Mr. Joby. C. O., CEO - Dvara KGFS on the statement by RBI Governor today morning

“While we are still waiting for the detailed guidelines, RBI’s measures to ease the liquidity stress especially for the small & mid-size NBFCs & MFIs under the Targeted Long-Term Repo Operations 2.0 scheme & special refinance facilities through NABARD, SIDBI & NHB is commendable. We Dvara KGFS, with an asset under management touching 1,000 Crores & offering JLG & micro enterprise loans to the rural poor across 6 states through our network of 300 branches are confident about availing this funding which will help us infuse sufficient funding into the deep rural belt & revive the economic activities once the lockdown is lifted. Additionally, exclusion of moratorium period for NPA recognition by RBI will provide a brief relaxation on provisioning requirement in the short term.”

About Mr. Joby C O –

Joby is the Chief Executive Officer of Dvara KGFS. Earlier, he was the CEO of Varam, a new-age financial institution with a passionate team & digital capability to offer superior customer experience, robust credit underwriting and efficient risk management. Varam was acquired by Dvara KGFS in April 2019.

In the past, he has served in senior roles with MFIs, Banks and Financial Institutions. He has more than 16 years of experience in the Indian microfinance market. A Chartered Accountant, he was earlier the CFO of ESAF Microfinance & Investments Pvt. Ltd., (Now ESAF Small Finance Bank). Prior to that, he was the Vice President at IFMR Capital (Now Northern Arc Capital). In his earlier avatar, he was the Head Global Microfinance – Global Principal Investment and Trading Group (GPITG) at ICICI Bank. His association with Microfinance started with his stint as the Head of Finance, Accounts & Operations at Indian Association for Savings & Credit (IASC).

About Dvara KGFS –

Dvara KGFS was incorporated in August 2008 by Dvara Trust, a private trust set up with the mission “To ensure that every individual and every enterprise has complete access to financial services.” Dvara KGFS works to achieve this goal by setting up a network of branches in remote rural areas that offer a range of financial products and services. Dvara KGFS currently operates in the states of Tamil Nadu, Odisha, Uttarakhand, Karnataka, Jharkhand and Chhattisgarh serving individual customers and enterprises in remote rural areas. The organisation instils this mission into business by facilitating and originating financial products and services on behalf of financial institutions (NBFCs & Banks) through a unique branch-based business model called Kshetriya Gramin Finanical Services (KGFS: KGFS translates to Regional Rural Financial Services). Dvara KGFS follows a customer-centric model and offers products and services through a “Wealth Management” approach.