Village Financial Services Pvt Ltd a microfinance company that has operations in the eastern region of India has signed a Memorandum of Understanding (MoU) with Hindustan Unilever Ltd to promote the use of safe drinking water among the poor, according to a press release issued by Village Financial Services.
The collaboration between Village Financial Services(VFS) and Hindustan Unilever will enable poor households to purchase HUL’s Pureit water purifiers through the VFS network. The targeted 2.5 lakh beneficiaries could take loan at zero rate of interest to buy the purifier and the loan would be repayable weekly over a period of eight months, the release added.
Village Financial Services Private Limited(V.F.S.P.L) started it’s microfinance operations in the financial year 2005-2006 and was one of the 1st Micro Finance Companies in the eastern region of India with a Non Banking Financial Company (N.B.F.C) license. Currently Village Financial Services Private Limited has more than 2,00,000 active borrowers who are serviced through it’s 63 Branches. It has loans outstanding of more than Rs. 115 crore.