Satin Creditcare Network Ltd Company Profile : Products,Promoters and Clients

Satin Creditcare Network Ltd Company

Satin Creditcare Network Ltd, a major Indian Microfinance Institution based in Gurugram, operates primarily in North India, focusing on collateral-free microcredit for economically active women in rural and semi urban areas. It offers a range of financial products for both MFI and Non-MFI segments through subsidiaries SHFL and SFL. With a presence in 24 states/Union Territories and 96,000 villages, SCNL emphasizes social collateral and employs the joint liability group model. Additionally, it offers MSME loans, affordable housing loans, and business correspondent services through its subsidiaries.

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Q1. What are the Product and service offerings of Satin Creditcare Network Ltd?

1. Microfinance Loans

• Income Generation Loans: These loans are allocated to rural and semi-urban women to enable them to undertake small-scale businesses, such as tailoring, farming, or retailing.
• Individual Micro Credit: Offered to individuals for entrepreneurship, such loans enable beneficiaries to engage in petty business and self-employment.

2. MSME Loans

• They gives out loans to Micro, Small and Medium Enterprises (MSMEs) to facilitate the growth and expansion of micro-enterprises. The loans are offered to both established and potential business persons, enabling them to meet working capital expenses or make investments to set up the business.

3. Product Financing: Loans are given out for the acquisition of particular items, such as:

• Solar lamps
• Water purifiers
• Sanitary napkin makers

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4. Housing Loans: SCNL gives out low-interest housing loans to customers living in rural and semi-urban areas for:

• Setting up new houses
• Repair and extension of old houses
• Provision of basic needs like toilets and water taps

5. Financial Inclusion Services. tHe company has been instrumental in enhancing financial inclusion through:

• Credit Education Programs: These provide borrowers with information and education relating to borrowing responsibly and financial literacy.
• Access to Banking: Helping customers who have been previously unbanked to access formal banking systems.

6. Water, Sanitation and Hygiene (WASH) Loans: Loans are offered to uplift some basic hygiene and sanitation facilities. Some of them are:

• Construction of toilets
• Setting up the systems for the provision of clean drinking water
• Encouragement of general health and hygiene in the community

7. Agricultural and Allied Loans: Such loans are mainly agriculture-based. Such include:

• Seed and fertilizer purchase
• Purchase of farming tools and implements
• Animal husbandry and dairy farming

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8. Social Impact Initiatives:

• Apart from the provision of funds, Make in India has other social enabling factors, which include:
• Supporting women in business through providing access to finance

9- Supporting in-country projects

• Creation of awareness in health, education and sustainability issues

10- Customer Service Offerings

• Doorstep Services: Loan Officers go to the client's house or workplaces to assist and make it easy for the clients who have borrowed money to pay back.
• Digital payments: Secures the ability to repay loans more conveniently by electronic means.
• Personalized loan structuring: Individual payment plans are established in line with the borrower's ability.

Q2. Who are the Promoters of Satin Creditcare Network Ltd?

Mr. H P Singh (Chairman and MD): Possesses over thirty years of microfinance expertise, credited with introducing the innovative practice of daily loan repayment collections. A law graduate and Fellow of The Institute of Chartered Accountants of India since 1984, he has steered SCNL into becoming a prominent microfinance institution nationally, catering to millions of rural households with a variety of financial products, including microfinance, MSME, and affordable housing loans. 

Rakesh Sachdeva (Chief Financial Officer): He brings over 30 years of extensive experience spanning Finance Management, Business Operations, Human Resources, Project Management, Strategic Alliances, and Contract Management. He served as a Board member of Satin Creditcare Network Limited from April 1999 to November 2020, contributing to various committees, including the Audit Committee, as both Chairman and Member.

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Bhuvnesh Khanna (CEO of Satin Finserv Limited): Graduated from St. Xavier's College, Kolkata, and obtained his Chartered Accountant degree in the 1994 batch. Throughout his career, Mr. Khanna has had the privilege of working with top banking brands, including Kotak Mahindra, HDFC Bank, Deutsche Bank, and HSBC. His recent tenure at HSBC encompassed pivotal roles across various markets such as India, Hong Kong, Shanghai, Bangladesh, and London, offering him extensive exposure to national, regional, and global leadership positions with P&L responsibilities. 

Aditi Singh (Head of Strategy): She boasts over 14 years of experience in the financial services sector. She previously led M&A projects at CG Corp Global across various regions and held roles at UV Capital Pvt. Ltd. and IFCI Venture Capital Funds. Aditi holds a gold medal in Economics (Hons.) from Banasthali Vidyapith and completed her post-graduation in Business Finance Management from the Indian Institute of Finance, Delhi

Q3. Who are the Clients of Satin Creditcare Network Ltd? 

1- Diversified Geographical Presence

The company serves clients across a vast geographical area, ensuring extensive reach and accessibility:

• Top 4 States: Uttar Pradesh, Bihar, West Bengal, and Madhya Pradesh, collectively contributing 56% of our client base.
• Next 6 States: Account for 28% of our client base.
• Remaining 16 States/UTs: Contribute the remaining 16%.
• Regional Offices: 29
• Centers: 95
• Branches: 1,393

2- Client Distribution

Their client distribution is widespread, with minimal exposure in any single district:

• Districts with <1% Exposure: 96.4%

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