UBFC provides rural credit across a variety of locations and industry sectors, with a focus on the northern half of India. The firm has launched new product offerings to specifically target the needs of rural consumers, notably those involved in the dairy and kirana value chains. UBFC's unique strategy involves offering rural consumers a specifically built e-gold savings product that allows them to conveniently invest.
"We have a customized loan for the dairy segment called 'Kamdhenu' loans and a customized loan for the kirana segment called 'Sammrudhi' loans launched in January 2022, Avneesh explains.
Furthermore, in August 2022, the rural-focused fintech launched the E-Gold savings product, which was created in conjunction with Dvara Smart Gold. UBFC has around 700 cslients and has disbursed over 70 million.
INSURANCE PARTNERSHIPS
The firm has gone into providing cattle insurance facilities at reasonable rates, therefore protecting livestock owners' livelihoods. Customers can obtain credit life insurance through the company's partnership with Kotak Life Insurance and cattle insurance through SBI General Insurance.
This story is from the September 2023 edition of Banking Frontiers.
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This story is from the September 2023 edition of Banking Frontiers.
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