Tamil Nadu-based financial intermediary Samunnati to start 12 branches

“We plan to start 12 operational branches in Thiruvannamalai in the first three months of our operations. Our first branch is likely to be operational by this Diwali in Thiruvannamalai. Each branch will cost around 5 lakh capex and 1 lakh of opex per month. All branches will operate in Tier 5, rural villages,” Samunnati’s Chief Executive Officer Anil Kumar SG told PTI.

It would take two years for the entity and the first branch would take around six months to turn operationally positive, he said.

Samunnati would take another one year to break even, he said adding the company would recruit locals and train them with skills necessary for financial services providers.

“Since the business’ focus is on local agricultural value chains, it is imperative that the staff has a deep understanding of the agricultural value chain specific to the district they operate in. Hence, we would recruit local talent from remote rural areas so as to harness native intelligence,” he said.

Samunnati would focus primarily on the unbanked part of the agricultural value chain.

“We will go live in the dairy segment to start with, and then get into post-harvest as well as farm mechanisation after around eight months of the pilot project,” Anil Kumar said.

Leave a comment

You might also like

Samunnati NBFC launches FPOnEXT, a structured plan for FPO finance

24 June 2021

Samunnati NBFC launches FPOnEXT, a structured plan for FPO finance

Featured in The Economic Times Chennai-headquartered NBFC Samunnati has launched FPONEXT – an exclusive network of entities that are working with...

Samunnati, Maha FPO to procure onion, gram in Maharashtra

8 June 2023

Samunnati, Maha FPO to procure onion, gram in Maharashtra

Featured in The hindu businessline Samunnati has set up an in-situ loan disbursement team to process and make payment to the...

From Planning to Execution: Using Value Chain Approach to Lending to Smallholder Farmers and Agribusiness

17 March 2016

From Planning to Execution: Using Value Chain Approach to Lending to Smallholder Farmers and Agribusiness

Santhavasal, a small village in Trivannamalai district in Tamil Nadu State in India has a vibrant dairy industry. On the...

DFC Approves $3.6 Billion of New Investments in Global Development in Largest Quarter Ever

9 September 2020

DFC Approves $3.6 Billion of New Investments in Global Development in Largest Quarter Ever

Featured in DFC WASHINGTON – The U.S. International Development Finance Corporation (DFC) Board of Directors has approved investments this quarter totaling...