Bharat Money Store launches
“BMS Atmanirbhar Bharat Abhiyan”
Bharat Money Store, an extension of Bharat Financial Inclusion Ltd. and IndusInd Bank, has launched “BMS Atmanirbhar Bharat Abhiyan” to support the Hon. PM Narendra Modi’s initiative of Atmanirbhar Bharat. The initiative is helping people in rural India through micro-lending and other digital banking services, filling the last-mile gap.
The Coronavirus pandemic has affected the people and the economy relentlessly and is still growing rapidly. The nationwide lockdown to curb the spread of coronavirus prevented people from stepping out and halted businesses. The economic crisis in India due to the lockdown is serious. Close to 84% of Indian households have seen a decrease in income or no income at all during the nationwide lockdown. The pandemic has impacted the migrant workers severely and left them with the option to either return home or remain jobless, and created impediments in earning living along with small vendors like fruit and vegetable sellers, pan shop owners, tailors, etc. as well.
Acknowledging the need to provide access to credit and other digital banking services, Bharat Money Store has started BMS Atmanirbhar Bharat Abhiyan. With the objective of making people Atmanirbhar or self-reliant, this initiative aims to provide financial support to people in restoring their lives and helping them get back on feet. Anyone who is aspiring to start a small business, improve quality of life, or even buy consumer durables can secure a loan under the initiative, especially low-income rural families residing in minimal or non-banking locations, devoid of owning anything worth mortgaging.
The process of getting a small business or personal loan under “BMS Atmanirbhar Bharat Abhiyan” initiative is simple and requires minimum documentation. The process is based on Biometric Authentication through Aadhaar, making it more transparent and efficient. Thus, it eliminates the need to visit the bank and travel long distances. Upon approval, the loan amount is directly disbursed to the customer’s bank account or paid directly to the vendor/aggregator in terms of consumer durables encouraging digital cashless transactions. Customers can pay off the loan conveniently in easy weekly instalments.
Through this campaign, Bharat Money Store is providing access to safe and flexible instant loan along with a variety of other digital banking services. This will benefit poor rural population In India who lost their livelihood to rebuild their present and plan for the future, taking advantage of economic opportunities.
For more information on loans and other banking facilities, visit your nearest Bharat Money Store in in the neighbourhood or provide your details at link
*Currently present in Karnataka, Odisha, Bihar, and Maharashtra