Moneyboxx Finance expands agroforestry drive to MP and Rajasthan as part of its beyond-lending initiatives to significantly elevate borrowers’ income & positively impact climate change
Moneyboxx Finance Limited, a BSE-listed NBFC that provides small-ticket business loans to micro-entrepreneurs in Tier-III cities and below, today expanded its agroforestry initiative to support its agri-entrepreneur and dairy farmer borrowers in planting fruit bearing trees which can substantially elevate their income and fight climate change.
As a part of this initiative, it planted over 6,700 fruit-bearing trees in Ujjain, Madhya Pradesh in Aug’23 in collaboration with Say Trees and now in Sept’23, Moneyboxx in association with its execution partner Green Ananda, has planted 2,000 fruit-bearing trees in Rajasthan covering its borrowers in Bharatpur and Bhilwara regions. The company believes that this initiative has high potential to bring significant change in their borrowers’ income and will have a positive ecological impact in terms of improvement in soil and air quality, water augmentation, food security and sustainability.
Until now, Moneyboxx has planted 12,000+ fruit-bearing trees and transformed lives of more than 85,000 households with cumulative disbursements of over INR 745 crores and AUM of INR 425 crores as of 31st August 23.
Commenting on this initiative, Mr. Deepak Aggarwal, Co-founder Moneyboxx Finance Ltd said, “Moneyboxx is committed to make beyond-lending initiatives as core to its business operations. India has the highest population of cattle in the world and about 2/3 of the rural population depends on the dairy industry. To help our dairy farmer borrowers, we hire qualified vets in our branches as impact officers who advise the borrowers on improving milk yield, feedstock selection, cattle health, breed improvement, and creating awareness about government schemes on cattle insurance etc. To further support our livestock borrowers who have farmlands, we are driving complimentary plantation of fruit-bearing trees as part of the agroforestry initiative which will lead to income elevation and sustainable development. We are committed to bring improvements in the overall environment through multiple such initiatives in the near future.”
Moneyboxx has a network of 79 branches in seven states – Rajasthan, Punjab, Haryana, Madhya Pradesh, Uttar Pradesh, Chhattisgarh and Bihar. The company plans to strengthen its presence and expand its customer reach by increasing its branch network to 100 and reach AUM of over INR 800 crores by FY24.
About Moneyboxx Finance Limited
Beginning operations in February 2019, Moneyboxx currently has 79 branches spread across seven states – Rajasthan, Punjab, Haryana, Madhya Pradesh, Uttar Pradesh, Chhattisgarh and Bihar. Moneyboxx provides unsecured and secured business loans ranging from INR 70,000 to INR 10,00,000 to individual borrowers for income generation purposes in essential and important segments (livestock, kirana, traders as well as micro-manufacturers) in Tier-III and below places.
