Author: admin

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September 20, 2022

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Introduction

[/fusion_title][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” fusion_font_family_text_font=”Poppins” fusion_font_variant_text_font=”400″ text_transform=”none” animation_direction=”left” animation_speed=”0.3″]

Capital and people are the two main resources that the organization requires to function. The microfinance company is especially attentive to operational financial hardship. Finance is important, but it is merely a tool in people’s hands. Individuals manage money; it does not handle itself. Recruiting, training, maintaining, encouraging, and nurturing a team of employees that will successfully carry out the MFIs goal depends on the tools and procedures used in human resource management. Enterprise will be prepared for expansion, equipped to handle the difficulties of a changing environment, and responsive to the requirements of customers if you develop solid, effective human resource processes and tools.

[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” fusion_font_family_text_font=”Poppins” fusion_font_variant_text_font=”400″ text_transform=”none” animation_direction=”left” animation_speed=”0.3″]What role is served by human resource management in microfinance companies?
Every institution is made up of a group of interconnected individuals. The MFIs personnel must be competent, professional, and productive in order for it to be successful. The management of these people can not only increase their performance as individuals but also foster teamwork that can do more than any one person could on their own.

No matter their designation within the MFI, every employee needs the very same elements to succeed.
Everyone should:
1. Adhere to the goals of MFI
2. Recognize their contribution to the objective and how their function fits it.
3. Clearly understand what is required of them.
4. Possess the ability, resources, and environment required to succeed
5. Get motivation.
Human resource management’s job is to put in place the tools and mechanisms that will give to MFIs employees these essential components so they can succeed and be energetic. The MFI will be prosperous when individuals perform well.[/fusion_text][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” top_margin=”5″ alignment=”center” /][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ title_link=”off” link_target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” content_align=”left” size=”3″ font_size=”18px” line_height=”1″ text_shadow=”no” text_shadow_blur=”0″ margin_top=”0px” gradient_font=”no” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ style_type=”default” animation_direction=”left” animation_speed=”0.3″]What elements influence human resource management?[/fusion_title][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” fusion_font_family_text_font=”Poppins” fusion_font_variant_text_font=”400″ text_transform=”none” animation_direction=”left” animation_speed=”0.3″]

Society, the microfinance company, and the employees are the three key variables that have an impact on the tasks and objectives of human resource management. Each of these constituencies should be taken into account while handling the human resources at MFI.

Society: HRM might be impacted by the setting in which you work. MFIs positions of authority, by necessity, address some of society’s demands and problems. These may include problems in the area including poverty, high illiteracy rates, environmental concerns, and violence. The competitiveness in the microfinance industry and even the relationship with funders are some additional external elements that will impact HRM. The MFI must manage these difficulties as well as be aware of and obedient to local legal regulations and labour laws. Human resource management practices will be impacted by this. The challenges that MFI must deal with in employee management may also be influenced by a variety of unwritten social norms or standards.

The Microfinance Company: The performance of MFI is the primary goal of human resource management. Consequently, the foundation of how you tackle human constraints will be the goal, plan, and aspirations of the MFI. The HRM structure and operations must be in line with the MFIs size and requirements. If the HRM tools and procedures are more or less advanced than what the organization requires or can fund, you could be squandering valuable resources.

The Staff: Successful human resource management will support each employee’s participation in order to achieve success for MFI. As was already mentioned, the success of each member of the team is crucial to the success of the organization. There are numerous HRM systems and solutions available to boost each employee’s productivity, which in turn helps MFI thrive.

[/fusion_text][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ title_link=”off” link_target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” content_align=”left” size=”3″ font_size=”18px” line_height=”1″ text_shadow=”no” text_shadow_blur=”0″ margin_top=”0px” gradient_font=”no” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ style_type=”default” animation_direction=”left” animation_speed=”0.3″]

Who is accountable for HRM?

[/fusion_title][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” fusion_font_family_text_font=”Poppins” fusion_font_variant_text_font=”400″ text_transform=”none” animation_direction=”left” animation_speed=”0.3″]Each manager is ultimately accountable for the actions related to human resource management. HRM tasks will only be partially completed if management refuses to take this obligation. The capacity of a manager to manage personnel immediately affects the capabilities of the human resources available
within the MFI. Giving staff what they need to succeed requires strong leadership and effective employee management. Although they might offer a solid framework, HRM systems and technologies cannot ensure success. Each manager’s capacity to lead and connect with staff is essential for successful staff management.

At MFI, the HRM team’s job is to provide every manager with the tactics, frameworks, and resources they need to manage their personnel effectively. Human Resource Management is a support service having “internal clients”—staff and managers—just like the Finance Department. This idea can seem to go against what you would anticipate. Many employees at the MFI might believe that the dedicated HRM employee should handle all HRM tasks. This is true for the creation, management, evaluation, and monitoring of HRM systems; but, for such systems to work well, the managers must be aware of their responsibilities and roles while utilizing those systems and tools for efficient staff management.[/fusion_text][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ title_link=”off” link_target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” content_align=”left” size=”3″ font_size=”18px” line_height=”1″ text_shadow=”no” text_shadow_blur=”0″ margin_top=”0px” gradient_font=”no” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ style_type=”default” animation_direction=”left” animation_speed=”0.3″]How does HRM change as MFI expands?[/fusion_title][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” fusion_font_family_text_font=”Poppins” fusion_font_variant_text_font=”400″ text_transform=”none” animation_direction=”left” animation_speed=”0.3″]Setting up HRM systems early on will help the MFI be prepared to handle the growing administrative demands brought on by hiring more staff. As the firm grows, institutionalizing these frameworks will help to make sure that efficient HRM procedures are embedded in corporate culture. These HRM structures would comprise, but not be limited to, performance appraisal, management tools, recruitment policy, orientation and training programs for new hires, and hiring and selection processes. These systems and processes don’t have to be difficult or elaborate at first. As the MFI expands, it could change. No matter the size, establishing HRM processes from the start will enable Human Resource Management to develop alongside the MFI.[/fusion_text][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ title_link=”off” link_target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” content_align=”left” size=”3″ font_size=”18px” line_height=”1″ text_shadow=”no” text_shadow_blur=”0″ margin_top=”0px” gradient_font=”no” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ style_type=”default” animation_direction=”left” animation_speed=”0.3″]Conclusion[/fusion_title][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” fusion_font_family_text_font=”Poppins” fusion_font_variant_text_font=”400″ text_transform=”none” animation_direction=”left” animation_speed=”0.3″]Policies are being implemented and HR is becoming more vital. By establishing specialized Human resources that concentrate on all facets of HR, medium MFIs are moving on to the next tier. Larger MFIs are setting the standard for others to follow when it comes to benchmarking with other industries. The smaller businesses could likewise really pursue HR initiatives with a little assistance. A great method to increase the staff’s devotion to the company and strengthen the value for consumers the institution stands for is to treat them with the same consideration and openness that the organization demands of its clients.[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_3″ type=”1_3″ layout=”1_5″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_right=”2%” background_blend_mode=”overlay” min_height=”” link=””][fusion_separator style_type=”none” /][fusion_slider alignment=”right” hover_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_aspect_ratio=”16:9″ video_mute=”yes” video_loop=”yes” fade=”no” border_style=”solid” padding_top=”30px” padding_bottom=”150px” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” type=”flex”][fusion_builder_row][fusion_builder_column type=”1_5″ type=”1_5″ layout=”1_5″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”true” spacing_right=”2%” background_blend_mode=”overlay” min_height=”” link=””][fusion_separator style_type=”none” /][/fusion_builder_column][fusion_builder_column type=”3_5″ type=”3_5″ layout=”3_5″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_right=”2%” spacing_left=”2%” background_blend_mode=”overlay” min_height=”” link=””][fusion_sharing tagline=”Share This Post” icons_boxed_radius=”4px” /][/fusion_builder_column][fusion_builder_column type=”1_5″ type=”1_5″ layout=”1_5″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_left=”2%” background_blend_mode=”overlay” min_height=”” link=””][fusion_separator style_type=”none” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

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September 15, 2022

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Flipkart co-founder Sachin Bansal-led Navi Technologies has received the green signal from markets regulator the Securities and Exchange Board of India (SEBI) for its public listing.

Navi Technologies had filed draft papers in March this year with SEBI to raise up to Rs 3,350 crore through a fresh issue of shares. The IPO will have an offer for sale (OFS) by Bansal who holds a 97.39 percent stake in the fintech.

To Read More: https:https://www.moneycontrol.com/news/business/sachin-bansals-navi-technologies-gets-nod-for-ipo-from-sebi-9166441.html

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In a development perspective, microfinance has evolved into a program for women’s economic empowerment and poverty alleviation. One of the most successful methods for enabling the financial inclusion of the poor is microfinance. Microfinance companies in India have played a critical role in expanding access to financial services for low-income households, especially women. This has essentially meant offering no-collateral loans to financially underprivileged women, who are frequently grouped into self-help or joint liability groups. The not-for-profit sector was where microfinance first emerged. The majority of Microfinance Institutions (MFIs) that were founded in the middle of the 1990s were nonprofit charity trusts and societies. They eventually changed into for-profit Non-Banking Financial Companies as they expanded because this was necessary for them to draw risk capital.

When social enterprises started financing to the working poor on a large basis in the 1970s, microfinance had its start. One person who has achieved international recognition for his work in microfinance is Prof. Muhammad Yunus, who received the Nobel Peace Prize in 2006 alongside Grameen Bank. Microfinance was created to assist people in escaping poverty.
Various development strategies aimed at lowering poverty in developing countries have been created over the past 20 years by governments, international development organizations, non-governmental organizations, and many others. Among these programmes that has gained prominence since the early 1990s is microfinance, which offers financial services in the manner of savings and credit prospects to the working poor.

The microfinance sector in India has been instrumental since its inception in promoting and empowering the rural and economically backward people of India. However, micro financing companies in India are still facing challenges of their own as they look to the future. To sustain this positive impact, it needs to strike a balance between growth and borrower protection. The industry has started serving more people by incorporating technological advancements such as digital platforms for loans, and fintech innovations.

Among other microfinance companies, Chaitanya is one of the top microfinance companies in India and has digitized the processes intending to serve the people through its microfinance solutions. The goal is to ensure fair practices and protection of the borrowers to promote economic growth and a future where microfinance reaches the grassroots of India’s diverse economy.

HOW DOES MICROFINANCE WORK?

Best microfinance company in India through giving microfinance loans paves the way to give innovators and owners of small businesses access to financing. Independent and small businesses generally don’t have access to the conventional financial resources that big institutions offer. This makes it more challenging for them to get the financing, insurance, and investments they need to grow their business.

Microloans, micro savings, and microinsurance are just a few examples of the wide range of financial products that microfinance institutions (MFIs) provide.
More than only those who already use or want to utilize small loans are impacted by the establishment and growth of the microfinance market. Within India, there are two main avenues for microloans: the NABARD Bank Linkage Program and Microfinance Institutions or Organizations (MFIs).

IMPORTANCE OF MICROFINANCE

For a country like India, where even more than 80% of individuals work in the unorganized sector, microfinance institutions are crucial. Because of the massive fees, local banks are often not an option for small business owners. People can lack the paperwork needed to create an account, such as identity cards and income verification. Or they are unable to read and write clearly enough to complete the forms. Microfinance performs this responsibility and fills this void.
In India, microfinance has a significant impact on the country ’s economic development. It serves as an antidote against poverty for those who reside in rural areas. Its goal is to support financially disadvantaged communities in achieving higher levels of wealth development and income security for both households and entire communities. The most important function of microfinance in India is to provide small business owners with access to money. As was already said, micro finance company India offers access to loans, insurance, and savings accounts.

By providing them with loans, the microfinance philosophy focuses on women as well. It serves as a tool for the strengthening of low-income women because as they gain independence, they can immediately improve the lives of their families and challenge all forms of gender inequality. The poor households in rural and urban areas, as well as women, are the main focus of microfinance. Regarding the minimum and maximum sums that can be loaned, the Reserve Bank of India does not impose any restrictions.

For the impoverished to continue earning money and meeting their expenses, credit is crucial. Additionally, it is essential to the impoverished for revenue activities like investing in small-scale self- employment projects like marginal farms. Due to resource constraints and the structure of formal credit organizations, their access to traditional banking channels is limited. As a result of meeting the credit needs of the poor, microfinance institutions and self-help organizations in India are influencing other conventional banking institutions. It has made significant contributions to raising the standard of living for those in poverty.

Thus, microfinance is not a financial system but rather a weapon for eradicating poverty, bringing about social transformation, and, particularly, elevating the status of women in our nation so that they can become self-sufficient. Microfinance serves a public purpose, which qualifies it as a legitimate objective for social policy.
There are several microfinance companies in Karnataka and specifically microfinance companies in Bangalore that are providing extremely agreeable small loans to underprivileged households, particularly to women who are starting to seek their financial independence. These microfinance companies in Karnataka serve as the backbone for uplifting numerous communities in the state through their financial aid.

MICROFINANCE ORGANIZATIONS

The provision of leading microfinance companies in India is the main activity of these kinds of institutions. They provide loans using the idea of joint liability, which refers to a group of 10 to 15 people looking for loans either collectively or independently.
People are able to increase their existing prospects thanks to microfinance. The proliferation of low- income households’ incomes has been aided by the existence of microfinance institutions that provide funding for small enterprises. Microfinance solutions enable consumers to obtain loans when they most need it and increase credit availability. Banks rarely give customers small loans; MFIs that offer microloans fill this gap. By raising the amount of funds accessible to the poor, it enables capital growth. As a result, in addition to providing for these families’ basic needs, MFIs also give them credit so they can upgrade their homes, upgrade the community healthcare system, and pursue new business opportunities. The majority of microloans provided by MFIs go to women, which benefits the socially underprivileged. People without jobs and those with disabilities also profit from microfinance. These financial solutions assist people in strengthening their life by improving their current circumstances.

CONCLUSION

As is common knowledge, financial institutions play a crucial role in the growth of our economy. Microfinance has a significant impact on reducing poverty in societal structure. In India, several banks have started lending money to microfinance institutions. It promotes women’s empowerment, which is a significant step in the growth of the nation.

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[fusion_builder_container background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_aspect_ratio=”16:9″ video_mute=”yes” video_loop=”yes” fade=”no” border_style=”solid” padding_top=”120px” padding_bottom=”0″ hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” type=”flex”][fusion_builder_row][fusion_builder_column type=”1_6″ layout=”1_5″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”true” spacing_right=”2%” min_height=”” link=”” background_blend_mode=”overlay”][fusion_separator style_type=”none” /][/fusion_builder_column][fusion_builder_column type=”3_5″ layout=”3_5″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_right=”2%” spacing_left=”2%” min_height=”” link=”” background_blend_mode=”overlay”][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ before_text=”” rotation_text=”” highlight_text=”” after_text=”” title_link=”off” link_url=”” link_target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” content_align_medium=”” content_align_small=”” content_align=”left” size=”3″ animated_font_size=”” fusion_font_family_title_font=”” fusion_font_variant_title_font=”” font_size=”” line_height=”1″ letter_spacing=”” text_transform=”” text_color=”” hue=”” saturation=”” lightness=”” alpha=”” animated_text_color=”” text_shadow=”no” text_shadow_vertical=”” text_shadow_horizontal=”” text_shadow_blur=”0″ text_shadow_color=”” margin_top_medium=”” margin_right_medium=”” margin_bottom_medium=”” margin_left_medium=”” margin_top_small=”” margin_right_small=”” margin_bottom_small=”” margin_left_small=”” margin_top=”0px” margin_right=”” margin_bottom=”” margin_left=”” margin_top_mobile=”” margin_bottom_mobile=”” gradient_font=”no” gradient_start_color=”” gradient_end_color=”” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ highlight_color=”” style_type=”default” sep_color=”” link_color=”” link_hover_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]March 12, 2022[/fusion_title][fusion_separator style_type=”single solid” top_margin=”0″ bottom_margin=”30px” sep_color=”var(–awb-color4)” border_size=”3px” width=”200px” alignment=”left” /][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hue=”” saturation=”” lightness=”” alpha=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” margin_top=”” margin_right=”” margin_bottom=”” margin_left=”” fusion_font_family_text_font=”” fusion_font_variant_text_font=”” font_size=”” line_height=”” letter_spacing=”” text_transform=”none” text_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]Sachin Bansal led financial services company Navi Technologies filed the Draft Red Herring Prospectus to raise Rs 3,350 crore from the public markets with SEBI today.

The company, which started out as a lending business in 2018 and has a presence in insurance, asset management, and microfinance, will issue fresh equity shares as part of its IPO. The company will invest Rs 2,370 crore of the proceeds into its lending business, Navi Finserv Private Limited (NFPL) and Rs 1,500 crore in its insurance subsidiary, Navi General Insurance Limited (NGIL), it said in the DRHP.

Navi has appointed ICICI Securities, BofA Securities, Axis Capital, Credit Suisse Securities (India), and Edelweiss Financial Services as the book running lead managers for the public issue.

To Read More: https://yourstory.com/2022/03/key-takeaways-navis-drhp-raise-rs-3-350-cr-ipo/[/fusion_text][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” top_margin=”5″ alignment=”center” /][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” top_margin=”20″ alignment=”center” /][/fusion_builder_column][fusion_builder_column type=”1_5″ layout=”1_5″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_left=”2%” min_height=”” link=”” background_blend_mode=”overlay”][fusion_separator style_type=”none” /][/fusion_builder_column][fusion_builder_column type=”1_4″ layout=”1_5″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”true” spacing_left=”2%” min_height=”” link=”” background_blend_mode=”overlay”][fusion_separator style_type=”none” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_aspect_ratio=”16:9″ video_mute=”yes” video_loop=”yes” fade=”no” border_style=”solid” padding_top=”30px” padding_bottom=”150px” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” type=”flex”][fusion_builder_row][fusion_builder_column type=”1_5″ layout=”1_5″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”true” spacing_right=”2%” min_height=”” link=”” background_blend_mode=”overlay”][fusion_separator style_type=”none” /][/fusion_builder_column][fusion_builder_column type=”3_5″ layout=”3_5″ last=”false” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”true” spacing_right=”2%” spacing_left=”2%” min_height=”” link=”” background_blend_mode=”overlay”][fusion_sharing tagline=”Share This Post” icons_boxed_radius=”4px” /][/fusion_builder_column][fusion_builder_column type=”1_5″ layout=”1_5″ last=”true” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” border_position=”all” animation_speed=”0.1″ border_sizes_top=”0px” border_sizes_bottom=”0px” border_sizes_left=”0px” border_sizes_right=”0px” first=”false” spacing_left=”2%” min_height=”” link=”” background_blend_mode=”overlay”][fusion_separator style_type=”none” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

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June 02, 2021

[/fusion_title][fusion_separator style_type=”single solid” top_margin=”0″ bottom_margin=”30px” sep_color=”var(–awb-color4)” border_size=”3px” width=”200px” alignment=”left” /][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hue=”” saturation=”” lightness=”” alpha=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” margin_top=”” margin_right=”” margin_bottom=”” margin_left=”” fusion_font_family_text_font=”” fusion_font_variant_text_font=”” font_size=”” line_height=”” letter_spacing=”” text_transform=”none” text_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]

India Ratings, a Fitch Group entity, has assigned a credit rating of IND A (Stable) / IND A1 to the borrowing programme of Chaitanya India Fin Credit Private Limited (CIFCPL). Since Sachin Bansal’s Navi Group acquired Chaitanya in October 2019, the company’s credit rating has improved by 4 notches from BBB(minus).

Since being acquired by the Navi Group, Chaitanya has expanded its areas of operations to eight states at present, compared to predominantly three states two years ago, a press release issued by Navi said.

As a result of growing scale of operations, operational efficiency and strong liquidity profile, the company has reduced its own cost of financing in the last few quarters which has further enabled it to reduce lending rates for its borrowers. Chaitanya’s borrowing rates have dropped by almost 350-400 bps – reflective of the strong comfort lenders draw from the company’s credit profile and risk management practices, the release added.

The credit rating agency India Ratings & Research Limited noted in its report “After Sachin Bansal acquired the lending business in FY20, CIFCPL’s funding profile has improved considerably. CIFCPL’s lender base now comprises 25 lenders, which includes banks, non-banking finance companies and development financial institutions.”

Anand Rao, Joint MD, CIFCPL said, “We are delighted that India Ratings has assigned us a credit rating of IND A (Stable) / IND A1. This is a strong endorsement of our financial health, best-in-class risk management practices and our business model. It will inspire each of us at Chaitanya to work even harder towards our vision of meeting the full spectrum of financial service needs for the low and middle-income rural Indians.”

To Read More: https://www.livemint.com/companies/news/india-ratings-assigns-a-rtg-to-binny-bansal-s-navi-group-owned-chaitanya-india-11622616920715.html

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