SATYA MicroCapital crosses Rs 5,001 crores Assets Under Management mark

New Delhi [India], April 4 (ANI/NewsVoir): SATYA MicroCapital, one of the fastest growing RBI registered NBFC-MFI has achieved the milestone of Rs 5001 crores Assets Under Management on the commencement of FY23-24. This is not the only feather SATYA has added to its golden cap at this momentous occasion. SATYA has also received fresh capital of worth Rs 153.45 crores (approx. USD 18.92 Million) from Gojo & Company Inc. which will further bolster the operational implementation of the micro finance institution in forthcoming fiscal year. This stands as the testimony of the phenomenal growth exhibited by SATYA since its inception.
With a cumulative loan disbursement of Rs 9900+ crores under its portfolio, SATYA has attained multifarious accomplishments and is geared up for more henceforth. Headquartered in the capital city of New Delhi, with its first loan disbursement at Sikandrabad branch in Bulandshahr district of Uttar Pradesh, SATYA embarked on the course of its operational journey in January 2017. The MFI is furnishing its affordable and accessible micro credit services to more than 14.50 lakh active women microentrepreneurs nestled in rural and semi-urban parts of the country. It is certainly a record in MFI Industry wherein an institution has attained such a grand slam in 6+ years of its origin.
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 the purpose of income generation and growth. Till date, SATYA has established its active terrestrial presence through a vast operational network of 500+ branches in more than 45,000 villages across 22 states. With the helm of its services focused towards serving as a catalyst for the socio-economic upliftment of people at the bottom of the pyramid, since establishment SATYA has till now empowered more than 30 lakh households by creating livelihood through entrepreneurship.
Sharing his views on the company's feat, Vivek Tiwari - MD, CIO CEO, SATYA MicroCapital Limited, said, "Determined to stay devoted for serving the people at the bottom of the pyramid, in today's cutthroat market, SATYA is able to attain the best probable debt-to-equity ratio instigated by hard work exhibited by our dedicated employees. The entire workforce of 5500+ employees has played an intrinsic role in the growth of the organization over these past six years. I would also like to extend our heartfelt gratitude to our board of directors and the network of all the esteemed investors and lenders who have played a catalytic role in this journey."
On the achievement of this milestone, Tiwari also stated, "It is an absolute state of delight that SATYA MicroHousing along working in tandem with SATYA MicroCapital has also provided affordable micro housing loan to approximately 1000 households. We will endure to create a robust micro housing platform for our clients so that they can fulfill their dream of owning a home. Additionally, with this new capital infusion received from Gojo & Company Inc., we will not only strengthen our operational portfolio but will also get catapult to accomplish SATYA's vision of socio-economically uplifting 5 million households by 2025 on a faster pace."
SATYA is integrally concentrated on 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 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.
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