The fund crunch is over, and wasn’t as bad as we feared. By the end of January, we had virtually reached our revised Business Plan Target for Amount Outstanding for the Fiscal, with Rs. 2,440 crores in the hands of 856,918 active Loan clients in 26 Regions, 552 Branches and 51,631 village-based Centres. The average Loan Outstanding had risen to Rs. 23,853, and increase of 115% since we began NGS, 3 years ago. Our BC Banks came through, and had reached 96% of their revised target. We expect BC Bank funding to continue to meet their targets in the Year ahead. Good progress has been made in disbursing the Flexi Loan, with 190,121 outstanding at the end of January, meaning that 22% of clients now have Flexi Loans, compared to 16% at the end of September last.
Your management would like to take advantage of the likely availability of funds in the coming year to resume expansion, which had been put on hold while we implemented NGS. The Revised Business Plan for 2019-20 targets 1,002,484 Active Loan Clients by 1 March 2020. Finally, we will cross the iconic million client mark!
Through CASHPOR’s Program, we hope to aid unemployed youth hailing from rural below poverty line families. We aspire that they attain salaried employment in organization best suited for them or become entrepreneurs that lead successful micro- enterprises by making them semi- skilled or skilled human resources. This allow them to earn a respectable and self sustained living for themselves and their families bedded.
CASHPOR Trust wishes to play a catalytic role in the lives of unemployed youth hailing from CASHPOR’s Microfinance beneficiary rural below- poverty- line families. For this, it strives to evolove into a reputed vocational training institution that provides skill development programs. This will enable them to become employable and capable of earning a respectable and self- sustained living for themselves and their families.