CSC Grameen eStore, a subsidiary of Common Service Centers, and Adani Capital have joined hands for extending business loans to Village Level Entrepreneurs (VLEs) for purchasing products to be sold to customers through the e-commerce platform.
As per the agreement, the Distributor VLEs working in CSC Grameen eStore can avail loan up to Rs. three lakhs. The facility will initially be available for the VLEs of Rajasthan, Gujarat, Maharashtra, Karnataka, Andhra Pradesh, and Telangana.
The non-banking financial company arm of Adani Group, one of the foremost financial service firms with a focus on ‘Entrepreneurship’ development, aims to play a pivotal role in bringing about inclusive growth by focusing on rural development and supporting medium and small enterprises through capital and industry best practices.
Dr. Dinesh Tyagi, Managing Director, CSC SPV said, “VLEs running Grameen eStores are not only servicing people in rural areas but also generating huge employment opportunities by employing rural youth. To date, these eStores have delivered 40 lakh orders. With the loan facility available to the eStore VLEs, they will be able to purchase products in demand without waiting for capital and deliver them to the doorsteps of the customers.”
Rural consumer demand is a critical driver for economic growth and the availability of finance for sourcing products that can be delivered to rural consumers in underserved areas will be a win-win scenario for all involved.
The Grameen e-Store, launched in April 2020, offers a large range of products including local handicrafts, groceries, and consumer durables in far-flung areas. It has touched the business of Rs. 450 crores since its launch. The e-store is run by over two lakh VLEs across the country.
ROSHIDUL ISLAM