Satin Creditcare Network announced that Reserve Bank of India has granted “Certificate of Registration [Registration No. N-14.03461] dated January 09, 2019” under section 45 IA of the Reserve Bank of India Act, 1934, to commence the business as a “Non-Banking Finance Company”, to Satin Finserv which is a Wholly Owned Subsidiary of Satin CreditcareNetwork.

Powered by Capital Market - Live News

Satin Creditcare Network announced that Suramya Gupta, (DIN: 06816354), Nominee Director of SBI FMO Emerging Asia Financial Sector Fund has resigned from the office of Director with effect from 07 January 2019 due to some other pre occupations.

Powered by Capital Market - Live News

Satin Creditcare Network has assigned three pools of receivables of an aggregate value of Rs. 755 crore to banks on a Direct Assignment basis as per the guidelines prescribed by the Reserve Bank of India.

Till date four Direct Assignment transactions have been concluded in FY19. With these transactions, the Company has completed Direct Assignment transactions worth Rs. 975 crore in FY 19. The fund raised will be used for further growth in Asset under Management (AUM) of the Company.

Powered by Capital Market - Live News

Satin Creditcare Network raised US$ 30 mn Non-convertible debentures (NCD) from the Netherlands Development Finance Company (FMO) to accelerate its microfinance lending portfolio.

The investment will support Satin Creditcare in its planned expansion and portfolio growth, and its efforts in increasing financial inclusion, through its operations in more than 20 states. Satin creditcare has recently forayedin digital lending “Loan Dost” for its urban borrowers to enhance the business portfolio.

Powered by Capital Market - Live News