{"id":17825,"date":"2020-01-02T18:43:07","date_gmt":"2020-01-02T18:43:07","guid":{"rendered":"http:\/\/faceinews.com\/?p=17825"},"modified":"2020-01-02T18:43:07","modified_gmt":"2020-01-02T18:43:07","slug":"asirvad-microfinance-crosses-rs-5000-crore-in-aum","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=17825","title":{"rendered":"Asirvad Microfinance crosses Rs 5,000 crore in AUM"},"content":{"rendered":"<p style=\"font-weight: 400;\"><strong>Asirvad\u00a0Microfinance\u00a0crosses Rs 5,000 crore in AUM<\/strong><\/p>\n<p style=\"font-weight: 400;\"><strong><a href=\"http:\/\/faceinews.com\/wp-content\/uploads\/2017\/11\/Faceinews-Logo-Copy.png\" rel=\"attachment wp-att-7654\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7654\" src=\"http:\/\/faceinews.com\/wp-content\/uploads\/2017\/11\/Faceinews-Logo-Copy.png\" alt=\"Faceinews Logo - Copy\" width=\"173\" height=\"43\" \/><\/a>\u00a0<\/strong><\/p>\n<p style=\"font-weight: 400;\"><strong>Chennai, January, 2019<\/strong>:\u00a0Asirvad Microfinance Limited, a subsidiary company of Manappuram Finance Limited, has achieved a significant milestone of Rs 5,000 crore in assets under management (AUM). In a statement released to the media,\u00a0<strong>Mr.\u00a0 Raja Vaidyanathan, Managing Director<\/strong>, said that \u201c<em>Asirvad has taken the route of multi-state business operations to achieve this milestone. The company is rated AA-\/Stable by CRISIL, the highest credit rating in the MFI sector\u201d.<\/em><\/p>\n<p style=\"font-weight: 400;\"><em>\u00a0<\/em><\/p>\n<p style=\"font-weight: 400;\">Mr. V. P. Nandakumar, Chairman of Asirvad, said, \u201cAsirvad has continuously improved its risk management practices by increased automation and digitization, in line with our objective to offer our services to clients at a competitive rate.\u201d<\/p>\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">Asirvad caters to over 21 lakh women members through its 1,037 strong branch network spread across 314 districts in 22 States. It has a well-diversified portfolio, with AUM exceeding INR 200 crore and more than 1 lakh members in 10 states. It has recently upgraded its entire operations through the e-onboarding process of clients at their doorstep. According to Mr. Vaidyanathan, after the up gradation, Asirvad aims to reduce the turn-around time to less than five days for its loan offering services. Further, the entire loan documentation process of the company is now digitized.<\/p>\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">Asirvad Microfinance was acquired by Manappuram Finance Limited in February 2015. At the time, the company\u2019s AUM was around Rs.300 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asirvad\u00a0Microfinance\u00a0crosses Rs 5,000 crore in AUM \u00a0 Chennai, January, 2019:\u00a0Asirvad Microfinance Limited, a subsidiary company of Manappuram Finance Limited, has achieved a significant milestone of Rs 5,000 crore in assets under management (AUM). In a statement released to the media,\u00a0Mr.\u00a0 Raja Vaidyanathan, Managing Director, said that \u201cAsirvad has taken the route of multi-state business operations [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-17825","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/17825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17825"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/17825\/revisions"}],"predecessor-version":[{"id":17826,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/17825\/revisions\/17826"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}