Satin Creditcare Network Limited: Difference between revisions

 

| name     = '''Satin Creditcare Network Limited''' |

| traded_as         = {{unbulleted list |{{BSE|539404}} |{{NSE|SATIN}}}}

|website       = {{URL|http://www.satincreditcare.com/}}

'''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. H P Singh.<ref>{{cite web |title=SATIN Share Price - 328.20 INR, Satin Creditcare Network stock price today, Live updates |work=The Economic Times |url=https://economictimes.indiatimes.com/satin-creditcare-network-ltd/stocks/companyid-5590.cms |accessdate=16 March 2019}}</ref> 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 22 states and more than 82,000 villages.

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]]-[[Microfinance institution|MFI]] in November 2013. Founded by HP Singh who has over three decades of micro-finance experience.{{citation needed|date=February 2020}}

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.<ref>{{Cite web|url=https://www.entrepreneur.com/article/315653|title=This Microfinance Institution Wants to Help Rural Indian Women to Fulfill their Dreams of Entrepreneurship|last=Marya|first=Ritu|date=2018-06-25|website=Entrepreneur|language=en|access-date=2019-03-26}}</ref><ref>{{Cite web|url=https://www.cnbctv18.com/videos/finance/satin-creditcare-to-focus-on-rural-space-for-housing-portfolio-518041.htm|title=Satin Creditcare to focus on rural space for housing portfolio|website=cnbctv18.com|language=en-US|access-date=2019-03-26}}</ref> In January 2019, company received separate NBFC license to commence MSME business "Satin Finserv Limited".<ref>{{Cite web|url=https://www.thehindubusinessline.com/money-and-banking/satin-creditcare-to-create-separate-subsidiary-for-sme-business-cmd/article25843368.ece|title=Satin Creditcare to create separate subsidiary for SME business: CMD|last=Roy|first=Shobha|website=@businessline|language=en|access-date=2019-03-26}}</ref> SATIN forayed in digital lending "Loan Dost".

As of March 2019, SCNL had 1,168 branches and a headcount of 11,940 across 22 states and union territories serving 35 lakh clients.<ref>{{Cite web|url=https://satincreditcare.com/at-a-glance/|title=At A Glance – SATIN CREDITCARE NETWORK LTD.|language=en-US|access-date=2019-03-26}}</ref> Satin Creditcare maintains a focus on rural and semi-urban areas.

SATIN reached the US$1-Billion Asset Under Management mark at the close of FY2018–19.{{citation needed|date=February 2020}}

Incorporated on April 17, 2017, as a wholly owned subsidiary company of Satin Creditcare Network Limited, Satin Housing Finance Limited has a registered office in [[New Delhi]]. Satin Housing Finance Limited provides long-term finance for the purchase, construction, extension and repair of houses for the retail segment, along with loans against a residential property, commercial property and plots.<ref>{{Cite web|url=https://www.cnbctv18.com/videos/finance/satin-creditcare-to-focus-on-rural-space-for-housing-portfolio-518041.htm|title=Satin Creditcare to focus on rural space for housing portfolio|website=cnbctv18.com|language=en-US|access-date=2019-04-24}}</ref>