NGO launches financial institution GVMP

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Tiruchirapalli, Jan 9 (UNI) The city based NGO, Asa-Grama Vidyalaya launched its financial institution 'Grama Vidyalaya Micro Finance Private Ltd (GVMP)' on the 25th year of its inception, from a charitable trust to an elated NBFC status granted by the RBI, today.

GVMF Chairman and MD S Devaraj said GVMP would provide micro finance to poor women in the State. Presently, with 82 branches spread over 18 districts and 2,40,000 members, it had issued 9,17,509 loans and maintained cent per cent repayment. They also implemented life insurance scheme for more than one lakh members, he added.

He said by an integrated approach towards poverty alleviation and women empowerment, they had planned to reach more than one million clients in the next five years.

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