SATYA MicroCapital continues its rapid growth by reaching 10 lakh clients

New Delhi [India], August 23 (ANI/NewsVoir): SATYA MicroCapital, one of India's fastest growing RBI registered NBFC-MFI has crossed the milestone of reaching 10 lakh active clients by offering collateral free micro credit services through cashless transactions to women entrepreneurs nestling in rural parts of the countries.
Illustrating a remarkable growth, the MFI has attained several milestones since its inception on 28th October 2016. Having an impressive loan disbursement portfolio of worth more than INR 6342 Crores, SATYA has also recently attained the feat of INR 3000 Crores Assets Under Management. SATYA aims to facilitate socio economic assistance to five million households by the year 2025.
Actively enabling financial inclusion for those nestling at the bottom of the pyramid, SATYA carries out cashless transactions by using biometric-based authentication through Aadhaar Enabled Payment Services (AEPS), which fulfils the objective of fraud prevention, efficient credit accessibility, all in one go.
Envisioning to make its clients financially empowered, SATYA also instigates distinct literacy campaigns at regular time intervals to educate them regarding digital payments, financial independence, importance of Unique Identity (Aadhaar Card, PAN) and saving habits.
Undoubtedly, the incredible growth rate with which MFI is leading the sectoral space amidst the present market is absolute reflection of its valor and vigor to make its mark against all odds. It's laudable adequacy to grow is clear exemplification to 10 Lakh women micro entrepreneurs it has empowered till date.
Commenting on achieving this landmark achievement, Vivek Tiwari-MD, CIO & CEO, SATYA MicroCapital Limited said, "I extend my sincere thanks to each member of SATYA family for letting this happen. Be it our Board of Directors, Investors, Lenders, or our employee base, each one of you have played a catalytic role in this journey. I applaud your perpetual and unwavering dedication towards the growth of the organization over these years. This is certainly a record in Indian MFI space wherein an institution has set such a grand benchmark within such a short time span of its origin".
Headquartered in the capital city of New Delhi, with the first loan disbursement at the Sikandrabad branch in the Bulandshahr district of Uttar Pradesh, SATYA initiated the course of its operational journey in January 2017.
With the foremost and fundamental goal of empowering rural women, both digitally and financially, SATYA has come a long way since its incorporation. MFI's portfolio comprises women entrepreneurs from rural and semi-urban areas whom it has rendered financial support for the purpose of income growth and income generation. Till date, SATYA has established it terrestrial footprints in more than 35,000 villages across 21 states.
SATYA 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 impoverished 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 NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)