There is no denying the fact that rural India has a lot of potential to grow and as many companies have rightfully understood the same, and are now looking to expand in the hinterlands.
The recent one to expand under the rural umbrella is Mahindra Finance, the financial services subsidiary of Mahindra and Mahindra (M&M), India’s largest utility vehicles and tractor maker.
It has been learned from a top official in the company that the company will be hiring local talent following a sharp upswing in business volumes from the Tier – II and Tier- III cities. According to newly announced strategy, the company will be hiring local talents in Asda, Dahod, and Bardoli in Gujarat; Patankot, Hoshiapur in Punjab; Hoogly and Burdwan in West Bengal; Jalgaon, Dhulia, Chandrapur, and Akola in Maharashtra. According to the announcement made by the company, the new recruits will be fresh graduates and will be posted at the local branches of the company. Ramesh Iyer, MD, Mahindra Finance said that customers in the lower income group will have stand as catalyst to ensure a sustainable growth of the company.
Ever the funding hasn't been allocated yet. However, Sabahat Azim, former chief executive of Srei Sahaj e-Village Ltd said that the DIT should first check the viability of the first 1 lakh kiosks and then should look at the project of opening additional 1.5 lakh kiosks.
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