Asirvad Microfinance Limited said it has reached Rs 3,000 crore micro-finance Assets under Management (AUM).
As per the statement of managing director of the firm, Raja Vaidyanathan, ‘Asirvad has been achieving an incremental Rs 100 crore AUM for past five months consistently and poised to reach Rs 3,500 crore AUM by end of financial year. He further said, Manappuram Finance is infusing Rs 150 crore into the company to aid further expansion of portfolio.’ The company has been rated as A+ positive outlook by CRISIL and A+ rating by CARE.
Asirvad caters to 1.6 million women members through 930 branch network across 22 States pan India. Out of the branch network, 80 new branches were opened during the financial year. It has 4,300+ staff working in field offices and another 400+ working in administrative locations.