounts will range from Rs 10,000 to Rs 3 lakh.
“This partnership with SBI will help us offer a variety of products and services to our clients, particularly meeting the growing needs of our women entrepreneur clients in a cost-effective way,” said Muthoot Microfin CEO Sadaf Sayeed.
Based in Kochi, Muthoot Microfin serves about 3.35 million customers through 1,508 branches nationwide. As of March, its total loan portfolio was Rs 12,193.50 crore.
