NEWS & ADVICE : PERSONAL LOAN
Intellecash Microfinance Network acquires Arohan Financial Services
By Vaibhav Aggarwal
Sep 18, 2012
Print    Email    RSS   

The Kolkata headquartered microfinance company (MFI), Arohan Financial Services has been acquired by Intellecash Microfinance Network Ltd, an arm of Intellecap Group of companies. According to Shubhankar Sengupta, the CEO of Arohan, the latter has taken majority stake in Arohan with an investment of about Rs. 16 crore.

It is reported that Arohan was set up in the year 2006 and has a considerable market share consisting of more than one lakh customers and has disbursed loans worth Rs. 40 crore.

Mr. Sengupta further said that the recent directives by Reserve Bank of India have given a proper structure and guidance to the microfinance industry. The regulations such as increased capital requirements, margin limits and increased provisioning have made it necessary for the MFIs to operate on a large scale.

The company (Arohan) also wants to expand its presence in more Indian states particularly the low income states like Assam, West Bengal, and Bihar etc. It wants to increase its assets portfolio to the tune of Rs. 100 crore by the end of the current financial year.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Glittering Ways of Investing in Gold
Consolidation good for creating healthier...
This is how a bank lends money
Need of Financial inclusion: making the...
Pay income tax through ATM


civil know your score pancard
Has any gottan a personal loan from st paul cathedral
how many installments i have to pay to clear my...
MY PAN CARD AEAPA6099R HOW TO CKECK PERSONNEL LOAN...
I want to know weather my name is listed in cibil...
HOW CAN I REMOVE MY NAME FROM CIVIL RECORD

NEWS THIS WEEK
UCO bank working with PAIC to finance green house project Jul 25, 2014
RBI laid new frame work to regulate banks Jul 23, 2014
SBI bank tied up with RML services LTD Jul 18, 2014
New Service for NRI by ICICI bank Jul 17, 2014
BOI expanded its customer base Jul 14, 2014
News Archive