One of the leading NBFC-MFIs, Arohan Financial Services recently received 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 Ltd 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 Financialmicrocredit Inclusion, micro credit and rural expansion. We continue to have a focus on bringing easy access to microcredit 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 microcredit 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.