The Reserve Bank of India (RBI)-registered Non-Banking Financial Company – Micro-Finance Institution (NBFC-MFI) Satya MicroCapital has secured Rs 500 crore from Japan-based Sumitomo Mitsui Banking Corporation (SMBC) for the second time, a statement from the company said.
It also said that the new infusion of debt will drive further advancements in Satya’s operational model, fostering innovation in credit offerings, expanding the product portfolio and enhancing end-to-end business processes for its valued clients. This funding will also support efforts to boost financial inclusion for women micro-entrepreneurs and promote women’s empowerment through microfinance.
Vivek Tiwari, Managing Director (MD) and Chief Executive Officer (CEO), Satya MicroCapital, stated in the statement, “Our continued partnership with SMBC is a key driver and inspiration for Satya’s ongoing mission to enhance financial inclusion and empower women entrepreneurs throughout India. The trust SMBC has placed in our business model will be central to our expansion efforts. As Satya’s business model gains traction globally, we remain committed to create a sustainable impact and a brighter future for numerous households at the bottom of the pyramid.”
With the foremost and fundamental goal of empowering rural women, both digitally and financially, Satya has established its terrestrial footprints via an operational network of over 650 branches in around 55,000 villages across 25 states, the statement noted.
