Kissandhan, India’s leading multi-asset agri finance NBFC and a subsidiary of the Sohan Lal Commodity Management (SLCM Group), has on-boarded over 9600 women loan beneficiaries through its BC (Business Correspondent) partnership lending programme and disbursed more than INR 413.40 million (INR 41.34 crore) of loan to them.
Highlighting the milestone, Sandeep Sabharwal, CEO, SLCM Group said, “Throughout our journey, we have always felt the scarcity and need for women in agriculture. Kissandhan aims to impact the livelihood of small farm holders and their families. The loan benefits to women is our next step in the process. We feel delighted and proud that our programme has crossed the mark of 9,600 women loan beneficiaries, and we wish to double this number in the coming year.”
“Available data shows that women in agriculture in India lack access to credit to establish stability. We have also come across instances where despite ownership of land in their name, the women lack decision-making power. Even in the agriculture sector in India, there exists gender disparity with women earning only 70 per cent of men’s wages”, he said.
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“Kissandhan is an initiative that intends to minimise this disparity and recognise women and their significant role in livelihood generation and thus give them the desired access to capital to improve their social and economic standing,” Sabharwal added.
Business correspondents are representatives appointed by banks and financial institutions who act as their agents and provide financial services in remote rural locations where banks are not present. The average ticket size of such loans is Rs.39,000 per borrower. Till now, Kissandhan has managed to disburse an amount of INR 413.40 million (INR 41.34 crore) to help the women beneficiaries.
To date, Kissandhan has disbursed a loan of INR 25 billion and impacted about half a million farmers, agri traders, agri Processors and related stakeholders.