Fullerton India Credit Company Limited, a leading Non-Banking Finance Company, bagged two awards at the ABP BFSI Awards held in Mumbai on the 14th of February. It won the first award for the ‘Innovative Initiative in Social Sector -Banking’ for its unique Merchandise Loan product that enables rural households to access products that provide energy and safe drinking water. The second award was won for the ‘Best Use of Mobile Technology in Financial Services’ for the deployment of innovative bio-metric based transaction devices in the operations of Fullerton India’s rural business, Gramshakti..
Fullerton India’s Rural Finance Business, Gramshakti, has a strong foothold in seven states of Rural India, with a customer base of over 600,000 rural households. With an enviable reach that covers the last mile between the branch and the end customer in over 30,000 villages, Fullerton India’s Gramshakti network enables financial inclusion of the under-served and un-served segments of the rural markets. It is one of the pioneers in adoption of the innovative bio-metric authentication processes for transactions enabled by hand-held point of transaction devices, thereby enabling the company to provide better and faster customer service with great level of transparency, earning customer trust and confidence.
In addition to its core business of financial services, Fullerton India has also partnered with several companies to promote relevant products like solar lamps, water filters and Eco cook stoves. Using its extensive reach and its 3000-strong team of rural field officers, Fullerton India promotes these products to its customers, creating awareness and generating interest. More importantly, it enables interested households to adopt these eco-friendly products by providing them a unique Merchandise Loan to acquire these products. From April 2012 to December 2013, Fullerton India financed more than 200,000 solar lanterns, water filters, Eco cook stoves and bicycles. Thus, helping improve the quality of lives and standard of living of nearly 200,000 rural households.
Commenting on the awards, Ravi Shankar, Executive Vice President & Head of Business & Marketing stated, “Fullerton India is strongly committed towards the overall development of rural India. We have invested heavily in technology and infrastructure to ensure transparency and service to our customers. It is very encouraging that our continuous efforts have been recognized in the awards that we have won for our bio-metric device and our unique Merchandise Loan product that has been recognized both nationally and internationally as the best end-user financing model.”
The two wins follow Fullerton India’s recent gold award win at the 10th Annual RMAI Flame Awards 2014 in the ‘Last Mile Distribution / Channel Development Initiative of the Year – in Rural’ category. The string of awards that the company has won in the past year continues to reinforce its commitment towards social and economic development.
About Fullerton India Credit Company Limited
Fullerton India Credit Company Limited is one of India’s leading Non-Banking Finance Companies (NBFC). It has 370 branches spread across 20 states in urban and rural centres, covering more than 600 towns and 30000 villages. It offers several retail finance products for varying needs of customers ranging from rural households to SMEs, in the locations it serves. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.
Fullerton India’s Rural Finance Business, Gramshakti, has a strong foothold in seven states of Rural India, with a customer base of over 600,000 rural households. With an enviable reach that covers the last mile between the branch and the end customer in over 30,000 villages, Fullerton India’s Gramshakti network enables financial inclusion of the under-served and un-served segments of the rural markets. It is one of the pioneers in adoption of the innovative bio-metric authentication processes for transactions enabled by hand-held point of transaction devices, thereby enabling the company to provide better and faster customer service with great level of transparency, earning customer trust and confidence.
In addition to its core business of financial services, Fullerton India has also partnered with several companies to promote relevant products like solar lamps, water filters and Eco cook stoves. Using its extensive reach and its 3000-strong team of rural field officers, Fullerton India promotes these products to its customers, creating awareness and generating interest. More importantly, it enables interested households to adopt these eco-friendly products by providing them a unique Merchandise Loan to acquire these products. From April 2012 to December 2013, Fullerton India financed more than 200,000 solar lanterns, water filters, Eco cook stoves and bicycles. Thus, helping improve the quality of lives and standard of living of nearly 200,000 rural households.
Commenting on the awards, Ravi Shankar, Executive Vice President & Head of Business & Marketing stated, “Fullerton India is strongly committed towards the overall development of rural India. We have invested heavily in technology and infrastructure to ensure transparency and service to our customers. It is very encouraging that our continuous efforts have been recognized in the awards that we have won for our bio-metric device and our unique Merchandise Loan product that has been recognized both nationally and internationally as the best end-user financing model.”
The two wins follow Fullerton India’s recent gold award win at the 10th Annual RMAI Flame Awards 2014 in the ‘Last Mile Distribution / Channel Development Initiative of the Year – in Rural’ category. The string of awards that the company has won in the past year continues to reinforce its commitment towards social and economic development.
About Fullerton India Credit Company Limited
Fullerton India Credit Company Limited is one of India’s leading Non-Banking Finance Companies (NBFC). It has 370 branches spread across 20 states in urban and rural centres, covering more than 600 towns and 30000 villages. It offers several retail finance products for varying needs of customers ranging from rural households to SMEs, in the locations it serves. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.
