New Delhi [India] March 20 (/Digpu): Giving centre stage to its phenomenal growth, one of the fastest-growing MFIs in India, SATYA MicroCapital has crossed several milestones since its inception on October 28, 2016.
With a total loan disbursement of Rs 1700 plus crores to its name, SATYA has set another benchmark by attaining Rs 1000 crore worth of assets under management.
Headquartered in the capital city of New Delhi, with first loan disbursement at Sikandrabad branch in Bulandshahar district of Uttar Pradesh, SATYA initiated the course of its operational journey in January 2017.
Since then, the MFI catalogued a remarkable growth rate, having achieved an asset under management (AUM) value of over Rs 1000 crore.
With the foremost and fundamental goal of empowering rural women, both digitally and financially, SATYA has come a long way since its incorporation. A majority of the MFI's portfolio comprises women entrepreneurs from rural and semi-urban areas whom SATYA MicroCapital has rendered financial support for setting up and developing their businesses.
Till date, SATYA has its operational services active in 141 branches in124 districts across 22 states (Assam, Bihar, Chandigarh, Chhattisgarh, Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Madhya Pradesh, Meghalaya, Odisha, Punjab, Rajasthan, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhand & West Bengal, Gujarat).
"Striving to stay committed for serving the people at the bottom of the pyramid, in today's tough market, SATYA is able to attain the best possible debt-to-equity ratio fuelled by remarkable efforts and hard work exhibited by our exemplary employees. Their attention to detail at work made it possible for us. Since its establishment, SATYA has been successfully providing financial services to more than 4,00,000 financially marginalised people for the sky-high development of their social and economic prospects. It is certainly a record in MFI Industry wherein an institution has attained such a grand slam within three years and four months of its origin", said Vivek Tiwari - MD & CEO, SATYA MicroCapital Limited.
Tussling with the slowdown which the national economy is going through, the MFI is integrally concentrated towards providing financial services to people generally excluded from traditional banking channels because of their low, irregular and unpredictable income.
It aims to set up and boost the provision of easily accessible, cost-effective and sustainable financial services to impoverish to build their financial capacity and ability to grow to financial self-sufficiency.
In addition to yielding financial aid to unbanked sections of the population, SATYA MicroCapital consistently associates with institutions of the same wavelength to disseminate the importance of digital and financial literacy in rural areas.
This story is provided by Digpu. will not be responsible in any way for the content of this article. (/Digpu)
( With inputs from ANI )