SATYA MicroCapital Starts Loan Disbursement under PM SVANidhi Scheme

·3-min read

New Delhi, Delhi, India (NewsVoir) On the account of Company’s Fourth Foundation Day Celebration; SATYA MicroCapital Limited, one of the fastest-growing NBFC – MFIs in the country, announced that it has started the process of loan disbursements under the PM SVANidhi Scheme. The event was graced by the virtual presence of SATYA’s employees. Amid the nostalgic celebrations, the company also launched a series of customer as well as employee-oriented pilot initiatives intended for their all-round development and upliftment of life state.

Contributing to transforming the dream of Atma Nirbhar Bharat into reality and providing affordable working loan to Street Vendors, SATYA initiated its active participation in PM SVANidhi Scheme at Varanasi (Uttar Pradesh), with plans of moving ahead to various other states as well going forward. To protect the business establishments of the beneficiaries of these loans from harsh weather conditions, the company is also providing a free of cost umbrella to them.

As per the mandate guidelines of the scheme issued by the Government, the loan of ₹ 10,000 was disbursed to eligible applicants. The entire procedure of processing and sanctioning of the loan was cashless and hassle-free. The beneficiaries of this loan were imparted detailed information about this Scheme by company officials. This not only promoted the value of credit discipline in them but also instilled the importance of digital transactions and good repayment behaviour.

Sharing his views, Vivek Tiwari, MD, CEO and CIO – SATYA MicroCapital said, “It is our foremost right to serve the humanity before anything else. We at SATYA have always prioritised the wellbeing of our customers. It is imperative for us to support our clients in reviving from the crisis borne by the grappling COVID-19. We have always worked best in our capacities towards the socio-economic upliftment of people living at the bottom of the pyramid and facilitating financial stability. SATYA is elated to be a part of this scheme launched by the government for the welfare of the people and businesses most affected by the ongoing epidemic.' Amidst the challenging times when nationwide lockdown came into effect, SATYA MicroCapital came to forefront and launched SATYA RASOI #MealForMigrants. During this food distribution campaign, SATYA, through its 40+ Rasois, provided fresh meals to mass exodus of more than 3,80,000+ migrants and their family members. Owing to the containment of COVID-19 outbreak, company also launched a free of cost Digital OPD Service for facilitating 24x7 medical consultation services to its 4.5 Lacs+ client base, 2000+ employees and their family members accounting to approximately 25 Lac+ people across the nation.

With commitment towards its corporate social roles; focus on Nasha Mukt Samaaj, Gender Equality, Swachh Bharat and Digital India, SATYA MicroCapital, since its establishment in January 2017, has been continuously developing and evolving its loan products and financial services for the comprehensive growth of the underbanked and underserved segment. The MFI is fundamentally promoting micro-entrepreneurship values in the rural markets which further enables people to generate employment and livelihood opportunities. Along with educating its clients about financial inclusion, digital banking, saving options, and government schemes, the company is earnestly imbibing a new dimension in the Indian microlending space. Within a short span of its inception, SATYA has expanded its operational network across 22 states, through an extensive channel of 180+ Branches and looks forward to maximizing its reach henceforth.

Image: Satya MicroCapital distributing loans.

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