STAFF REPORTER
GUWAHATI: IIFL Finance has announced plans to expand its branch network in Assam to 200 outlets over the next two years, creating 500 jobs and increasing its workforce in the state to 1,000 employees, with priority given to local youth.
The expansion aims to improve access to credit for small businesses, entrepreneurs and underserved communities in rural and semi-urban areas. The company currently operates in Assam with more than 3.5 lakh borrowers.
Mayank Sharma, President and Head of Gold Loans at IIFL Finance, said the company's expansion built on its 16 years of operations in the state. He said the proposed 100 additional branches would help provide faster and more accessible working capital to small business owners.
The company's customers include traditional weavers, grocery shop owners, dairy farmers, poultry businesses and local traders who use gold loans to meet immediate funding requirements. Women entrepreneurs account for around 40 per cent of its portfolio in Assam.
IIFL Finance attributed its expansion plans to Assam's economic potential, improved connectivity and infrastructure, and growth in allied agricultural sectors.
Through the IIFL Foundation, the company has also provided relief materials to flood-affected communities and, in collaboration with the Indian Army, conducted skill development programmes in remote and border areas to support employment and entrepreneurship among local youth.
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