KOLKATA, India, April 7, 2021 /PRNewswire/ — One of the leading NBFC-MFIs, Arohan Financial Services, recently received a semifinalist recognition at SKOCH Awards 2021 for Micro Credit, mera Arohan, Response to COVID and Corporate Governance segments.
On being in receipt of this recognition, Mr Manoj Nambiar, Managing Director, Arohan Financial Services Limited, stated, “In the past we have been awarded the SKOCH Order of Merit for qualifying amongst the top 100 projects in India for Financial Inclusion in 2016, SKOCH Order of Merit for IT Transformation, Mobility and CRM in 2017 amongst top 80 Technology Project in India and SKOCH Order of Merit in 2018 for qualifying amongst the top ranking banking and finance projects in India for financial Inclusion, micro credit and rural expansion. We continue to have a focus bringing easy access to micro credit and create a social impact and are humbled to be recognized as a semifinalist at the recent SKOCH awards.”
Additionally, he stated, “In FY 2020 we were also recognized as a Responsible Lender for adopting and adhering to the code for responsible lending in micro credit with a CRL score of 99%.”
Arohan Financial stands to be the most cost efficient amongst the East and North East based NBFC-MFIs and had a 0% NNPA ratio over the last 3 fiscals amongst the top 10 NBFC MFIs (Source: Industry Report on Microfinance Industry, Mumbai – February 2021, prepared by CRISIL Research, a division of CRISIL Limited). As of September 30, 2020 it served approximately 2.21 mn borrowers across 17 states.
Disclaimer: AROHAN FINANCIAL SERVICES LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed the DRHP with SEBI on February 14, 2021. The DRHP will be available on the website of SEBI at www.sebi.gov.in, website of stock exchanges i.e. NSE at www.nseindia.com, BSE at www.bseindia.com and the website of the BRLMs, i.e. Edelweiss Financial Services Limited, ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited at www.edelweissfin.com, www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html and www.sbicaps.com, respectively. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” section of the Red Herring Prospectus, when available. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. These materials are not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia).These materials are not an offer of securities for sale into the United States, Canada or Japan. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.