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Agroforestry drive to increase borrowers’ income under CSR

Agroforestry drive

Agroforestry drive to boost borrowers’ income

Agroforestry drive – Moneyboxx along with its partners planted 1,600 trees across Hisar, Kaithal and Naraingarh regions in Haryana

New Delhi: Moneyboxx Finance Limited, a BSE-listed NBFC that offers small-ticket business loans to micro and small businesses in Tier-III cities and below, declared its commitment to help its agri-preneurs borrowers establish fruit-bearing trees, which can significantly increase their revenue. 
In cooperation with its execution partner Green Ananda, Moneyboxx and its partners planted 1,600 trees in the Haryana regions of Hisar, Kaithal, and Naraingarh as part of this effort. 
According to the company, the effort will have a beneficial ecological impact in terms of improvement in soil and air quality, water augmentation, food security, and sustainability. It also has the potential to significantly modify the borrowers’ borrowers’ income.

Agroforestry drive

Up till this point, Moneyboxx has helped over 35,000 borrowers improve their life by disbursing a total of over Rs. 270 crores through August 2022. As of June 22, the corporation noted, regarding financial inclusion, 40% of borrowers were female business owners, and 40% were credit-new borrowers. 
Moneyboxx is known as a cutting-edge, technologically advanced financial organization that promotes economic growth by providing transparent finance to neglected microbusinesses.

The company’s direct-to-customer strategy keeps it grounded and helps them to have a better grasp of their customers’ requirements and a high rate of repeat business as they work to enhance the lives of the underserved segments of society and to ensure the objective of microfinancing is retained.

As part of its social responsibility, the company offers free reproductive assistance, feedstock advice, and medical support for the health of cattle to the borrowers. In addition, the majority of staff are hired from within the community, resulting in job prospects.

“We are fortunate to be able to donate and actively work towards the cause by planting fruit-bearing trees as part of an agroforestry effort, which will further benefit our livestock borrowers who also own farmlands. Through several efforts like this, we are determined to enhance the environment as a whole in the foreseeable future,” he continued.

Moneyboxx CSR

According to the business, Moneyboxx is dedicated to generating a social impact that is both transformative for its borrowers’ income and long-lasting.

“By extending credit for asset purchase, working capital, and income generation objectives, we are enabling a multi-fold rise in disposable income of our borrowers, delivering a durable benefit beyond just capital,” it continued. 
India has the biggest number of cattle in the world, and the dairy business employs almost two-thirds of the rural population. 
In five states—Rajasthan, Punjab, Haryana, Madhya Pradesh, and Uttar Pradesh—the company has a total of 43 branch networks since it started operating in February 2019. By tripling its branch network to 60 locations and increasing its AUM to over Rs. 400 crores by FY23, the company hopes to improve its position and widen its customer base. 
Individual borrowers in Tier-III and below locations can apply for unsecured and secured business loans from Moneyboxx in the range of Rs. 70,000 to Rs. 700,000 for income-generating activities (livestock, Kirana, traders, as well as micro-manufacturers).