With Rs. 1000 crore loan outstanding portfolio SATYA MicroCapital adds one more feather in its cap
Giving centre stage to its phenomenal growth, one of the fastest growing MFIs in India, SATYA MicroCapital has crossed several milestones since its inceptionon 28thOctober 2016.With a total loan disbursement of Rs. 1700+crores to its name, SATYA has set another benchmark byattaining Rs. 1000 crore worth of Assets under Management.
With its headquarters based in the capital city of New Delhi, SATYA initiated the course of its journey with first loan disbursement at Sikandrabad branch in Bulandshar district of Uttar Pradesh in November 2016. Since then, the MFI catalogued a remarkable growth rate, having achieved an Assets 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).
Commenting on the company’s success, Mr. Vivek Tiwari – MD & CEO, SATYA MicroCapital Limited, said, “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 3 years and 4 months of its origin.”
Tussling with the slowdown which national economy is going through, the MFI isintegrally 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 impoverishedto build their financial capacity and ability to grow to financial self-sufficiency. In addition to yielding financial aid to unbanked section of the population, SATYA MicroCapital consistently associates with institutions of same wavelength to disseminate the importance of digital and financial literacy in rural areas.