Calcutta, April 8: City-based microfinance firm Village Financial Services has set an aggressive growth target for 2017-18 backed by expansion in new markets. The MFI has 200 branch offices across Uttarakhand, Tripura, Odisha, Sikkim, Assam, Jharkhand, Bihar and Bengal with a customer base of 2.56 lakh across 10,000 villages. The company hopes to increase the loan book to Rs 900 crore through the expansion. Maity said the expansion in new states is expected to begin only after September by when the base in the existing locations will be strengthened. The new branches not only expand our footprint but will complement the aim to reach 20 states by 2020," Maity said.

Source: The Telegraph April 08, 2017 20:23 UTC