New Delhi [India], October 29 (ANI/NewsVoir): SATYA MicroCapital Ltd. reached 6 lac active loan clients on its 5th year anniversary. With AUM of approx. 1700 Cr and having disbursed 10 Lac loans to its borrowers, the MFI has recorded remarkable growth since Day 1 of its inception. SATYA has played an integral role in socio-economically uplifting its clients, providing them opportunities for income growth and income generation; thereby bringing the economy back to normal.
The celebration witnessed several exciting activities with active participation from management, staff, and well-wishers within. The event was attended by dignitaries who have played an eminent role in SATYA's growth trajectory. The evening was celebrated with great enthusiasm across SATYA's network both physically and digitally, via virtual conference. All COVID-19 protocols were stringently followed during the celebrations.
Speaking during the event, the MD, CIO & CEO of SATYA, Mr. Vivek Tiwari extolled the board of directors and entire employee base for their unwavering dedication towards the growth of the organization over these past five years. He recounted the challenges that the company faced at the early stages of the business and how they were able to surmount them.
The company also announced its plans of organizing second edition of Vijayalakshmi Das Entrepreneurship Awards (VDEA) and Vihangam. VDEA is SATYA's homage to the 'Mother of Indian Microfinance Industry' - Late Vijayalakshmi Das. The event integrally recognizes the impeccable work done by women microentrepreneurs across the grass roots level. Vihangam, signifies a panoramic bird's eye-view, the special Annual Day Programme of SATYA MicroCapital. The event is usually spread out over several fun-filled days of festivities entailing various motivating speeches by the distinguished guests, the Board and the Leadership Team of SATYA; colorful and vibrant cultural presentations by the team members representing all the states; employee recognition programs.
On the memorable occasion of 5th Foundation Day, several CSR Activities were also executed with central theme of philanthropy and human welfare. Under the CSR initiative, a team in conjunction with SATYA Shakti Foundation (NPO under the flagship of SATYA MicroCapital) visited NGOs working for upliftment of orphan children, abandoned elderly people and distributed books, medicines, dry rations and other items of necessity.
In his speech during the celebration, Vivek said, "We are humbled and honored to celebrate 5 years in business growing alongside the communities we serve. Ever since we started way back in October 2016, we strived every single day to perform our best and keep our promise of 'Customers First', which has helped us rise to a position of trust today - while earning the love and respect of the customers, employees, investors and peers from the BFSI Sector. The hard work and commitment of the entire SATYA Team for achieving this coveted milestone is laudable. The past is what built us, and the future is what drives us. When I look back onto the journey since Day 1 of our foundation, I feel nostalgic. I feel dignified of our legacy in elevating the on-ground life standard of the marginalized section of the population. This path of prosperity will continue, and nothing could deter our diligence."
Established in year 2016, the success of RBI registered NBFC-MFI has fostered an ecosystem for the growth of microfinance industry within India. It has also significantly generated economic opportunities for more than 6 lac microentrepreneurs by providing loans of worth approx. 3850Cr thereby serving as an impetus for inclusive growth and development at the grass-root level. With a deep-rooted presence through a terrestrial operational network of over 275 branches in 25000 villages across 21 states, SATYA is fostering financial inclusion in even in the most remote parts of the country. It offers collateral-free customer-focused credit solutions to females primarily working towards establishing their own microenterprises. Envisioning its future course of action, SATYA aims to act as a catalyst for the socio-economic upliftment of 5 million households by the year 2025.
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