National: Moneyboxx Finance Limited, a BSE-listed NBFC that provides small-ticket business loans to micro-entrepreneurs in Tier-III cities and below, 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 1,600 fruit-bearing trees in Haryana in September 2022 in the first phase, and now in December 2022, Moneyboxx in association with its execution partner Green Ananda is planting 1,800 fruit-bearing trees in Madhya Pradesh covering its borrowers in Agar, Mandsaur, Ujjain, and Dewas regions. The company believes that this initiative has a 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 transformed the lives of more than 22,000 households with cumulative disbursements of over INR 350 crores up to November 2022.
Commenting on this initiative, Deepak Aggarwal, Co-founder Moneyboxx Finance Ltd., said, “Moneyboxx is committed to making 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 the plantation of fruit-bearing trees as part of the agroforestry initiative which will lead to income elevation and sustainable development. We are committed to bringing improvements in the overall environment through multiple such initiatives in the near future.”