Kolkata, June 25: VFS Capital (formerly Village Financial Services Limited) plans to increase its assets under management from Rs 803 crore to Rs 1,500 crore within a few years and also plans to expand the number of branches across the country, an official said .
MD & CEO of VFS Capital Kuldip Maity said at an event here on Friday night that the NBFC-MFI has 247 branches at present, and added that plans are there to add 35 more this fiscal and also to enter the state of Rajashthan.
Maity said during the last two years of the pandemic, the focus was not on increasing business, adding that VFS plans to provide loans for affordable housing and MSME loans. He also said the new RBI regulations on MFIs will help the sector to grow, particularly the deregulation of interest rates across the entities.
He said the capital adequacy ratio of VFS Capital stood at 24.17 per cent, and also maintained A minus rating MFI(I) grade rating. Presently, VFS has operations in 13 states. (PTI)
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