The Hindu Business Line : IFMR Trust to help low income households

Chennai, Jan. 9 The Institute of Financial Management and Research (IFMR) today launched the ‘IFMR Trust’. The Trust will “create and manage funds which will invest in commercial enterprises that leverage the competitive strengths of low income households.”

IFMR already runs initiatives towards building channels to deliver financial and other services in rural remote locations. It has already invested around Rs 30 crore in seven commercial enterprises focussed on low income households and expects to raise the investments to Rs 600 crore by March 2009, Ms Bindu Ananth, President, IFMR Trust, said. The ICICI Foundation for Inclusive Growth will mentor IFMR Trust, the Foundation’s President, Dr Nachiket Mor, said.

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