Rural wealth management entity completes 10 years

Having delivered financial services to over 8,00,000 customers in remote rural areas across three states, Dvara KGFS now has 206 branches across the three states of Tamil Nadu, Orissa and Uttarakhand. 

LVLN Murty, Chief Business Officer of Dvara KGFS, said “New practices and the complete digitalisation of our services and processes will improve our efficiency and outreach. From our presence in three states, we will extend our expertise to other states owing to the growing demand for rural financial services in these markets.”

Since its inception, Dvara KGFS established a strong network, disbursing more than Rs 30 bn, facilitating Rs 3,000 cr in loans, managed assets to the tune of Rs 580 cr, insured 2,00,000 lives, opened 2.4 lakh savings accounts and has managed Rs 33 cr remittances.

Bindu Ananth, Chairperson of Dvara Trust, said “This journey has taken us into remote villages in India where we have become deeply embedded in the local economy. It has taught us how enterprising and resilient these economies and households are. It has given us an opportunity to collaborate with a variety of like-minded institutions and mentors. We are now geared up to take the organisation to the next level by expanding to newer markets, to be able to provide better financial access to further rural areas in India.”

Over the last 10 years, Dvara KGFS has developed a cadre of about 1000 wealth managers recruited from local communities and are adept at offering wealth management advice, tailored to unique rural needs.