The story of Rajendra Tukaram Joshi | IIFL Finance's Social Impact Stories from the Grassroots | Dadar Gaon | Pen, Raigad | Maharashtra
Fifty-three-year-old Mr. Rajendra Tukaram Joshi from Dadar village in Maharashtra’s Raigad district is involved in the business of marine and backwater fishing using small boats. Mr. Joshi started with small loans from IIFL Finance for his short-term credit requirements. Over the years he has expanded his business repaired his old boat and added a new one. Mr. Joshi is one of the many from the fishermen community in Pen, Raigad, who have been customers of IIFL Finance and are satisfied with the quick loan processing and easy repayment options.
Mr. Joshi said, "We are an enterprising community but didn't have easy access to formal sources of finance which stopped us from growing. With IIFL Finance we get our loans almost instantly and can plan business growth for years." He is also happy with the customer service offered by IIFL Finance employees and transparent dealings.
Marine and backwater fishing communities are concentrated in Kokan region of Maharashtra divided into five regions – Raigad, Thane, Ratnagiri, Sindhudurg and greater Mumbai. Raigad has a marine fishing population share of over 33% (Maharashtra Marine Fishing Population Survey 2016).
Despite the prominence of fishing business as a source of livelihood access to finance remains difficult for small fishermen. IIFL Finance has a strong presence in this area and aims to fulfill the unmet need of finance from the underserved fishermen community.
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Posted On: 05 Jan 2024 12:11 PM