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Fincare SFB disburses first loan to street vendors

Fincare Small Finance Bank (FSFB) today disbursed the first loan under Prime Minister Street Vendor’s Atmanirbhar Nidhi Scheme (PM SVA Nidhi), aimed to empower street vendors. The loan of Rs 10,000 was disbursed to Lakshmamma, a coconut seller in Bellandur, Bangalore. Rajeev Yadav, MD & CEO, Fincare Small Finance Bank, said as a leading small finance bank, the bank aims to take this social initiative forward and help in creating a culture of self-reliance for marginalized sections to overcome financial stress caused by the pandemic and empower them to be stronger financially. The bank today has 2.65 million customers in 19 states/union territories, deposits worth Rs 52 billion, a loan book of Rs 52.9 billion, and a staff of 7700.

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