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

twitter-logoPTI | July 11, 2019 | Updated 16:46 IST

(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.) 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 PWR PWR

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