IFMR Rural Channels launched its fourth KGFS – Vellaru Kshetriya Gramin Financial Services to serve Ariyalur, Perambalur and Cuddalore districts of Tamil Nadu. This is in addition to Pudhuaaru KGFS (Thanjavur), Dhanei KGFS (Ganjam, Orissa) and Sahastradhaara KGFS (Uttarakhand). The KGFS network has 106 branches that serve about 200,000 households in these regions.
The KGFS model is aimed at improving the financial well-being of households and enterprises in remote rural India by providing them access to a comprehensive range of financial services. Its wealth management approach emphasises understanding each household and customising a portfolio of financial services to meet its unique requirements.
At the Vilagam branch of Vellaru KGFS
Speaking at this occasion, Anil Kumar S.G, CEO, IFMR Rural Channels said, “This is another important milestone in our journey towards achieving our mission. Over the past few months we have worked on completing our suite of products, which now includes Pensions and term life among other products. We have also been able to make significant progress on our wealth management approach. The branches in the new entity would be offering this complete suite of products under the wealth management framework.”