Amidst the pandemic, when earning the basic bread and butter is next to impossible, Dvara KGFS is aiming to help people meet their daily needs through loans. The rural areas have been flooded with the necessity of small-ticket loans, and Dvara KGFS has been providing what they want.
Dvara KGFS has brought small-ticket loans for its customers
There are different packages when it comes to such small-scale loans. Loans cover the primary supply of utility and toiletries, ranging in amounts of 1,000, 1,500, and 2,000. These loans have been proved beneficial for at least 1,000 people until September. The 2,000 rupees ticket has had many customers than any other tickets, which is 70% of their customers. The tenure period ranges from 3-6 months.
The Dvara KGFS has taken things up a notch by making it digitally sound. One can also get a loan through WhatsApp if all the necessary documents are uploaded correctly. This move has helped the customers to be able to receive a consistent cash-flow. However, it is a two-way benefit as it becomes easy for the lenders to keep a check as well.
The 1,500 ticket includes fundamental necessity items include toothpaste, sambar powder, sugar, rice, garlic, dals, etc., other than 30 other items that are necessary for survival. The executive said that this product of their non-bank and microfinance institutions might not be that important as compared to other products. However, this product is the most essential one as it helps more people and is suitable for them.
They are also aiming at the digitisation of the kiranas as a large number of people depend on them for their retail needs. Around 6-7% of the overall portfolio of Dwarka KGFS comprises of small-scale businesses. Hence, the company aims at hiking the percentage to 20% by the next year engulfing the retail stores too.