Government-promoted CSC SPV subsidiary CSC Grameen eStore 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 loans of up to Rs 3 lakh.
"VLEs running Grameen eStores are not only servicing people in rural areas, but also generating huge employment opportunities by employing rural youth. Till 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," CSC SPV Managing Director Dinesh Tyagi said in a statement.
The facility will initially be available for the VLEs of Rajasthan, Gujarat, Maharashtra, Karnataka, Andhra Pradesh and Telangana.
There are around 4 lakh common service centres (CSC) across India that are run by VLEs. The e-store is run by over 2 lakh VLEs across the country.
Adani Capital, the non-banking financial company of the Adani Group, aims to play a pivotal role in bringing about an inclusive growth by focusing on rural development and supporting medium and small enterprises through capital and industry best practices, it added.
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 a business of Rs 450 crore since its launch, the statement said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU