I have always believed that repaying loans on time has a lot to do with the mind of the borrower. There is no model or perfect equation that can ensure compliance with the repayment schedule if the borrower does not have the right attitude. The social environment also has a significant role in the grooming of borrowers.

At VFS, we have been fortunate that most of our customers adhere to their repayment schedule irrespective of what they come across in life. One such story is about Punam Jha, a customer of Village Financial Services’ Mandideep branch in Madhya Pradesh.

A mother of two, Punam runs a kirana shop. In January this year, Punam approached a VFS JLG or joint lending group for a loan to buy extra stocks and scale up her kirana business. At that time, none of us could foresee the coronavirus pandemic or the lockdown that would be enforced in end-March.

Thankfully, because of the extra funds, Punam had enough stocks to operate until the logistics sector got going fully, and she could get fresh supplies.

While the lockdown hit the entire country, Punam always kept up with her repayment schedule. To her, sticking to the commitment she had made to VFS was of the utmost importance, and she did not want to falter.

Punam is just one of the many VFS borrowers who have been maintaining their commitments, not only in repayment but also in other aspects. It is because of customers with such a great attitude that VFS has been able to touch five lakh families, contributing to their financial prosperity. It is because of this experience that VFS also tries support its customers whenever they face any major unforeseen event. We never have the slightest doubt that our customers will get back on track once business gets back to normal.

We are sure that Punam’s two children will be model citizens if they have been brought up with her ethics and attitude.