Mumbai: In a groundbreaking initiative on Women’s Day, IIFL Finance, one of India’s leading non-banking financial companies (NBFCs), has launched seven gold-loan branches exclusively run by women employees. These branches, branded as ‘Shakti’, are located across the Delhi National Capital Region (NCR) and Mumbai Metropolitan Region (MMR), making IIFL Finance the first in the gold-loan industry to introduce such an initiative.
The ‘Shakti’ branches aim to empower women by providing both employment opportunities and financial literacy programs. These branches will cater to all borrowers, with a special focus on female entrepreneurs by offering tailored financial solutions and support for their businesses.
Abhiram Bhattacharjee, President and Chief Operating Officer at IIFL Finance, stated: “A quarter of IIFL Finance’s customers are women, mostly from unbanked and underbanked segments. Additionally, we have a significant number of women employees at the branch level. Through these women-centric initiatives, we aim to foster financial independence and create a more inclusive business ecosystem.”
Each ‘Shakti’ branch is staffed entirely by women, providing employment opportunities for up to forty female professionals. These branches will go beyond traditional banking services by offering skill development programs to help women entrepreneurs scale their businesses.
Manish Mayank, Zonal Head of Gold Loan at IIFL Finance, emphasized: “Women business owners are a vital force in India’s economy and form a significant segment of our customer base. The launch of ‘Shakti’ branches reaffirms our commitment to extending credit and financial resources to small, unbanked, and underbanked women entrepreneurs. Women’s Day is the perfect occasion to introduce this initiative.”
With the launch of Shakti branches, IIFL Finance is setting a new benchmark in the gold-loan industry, reinforcing its dedication to women’s empowerment, financial inclusion, and entrepreneurship development.
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