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
Loan against Securities: A viable...
Guidelines to apply for NRI Personal Loans
A chronicle of excesses by loan recovery...
Carnival of Indian Personal Finance Blogs #1
Effect of employment on loan eligibility...


All types}{SsK}{ problem like +919636529917))((molvi JI
kala jadoo @@ the most +919636529917 specialist...
( vashikaran) in india (yaha.No.1) molvi ji...
My in Hand Salary is 15k i want a loan of 50000rs...
Chandigarh,Shimla Escort service 08505800248 call...
DuDe @~09780560514~@ Call GiRl In ludhiana EsCoRts...

NEWS THIS WEEK
Allahabad bank’s profit dropped down Oct 31, 2014
Post offices an important part of financial inclusion Oct 30, 2014
Tamilnad bank urged to increase the retirement age of employees Oct 29, 2014
Partial practice of bank for charging customers at non home branches Oct 28, 2014
SBH bank introduced campaign to help MSME Oct 27, 2014
News Archive