New Delhi, February 22, 2018: Satin Creditcare Network Limited (“SCNL”), the second largest microfinance company in the country has been ranked 34th for Dream Companies to work in 2018 out of 50 companies felicitated by World Congress HRD in Mumbai recently. The company also bagged the award for the ‘Best Employment Engagement Project- “Satin Utsav”, the annual employee forum with 500 employees across functions and Geographies.
The prestigious award for ‘Dream Companies to work in 2018’ has been conferred to organizations, which excel in employee engagement, overall employee benefits provided and the happiness quotient of employees.
Acknowledging the Award, Mr. Subir Roy Chowdhury, Chief Human Resource officer, said, “We feel immensely proud to be conferred with this award which is in sync with our efforts towards employee engagement. Having been consistently positioned among the leaders in the field of HRD, we aim to continue raising the bar with more innovative and employee-centric measures in the future. I would also like to thank each member of the Satin family for their contribution and constant endeavor in making this a dream company to work for.”
Satin also procured the award under the category of ‘100 HR innovators’ which was conferred on Subir Roy Chowdhury (CHRO). Besides his feat, Mr. Ajay Sharma (VP HR) and Mr. Punit Sharma (Head HR – Taraashna services – group company of Satin) were also recognized under the ‘HR Achiever of the Year’ and Mr. Nikhil Mallah (AVP- HR) was also felicitated with ‘Young HR Professional of the year’ categories respectively.
About Satin Creditcare Network Limited
Satin Creditcare Network Limited (SCNL or “Satin”) was conceptualized and founded in 1990 by Mr. HP Singh - a qualified Chartered Accountant with over 25 years of experience in retail finance industry. In around 27 years since its inception, Satin today is India’s second largest MFI (as of Sep 2017) having started its journey with individual micro loans to urban shopkeepers. Today, the Company has an established, scalable and a sustainable business model. On a consolidated basis, Satin had an AUM of Rs. 4,493 Crores as on Sep 30, 2017. SCNL offers its clients a variety of loan products under the MFI segment. The company also offers a bouquet of financial products in the Non-MFI segment (comprising of loans to MSMEs), and business correspondent services & similar services to other financial Institutions through TSL, a business correspondent company and an 91.11% subsidiary of SCNL.
In April 2017, SCNL also incorporated a wholly owned housing finance subsidiary for providing loans to the affordable housing segment. This is a logical extension of Satin’s mission to provide financial products that cater to the underserved segments of the market. As of Sep 2017, SCNL had 680 branches covering 18 states and union territories while TSL (a subsidiary of SCNL) had 165 branches covering 8 states. At present, SCNL has its strong presence and serves its 2.6 million clients across the states of Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, and Haryana among others. The strong hold of TSL is Madhya Pradesh, Gujarat, Bihar, and Rajasthan.
Disclaimer
This document may contain certain forward looking statements within the meaning of applicable securities law and regulations. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. Many factors could cause the actual results, performances, or achievements of the Company to be materially different from any future results, performances, or achievements. Significant factors that could make a difference to the Company’s operations include domestic and international economic conditions, changes in government regulations, tax regime and other statutes. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company
Satin Creditcare Network Ltd.
CIN: L65991DL1990PLC041796
Corporate Office: 1st & 3rd Floor, Plot No. 97, Sector 44, Gurugram – 122 003
Landline No: +91 124 471 5400
E-mail ID: info@satincreditcare.com
Website: www.satincreditcare.com