In an effort to go beyond the traditionally established models of providing financial services to the poor, Ujjivan has introduced the Individual Bazaar Loan (IBZL) in the Eastern region.
On the auspicious occasion of the Bengali New Year, the first loans were disbursed to customers whose occupations ranged from provision store owners to pottery.
The IBZL is aimed at micro-entrepreneurs of a traditional Indian Bazaar. Breaking away from the established trend, the IBZL would be available to both men and women and would be an individual loan.
The loan is designed to meet the working capital and capital expenditure needs of customers with different repayment tenures on offer and loan amounts ranging from Rs.21000 to Rs.40000.
This product is also the first to be developed to specifically meet the needs of customers in a specific region, in line with Ujjivan’s strategy of developing customer centric product offerings.
Ujjivan hopes to develop many more such clutter breaking products and help customers truly ‘build a better life’.
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