Ujjivan further strengthened its presence in the North Eastern Corridor by opening 6 branches in Guwahati (Assam) and 2 in Shillong (Meghalaya).
With this, Ujjivan’s Eastern Region now has 115 Branches – highest number in any region – in the states of West Bengal, Jharkhand, Orissa, Bihar, Assam, and Meghalaya. We also plan to introduce a Financial Literacy program for its customers in this underserved region.
Microfinance has greater significance in North-Eastern Region given that financial inclusion has been dismal in North-East due to poor penetration of commercial banks. Only 0.02% of all microfinance loans were disbursed in the North East in 2008-09 (NABARD figures). The North East accounts for nearly 15 million poor in India. |
