Bharat Financial Inclusion To Rollout 2 Lakh Kirana Points

Bharat Financial Inclusion plans to rollout 2 lakh Kirana Points across its network in 16 states of India in partnership with leading banks, the company informed the bourses on Wednesday.

With the introduction of Kirana Points, company’s borrowers can now walk into the nearest kirana shop or merchant store to make basic financial transactions like repaying loan, depositing money, withdrawing cash, making bill and other payments.

“We are delighted that we are becoming the first entity in India to launch 100% digital financial inclusion on such a scale, thanks to our team’s simple innovation,” said M.R. Rao, CEO and Managing Director.

Meanwhile, the stock was trading at Rs 672.45 per share, down by 0.6% at 0930 hours IST on BSE.

Bharat Financial Inclusion Limited is a non-banking financial company-micro finance institution (NBFC-MFI). The company is engaged in providing microfinance services to women in the rural India enrolled as members and organised as Joint Liability Groups.

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