Hyderabad-based SKS Microfinance plans to reach out to 7,000 poor households across Kerala by providing them with income generating loans in the current fiscal.
The company, which launched its operations in Kerala recently, aims to empower poor women to become economically self-reliant.
Addressing a press conference here, MR Rao, chief operating officer, said the company had already started operations in Palluruthy in Ernakulam district and Thriprayar in Thrissur district.
It will soon start offices at Kumbalangy and Chellanam in Ernakulam district, Aroor in Allappuzha district and Thalikulam, Kodungalloor, Anthikkad, Mullassery, Chavakad and Cherpu in Thrissur district.
He added that SKS would commence operations in Palakkad, Malappuram, Kottayam and Kollam districts in the current fiscal itself.
According to him, the state has 2 million poor households and needs Rs 4,200 crore to provide them with meagre finance. Already 800 have enrolled as members and this is expected to touch 7,000 by the end of the current fiscal.
The company also plans to introduce a medical insurance scheme for all its members soon.
SKS has branches in Andhra Pradesh, Karnataka, Maharashtra, Orissa, Gujarat, Uttarakhand, Rajasthan, Madhya Pradesh, Chhattisgarh, Uttar Pradesh, Delhi, Bihar, Jharkhand and West Bengal. It operates in 20,000 villages and has a membership of 1.3 million. So far, SKS has disbursed micro loans worth Rs 1,566 crore, he added.