Fincare Small Finance Bank is the name that DishaMicrofin’s venture has. It is about to launch operations and intends to be a fintech company with a banking license.
Microfinance company DishaMicrofin, which is about to start operations of its small finance bank Fincare Small Finance Bank, will continue to have a focus on women and their empowerment. It believes this focus is integral to its business and women would be a very major segment of the bank’s customer base as well.
“Women borrowers currently comprise over 95% of our customer base,” says Keyur Doshi, CFO at DishaMicrofin. “Going forward, women would continue to account for the majority of our customer base. We intend to offer savings, deposits and insurance offerings tailor-made to the needs of this segment to achieve financial inclusion in the true spirit.”
BASE OF THE PYRAMID
While the base of the pyramid segment would continue to be a strong focus area, the bank would also be targeting the mass retail customer segment in the rural and semi urban areas and would be offering new products such as affordable housing, loan against gold and overdrafts, says Doshi. “Our ability to offer deposit products would also help position us as a one-stop shop for their financial requirements,” he says.
This story is from the May 2017 edition of Banking Frontiers.
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This story is from the May 2017 edition of Banking Frontiers.
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