Crisil Assigns A+ Rating to Svatantra Microfin Pvt Limited; Outlook Stable

Updated: 11/07/2019

Crisil Assigns A+ Rating to Svatantra Microfin Pvt Limited; Outlook Stable

 
MUMBAI, July 11, 2019 /PRNewswire/ -- Crisil — India's first and a reputed global rating agency — assigned Svatantra Microfin Private Limited (Svatantra) a rating of CRISIL A+; outlook stable. The rating is a reflection of a robust and profitable growth shown by the company with financial prudence and strong governance.
 
Since its inception in 2012, Svatantra Microfin has served over 1 million rural customers, spread across 14 states in the country through its 305 branches and has a GLP of close to INR 1,400 crs. And currently, employ about 2,700 rural youth and differentiate themselves by mobility-based operations, cashless disbursements, lowest lending rates and impactful financial services such as cashless Medi-claim, thereby ensuring fulfillment of the vision towards financial inclusion and rural women empowerment of its Founder and Chairperson Ms Ananya Birla.
 
The company is held 100% by the promoters who remain committed to the planned growth trajectory of Svatantra to a GLP of INR 5,500 - 6,000 crs with a network of about 750 branches by FY22.
 
About Svatantra Microfin Pvt. Ltd.:
 
Svatantra was incorporated in 2012 by Ms. Ananya Birla. It started its operations in Mar-13. Svatantra Microfin, is a systemically important NBFC-MFI. In a short span the organisation has emerged as the most differentiated process and technology-driven microfinance entity, which offers micro-credit at the lowest rates in the country. Svatantra today with a team of 2500+ employees serves over 600,000 rural customers across 14 states with a GLP of INR 1,407 crs. The organisation provides complete and affordable financial and non-financial solutions to rural women who are entrepreneurs themselves. Svatantra is the first microfinance institution to receive the Non-Banking Financial Company - Microfinance Institution (NBFC-MFI) license from the Reserve Bank of India. With a central aim of financial inclusion, Svatantra is the only MFI with 100% cashless disbursements facilitating activation of bank accounts for its clients. Industry recognition awarded to the company - Skoch Financial Inclusion and Deepening Award in 2014, Skoch order of merit 2017, and BFSI CTO Summit best technology initiative 2017.
 
For more information about the company please visit www.svatantramicrofin.com 
 
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Media contact details:

Sangita Das sangita.das@svatantra.adityabirla.com +91-8828342598 Manager - Corporate Communications Svatantra Microfin Pvt. Ltd.