Rural markets are usually cynically characterised as ‘graveyards for lenders’ owing to the uncertainties of repayment which centre around harvest cycles, and the lack of established markers to assess creditworthiness of rural customers. But one firm has broken stereotypes and has been able to ‘RISE’ to the challenge by catering to 65% of Indians who live in non-urban locations but aspire to own a ‘pucca makaan’, just like everybody else! Hear from Shantanu Rege, Chief Operating Officer of Mahindra Rural Housing Finance as he talks about helping over 1 million rural families secure a roof over their heads, all while becoming the 4th most profitable enterprise within the global Mahindra Group family of companies.
On this two-part episode of Building for Bharat, our guest shares his expert insights on just what it takes to build trust amongst rural customers. Our host Arvind Pani, Co-Founder & CEO of Reverie Language Technologies and Shantanu Rege have a heart-to-heart chat on how an NBFC can strive for profitability in an unfamiliar market with a whole host of challenges regarding tech adoption, language usage, trust in banking, and lack of documentation. And share their vision for a more equitable universe where financial inclusion and opportunities are extended to all Indians, regardless of geography.
