Moneyboxx Finance expands agroforestry drive to Jind, Haryana

Moneyboxx Finance Limited (Moneyboxx), a BSE-listed Non-Banking Finance Company that focuses on impact financing by providing business loans to micro entrepreneurs in Tier-III & below places, today expanded its agroforestry initiative to support its agri-entrepreneur and dairy farmer borrowers in planting fruitbearing trees which can substantially elevate their income and fight climate change.

As a part of this initiative, it planted over 4,100 fruit-bearing trees in Jind, Haryana, in October '24 in association with its execution partner, Green Ananda. The company believes that this initiative has the potential to change its borrowers' income significantly and will have a positive ecological impact in terms of improving soil and air quality, water augmentation, food security, and sustainability.

Until now, Moneyboxx has planted 16,000+ fruit-bearing trees and transformed the lives of more than 1,60,000 borrowers (including co-borrowers), of which 58% were women and 30% new-to-credit. The company's strategic plan includes expanding its branch network to over 160 branches and achieving AUM of over INR 1,300 crore by March 2025 from INR 730 crore as of March 2024.

Commenting on this initiative, Mr. Mayur Modi, Co-founder Moneyboxx Finance Ltd said, "Moneyboxx is committed to 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."

Shares of Moneyboxx Finance Ltd was last trading in BSE at Rs. 259.65 as compared to the previous close of Rs. 260.85. The total number of shares traded during the day was 11246 in over 209 trades.

The stock hit an intraday high of Rs. 263.55 and intraday low of 258.20. The net turnover during the day was Rs. 2934816.00.

Source : Equity Bulls

Keywords

MoneyboxxFinance INE296Q01012 AgroforestryInitiative Expansion Jind Haryana