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Satin Creditcare partners with IndusInd Bank

ANI  |  New Delhi [India] 

Satin Creditcare Network Limited, the second largest company in India, has entered into a Correspondent (BC) partnership with

Till date, SCNL has disbursed more than Rs. 200 cr. across Bihar, West Bengal, Uttar Pradesh, and under this partnership, and is looking forward to the opportunity to scale up in the short term.

SCNL has also diversified into housing and BC partnerships with other banks/NBFC through its subsidiaries Satin Housing Limited and respectively. Lending for micro, small, and medium enterprises (MSME) is currently managed by the parent company SCNL.

Along with product diversification, SCNL is also working towards nationwide presence. It has recently commenced operations in South India, with the first loan disbursement in Chennai, With this, SCNL is now operationally present in 21 states and union territories. The company also plans to enter market later this year.

With a total asset under management (AUM) of INR 6,025.70 cr. at Q1FY19, and over 30 lakh financially active women as its clients, SCNL already has a strong foothold in North-East, Uttar Pradesh, Bihar, and Last year, it started operations in North Eastern states, i.e., Assam, and

"Partnership with will be a key enabler to achieve this objective. We have also made a strong start in MSME and housing and expect a robust growth in these segments. All our efforts are aimed at optimizing risk and ensuring a robust top and bottom-line in the long run," said HP Singh, Chairman and Managing Director,

To empower its clients with better quality of life, SCNL also extends solar, water, and sanitation loans. The company has partnered with global firms such as TWP, and d.light to disburse solar loans in Uttar Pradesh, Bihar, Haryana, Punjab, Rajasthan, Orissa, Assam, and Moreover, through its partnership with Water.org, SCNL has disbursed more than 80,000 water and sanitation loans in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 15 2018. 13:00 IST
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