Satin Creditcare Network Limited

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Summary[edit]

Satin Creditcare Network Limited
NBFC
Traded as
ISININE180K01011
IndustryFinance
Founded1998
HeadquartersGurugram, India
Area served
India
Key people
HP Singh

Satin Creditcare Network Limited is a non-banking finance company (NBFC), licensed by the Reserve Bank of India. It was founded in 1990 by Mr. HP Singh.[1] The company's offers financial requirements for excluded households at the bottom of the pyramid. Satin Creditcare Network Limited is a micro-finance institution (MFI) in the country with presence in 23 states and around 72,000 villages.

History[edit]

The company launched its operations as a provider of individual and small business loans and savings services to urban lenders in 1990, going on to be registered as an NBFC with the RBI in 1998 and converting into an NBFC-MFI in November 2013. Founded by HP Singh who has over three decades of micro-finance experience.

In 2017, company incorporated a wholly owned Housing Finance subsidiary with the aim of providing financing in the affordable housing segment and leveraging rural outreach[2][3]. In January 2019, company received separate NBFC license to commence MSME business "Satin Finserv Limited"[4]. SATIN forayed in digital lending “Loan Dost”.

As of Dec 2018, SCNL had 1,118 branches and a headcount of 11,940 across 23 states and union territories serving 35 lakh clients[5]. Satin Creditcare maintains a focus on rural and semi-urban areas.

References[edit]

  1. ^ "SATIN Share Price - 328.20 INR, Satin Creditcare Network stock price today, Live updates". The Economic Times. Retrieved 16 March 2019.
  2. ^ Marya, Ritu (2018-06-25). "This Microfinance Institution Wants to Help Rural Indian Women to Fulfill their Dreams of Entrepreneurship". Entrepreneur. Retrieved 2019-03-26.
  3. ^ "Satin Creditcare to focus on rural space for housing portfolio". cnbctv18.com. Retrieved 2019-03-26.
  4. ^ Roy, Shobha. "Satin Creditcare to create separate subsidiary for SME business: CMD". @businessline. Retrieved 2019-03-26.
  5. ^ "At A Glance – SATIN CREDITCARE NETWORK LTD". Retrieved 2019-03-26.