With a shared vision to strengthen local businesses by assisting micro-entrepreneurs, Common Services Centers (CSC), a SPV of Ministry of Information Technology, in collaboration with Adani Capital have started providing working capital to its Village Level Entrepreneurs (VLEs).
Currently, approval for business loans have been provided to as many as 100 VLEs empaneled with CSC Grameen eStores, while 1500 VLEs will be covered in the next three months.
Currently 10,000 VLEs are empaneled with CSC Grameen e-Stores. These VLEs act as distributors on the digital rural marketplace created by CSC e-Grameen Stores, helping corporates in last mile direct distribution of their products, which includes FMCG, Consumer Durables Home Appliances, Vehicles, etc.
Currently, 3.64 lakh Grameen eStores are functional across the country and have touched the business of Rs 642.77 crore since its launch.
Elaborating on the partnership, Sanjay Rakesh (ex-IAS), MD & CEO, CSC SPV, said, "VLEs running Grameen eStores leverage demand for various products and service it through CSC's tie ups with manufacturers. Like any business, working capital is key to sustainable growth and with our tie-up with Adani Capital, we have been able to address VLE's financing requirements and that too digitally."