Microfinance Business Is The New Venture, Jindal’s Are Betting On
Another entrepreneur in the Sajjan Jindal family has made up her mind to accelerate his business. Anushree Jindal, daughter of JSW Group chairman Sajjan Jindal, has prepared an ambitious plan for her microfinance business. In the next five years, Anushree wants to make changes in the lives of 1 Lakh customers through her business. Their focus is on making a change in the lives of people through financial inclusion. The 28-year-old, Anushree has planned to start its own lending operations in the fields of JSW Steel and Energy Plant, such as Maharashtra, Rajasthan, and Karnataka. Apart from this, she plans to target JSW Steel and JSW Cement dealers and sub-dealers through micro-business.
Anushree said, “In India, the financial inclination is gradually increasing. Microfinance companies have so far managed to tag around 40 Million people in the country. Therefore, there is still a lot of potential for this sector to grow. In the last four years, microfinance loan portfolio is growing at 30% CAGR.
Anushree started a company called Swan Financial Services Pvt. Ltd. last month. The company needs a license from the Reserve Bank of India to begin its lending operation in India, for which she has completed all the procedures. The company has appointed Kiran Kumar, a former consultant of PricewaterhouseCoopers for this business, as a business head.
Anushree and her husband Parth are the directors of Svamaan. Apart from this, Parth also heads JSW. Parth Jindal said, “We got the idea of Microfinance Business from JSW Group. In the country, JSW is a brand equity that directly impacts all the factories in the country. Through Svamaan, they will provide financial capital to those who are not able to carry forward their business due to the shortage of money.
Anushree is a graduate of accounting and finance. Apart from this, she also has a master’s degree in accounting from the London School of Economics and Political Science. She has also recently completed a short-term course of ‘Rethinking Financial Inclusion’ from Harvard. Anushree said, “We are starting a business under the startup model. I hope we will get success in this business.”
Swamna wants to give a retail loan of Rs 20,000 to Rs 30,000 on average. In the case of a small SME, the focus of the company is on the segment of Rs 50,000 to Rs 100,000. The company is launching its initial capital of 15 Crore, so the focus of the company will be on semi-urban and rural space.