L&T Finance Holdings has opened its 1000th meeting center in Kolkata to facilitate its micro loans business. The company has opened 14 new meeting centers in West Bengal in the last two months, taking the number to 126 in the state. L&T Finance has also launched an app which will enable seamless customer on-boarding by providing instant loan sanctioning. The micro loans business has an end-to-end digital platform, embedded with a range of services such as loan sanctioning, group formation, e-signing, receipting, risk audits etc. The company’s micro loans book stood at Rs 7549 crore as of 31 March with a customer base of about 38.2 lakh women across 57,500 villages. Sunil Prabhune, chief executive – Rural Finance and chief human resources officer, said in line with the company’s strategy of reaching out to hitherto unbanked customers, it is continuously increasing its footprint in new geographies.
