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SATYA MicroCapital reaches Rs. 2000 cr. Assets under Management

December 31, 2021 19:00 IST | ANI Press Release
Tennis player James Blake
SATYA MicroCapital Ltd.

New Delhi [India], December 31 (ANI/NewsVoir): Despite of confronting various challenges posed by pandemic, SATYA MicroCapital Ltd., RBI registered NBFC-MFIs has once again proved that nothing can deter the organization from achieving remarkable growth.

One of the most prominent MFIs in nation, SATYA MicroCapital has added multifarious golden feathers in its cap since its establishment in October 2016. SATYA will be welcoming the auspicious start of new year by setting benchmark of attaining Rs. 2000 crore worth of Assets under Management.

With its Headquarters based in New Delhi, and its first loan disbursement at Sikandrabad branch in Bulandshar district of Uttar Pradesh, SATYA started its operational journey in January 2017. Since then, the MFI has recorded an exponential growth rate, having achieved an Assets under Management (AUM) value of over Rs. 2000 crore withing just 5 years of its inception.

Commenting on the phenomenal accomplishment of this coveted milestone, Vivek Tiwari - MD, CIO & CEO, SATYA MicroCapital Limited, said, "We at SATYA has always made sure that we transform every challenge into opportunity which will pave way for our success. Despite of today's tough market dominated by the disruptions posed by COVID-19, SATYA's foremost priority will always be staying integrally committed towards serving the unbanked and marginalized section of the population nestling across the rural and semi urban belt of the country. SATYA is able to attain the best possible debt-to-equity ratio incited by unwavering efforts and hard work exhibited by our hardworking taskforce. I extend my heartfelt gratitude to our Investors, Lenders, Industry Peers, Banking Institutions and every single person who has supported us in this journey. Since Day 1, we have been successfully facilitating affordable financial services to microentrepreneurs for their holistic socio-economic upliftment. It is evident that adoption of technological intervention in microfinance landscape is creating lucrative growth opportunities and it completely depends on us how positively we leverage this digital evolution. Exactly on same day back in 2019, SATYA recorded AUM of worth Rs. 800 Cr. and today precisely after two years of sheer dedication and steady resilience, we have accomplished AUM of Rs. 2000 C. This achievement is a direct testimony of the fact that SATYA is on the right track."

SATYA has fostered an ecosystem for the growth of microfinance industry within India. It has also significantly generated comprehensive economic opportunities for more than 7 lac microentrepreneurs by providing comprehensive loan disbursement of worth approx. Rs. 4500 crores thereby serving as an impetus for inclusive growth and development of the marginalized sector of the population at the grass root level.

With a terrestrial operational network of over 275 branches in more than 27500 villages across 21 states, SATYA is fostering financial inclusion in even in the most remote parts of the country. It offers collateral free customer-focused credit solutions to females primarily working towards establishing their own microenterprises.

Envisioning its future course of action, SATYA aims to act as a catalyst for the socio-economic upliftment of 5 million households by the year 2025. Along with educating its clients about financial inclusion, digital banking, saving options, and government schemes, the company is earnestly imbibing a new dimension in the Indian microlending space.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


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

 

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SATYA MicroCapital reaches Rs. 2000 cr. Assets under Management

New Delhi [India], December 31 (ANI/NewsVoir): Despite of confronting various challenges posed by pandemic, SATYA MicroCapital Ltd., RBI registered NBFC-MFIs has once again proved that nothing can deter the organization from achieving remarkable growth.

One of the most prominent MFIs in nation, SATYA MicroCapital has added multifarious golden feathers in its cap since its establishment in October 2016. SATYA will be welcoming the auspicious start of new year by setting benchmark of attaining Rs. 2000 crore worth of Assets under Management.

With its Headquarters based in New Delhi, and its first loan disbursement at Sikandrabad branch in Bulandshar district of Uttar Pradesh, SATYA started its operational journey in January 2017. Since then, the MFI has recorded an exponential growth rate, having achieved an Assets under Management (AUM) value of over Rs. 2000 crore withing just 5 years of its inception.

Commenting on the phenomenal accomplishment of this coveted milestone, Vivek Tiwari - MD, CIO & CEO, SATYA MicroCapital Limited, said, "We at SATYA has always made sure that we transform every challenge into opportunity which will pave way for our success. Despite of today's tough market dominated by the disruptions posed by COVID-19, SATYA's foremost priority will always be staying integrally committed towards serving the unbanked and marginalized section of the population nestling across the rural and semi urban belt of the country. SATYA is able to attain the best possible debt-to-equity ratio incited by unwavering efforts and hard work exhibited by our hardworking taskforce. I extend my heartfelt gratitude to our Investors, Lenders, Industry Peers, Banking Institutions and every single person who has supported us in this journey. Since Day 1, we have been successfully facilitating affordable financial services to microentrepreneurs for their holistic socio-economic upliftment. It is evident that adoption of technological intervention in microfinance landscape is creating lucrative growth opportunities and it completely depends on us how positively we leverage this digital evolution. Exactly on same day back in 2019, SATYA recorded AUM of worth Rs. 800 Cr. and today precisely after two years of sheer dedication and steady resilience, we have accomplished AUM of Rs. 2000 C. This achievement is a direct testimony of the fact that SATYA is on the right track."

SATYA has fostered an ecosystem for the growth of microfinance industry within India. It has also significantly generated comprehensive economic opportunities for more than 7 lac microentrepreneurs by providing comprehensive loan disbursement of worth approx. Rs. 4500 crores thereby serving as an impetus for inclusive growth and development of the marginalized sector of the population at the grass root level.

With a terrestrial operational network of over 275 branches in more than 27500 villages across 21 states, SATYA is fostering financial inclusion in even in the most remote parts of the country. It offers collateral free customer-focused credit solutions to females primarily working towards establishing their own microenterprises.

Envisioning its future course of action, SATYA aims to act as a catalyst for the socio-economic upliftment of 5 million households by the year 2025. Along with educating its clients about financial inclusion, digital banking, saving options, and government schemes, the company is earnestly imbibing a new dimension in the Indian microlending space.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


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

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