Muthoot Microfin, a leading microfinance institution headquartered in Kochi, has partnered with the State Bank of India (SBI) to enhance financial access for rural entrepreneurs. Under this co-lending initiative, SBI has sanctioned ₹500 crore, disbursed in tranches of ₹100 crore, for loans ranging from ₹50,000 to ₹3 lakhs.
This program focuses on Joint Liability Group (JLG) members engaged in agriculture, allied activities, and other income-generating ventures. Operating in 20 states and 369 districts, Muthoot Microfin aims to expand this initiative pan-India, empowering underserved communities with affordable credit at reduced interest rates.
Sadaf Sayeed, CEO, Muthoot Microfin stated, “Our unique partnership with India’s largest lender, SBI, enables us to deliver affordable credit to women entrepreneurs, helping them grow their businesses and improve their livelihoods. With this collaboration, we aim to meet the growing demand for financial solutions across rural and semi-urban India, creating a sustainable impact and empowering communities through economic self-reliance.”
