Season's Greetings,

Let me start by wishing Seasons Greetings to you and your families, as well as,for the long and vibrant festive season which begins in India this month.

Arohan completed an eventful half year ending September'18 with many business highlights, we serve over 1.4 million end clients with a portfolio outstanding of close to INR 2800 Cr through 564 branches, manned by over 4100 employees and a presence in 12 states. We opened our 1st all women staffed branch in Lumding, Guwahati followed by the 2nd in Deragaon, Jorhat. In a business where over 96% of its customer base comprises of women and less than 10% female employees, this is a significant step towards a BIG change. We got certified by the UNFCCC for "Excellence in Clean Energy Finance" which is a testimony to our endeavours of onboarding our customers on to a clean energy product platform. The award recognises our contribution to curbing tonnes of CO2 emissions with our facilitation of loans for solar lamps, bicycles and water purifiers to our end clients.

Our focus on making Arohan one of the most IT-enabled NBFC MFIs continues, we have synced all the field officer tabs directly to our Profile CBS platform eliminating the data entry stage thereby freeing up the capacity of the Central Hub to act as a quality controller. Today over 90% of our new disbursements are cashless and directly reaches the bank account of our customers. The Phase 1 of our new HR software Adrenalin has been launched and implemented with features that will help the organisation go a long way in managing thousands of employees across locations.

Our microfinance business has launched 3 new products (Vriddhi, Plus+ and Retention) with an intention to address the needs of the clients better and ensure a high level of retention of good, quality customers on our books. Our unique MSME lending MCA/ACH business has crossed INR 110Cr portfolio outstanding and now operates out of Mumbai, Pune, Kolkata, Lucknow and Bangalore.

Our Capital raise exercise will see an internal raise by mid November 18 allowing us to review the way forward. The strengthening of our net worth and our half yearly financials will, hopefully, see an improvement in our current credit rating of A- (Positive outlook).

While global headwinds in the form of rising crude prices and a strengthening US dollar impact our economy and markets, India seems to be better placed with strong fundamentals to brace this period. While some domestic developments have seen the mood, and liquidity for NBFCs tighten, I am sure the positive ALM that microfinance entities work with, the PSL advantage, the low leverage, the strong, resilient and proven asset class will finally be the defining the difference in continuing liquidity to one of the most critical priorities for the country: Financial Inclusion to all, especially the underserved.

I wish to thank you for the good wishes and support that you have extended to Arohan and look forward to more in the future.

Warm RegardsManoj Kumar Nambiar, Managing Director

Customer Profile

Arohan releases its Annual Report, 2017-18

On August 3, 2018, eminent Board Members of Arohan led by the Chairman Mr. D.K Mittal released the Arohan Annual Report for the year 2017-18. Based on the theme 'Edging up the horizon', the report describes Arohan's journey and achievements in the last financial year, as it plays its role of an enabler helping the underserved and the financially excluded to rise above their limitations. Expressing his views on the Annual Report, Mr. Manoj Nambiar, Managing Director said, "The Arohan Annual Report for 2017/18 is the second theme based release from our side. I am delighted that the theme resonates with the progress and ascent of Arohan on the MFI landscape with the hard work of all our employees."

Arohan awarded with MicroEnergy Credits' "Excellence in Clean Energy Finance"

Arohan has been awarded the Excellence in Clean Energy Finance" certificate by UNFCCC. A project participant in the UNFCCC Program of Activities 9181, “MicroEnergy Credits – Microfinance for Clean Energy Product Lines – India”, Arohan was certified for its distribution of clean energy products such as Solar Lamp, Bicycle, Water purifiers and impacting the lives of over 2.2 lakh people. Microenergy Credits estimates that Arohan has the potential to generate 8,300 tCO2 UNFCC certified emission reductions (CERs) by the end of the year 2019.


Expressing his views on the certification, Mr. Manoj Nambiar, Managing Director said, “The Aavishkaar-Intellecap group seeks to contribute to the society while developing the communities it operates in. Aligned to this philosophy, Arohan endeavours to induct its customers on to the clean energy product platform and impact their lives. It feels wonderful to be recognised for our efforts and I am sure we will keep adding value to the effect.”

“This is a great honour for Arohan, as it joins the club of ‘green’ institutions. By partnering with MicroCredits and the UN, we are quantifying our contribution to the sustainability of our environment, and also strengthening our commitment to continue to work with environmentally friendly products, while fulfilling our customers’ needs,” said Ms. Shraddha Srimal, who Heads the New Products and Alliance Businesses.


Arohan goes live with ‘ADRENALIN’ HR Management System

On September 14, 2018, Arohan announced a significant HR Management System upgrade with the “go live” of ‘ADRENALIN’, a state-of-the-art employee management platform. The launch was effected by Mr. Manoj Kumar Nambiar, MD, Arohan, Mr. Prashant, Head of HR, Admin and CSR, Mr. Arvind Murarka, VP, IT and Mr. Anirudh Bhaduri from Adrenalin.

“It is a momentous day for Arohan, as we put in place the 8th pillar of our IT infrastructure with the launch of a best-in-class HR Management system. It will further strengthen our position as one of the most IT-enabled NBFC-MFIs in the country. This upgrade opens doors of opportunities for the organisation as it enables the employees to manage their work-cycle better”, said Mr. Manoj Nambiar addressing the employees on the occasion.

“With each and every phase launch of this system, our processes with become smoother. Starting from attendance management, to PMS, employee networking and geo-tagging, this platform has a lot to offer,” said Mr Arvind Murarka, VP, IT.

"The Adrenalin software will make us future-ready to manage our growth. Its features of self service will help employees resolve their query faster and increase customer satisfaction, which will definitely contribute in getting Arohan in the great place to work space," said Mr. Prashant Rai, who as Head of HR, led the process.

Over the last couple of years, Arohan has underlined the importance of being a technology enabled organisation and has taken significant strides to incorporate an IT led infrastructure at various levels.


Arohan to raise INR 350 Cr from existing investors – a Mint coverage

On September 10, 2018, the Mint featured Arohan, part of the Aavishkaar-Intellecap Group in a significant article that talks about Arohan’s intent to raise INR 350 Cr from its existing investors.

Over a freewheeling chat with the journalist, Mr. Manoj Kumar Nambiar, MD, Arohan, spoke about Arohan’s future fund-raising plans from promoters Aavishkaar-Intellecap and others by October-end to expand its operations in the 10 low-income states of the country especially in the East, Central and North East India.

Arohan’s MSME Lending Business - IntelleCash achieves INR 100 Cr portfolio


Arohan is happy to announce that its MSME Lending Business - IntelleCash has crossed a landmark INR 100 Cr portfolio. The celebrations were marked with a small cake cutting ceremony at the Mumbai office on September 7, 2018.

Speaking of the achievement, Mr. Manoj Kumar Nambiar, MD, Arohan said, “Its a momentous day for the company to report this significant achievement in IntelleCash - the MSME lending business. Operations of IntelleCash was formally merged into Arohan in March 2018, optimising Arohan’s non-qualifying assets space. With streamlined focus, I am sure this business will see greater heights in a much lesser time.”

“It is indeed a great pleasure to be able to celebrate this significant milestone of reaching an INR 100 Cr book size from being operational in five locations of Mumbai, Kolkata, Pune, Lucknow and Bangalore. Kudos to the entire team of IntelleCash for steering clear of all challenges and for reaching this coveted milestone, and special thanks to the esteemed members of the Board and committee for their constant support and guidance,” said Mr. Shailesh Kumar, Head, MSME Lending Business.

IntelleCash tries to bridge the gap in the working capital demand of MSME clients through POS enabled MCA advance, and through BIL products to both, manufacturing, as well as, services sector. With this offering, Arohan seeks to optimise the non-qualifying asset space, diversify its offering and client segments and penetrate deeper into its focus states.


NDTV network interaction with Mr Manoj Nambiar on ‘The Quest for Digital Banking’

In an interaction on digital lending across businesses with Mr. Nikhil Inamdar of the NDTV network, Mr. Manoj Nambiar, Managing Director, Arohan Financial Services Limited speaks about financial inclusion in India as the country moves towards digitalization. The documentary was aired exclusively on NDTV 24x7 and NDTV Prime on August 18 and 19, 2018.

Free Press Journal exclusive with Mr. Manoj Nambiar

In an exclusive interaction with Free Press Journal, Mr. Manoj Nambiar, Managing Director, Arohan Financial Services Limited talks about Arohan going beyond credit to focus on financial inclusion. “Going beyond financial requirements, we try to cater to certain core needs of our customers. We believe that such an offering would deepen our relationship and make it stronger and multi-dimensional,” opines Mr. Nambiar.
In the interview he goes on to showcase the group’s perspective and Arohan’s alignment to it in terms of going beyond credit to focus on financial inclusion. He maintains that be it bank accounts, pension accounts, insurance needs, remittances, even investments, Arohan tries to play a part.


Enabling financial inclusion on a digital platform – an article by Manoj Nambiar and Arvind Murarka in CIO Insider

Mr. Manoj Kumar Nambiar, Managing Director, and Mr. Arvind Murarka, VP and Head IT, Arohan Financial Services Limited write about enabling financial inclusion on a digital platform for CIO Insider magazine.
In the article they talk about technology, innovation and knowledge becoming the key drivers of growth for the microfinance industry today. “Emerging technologies have the potential to revolutionize the customer experience, especially at the ‘last mile’ by providing greater levels of personalized service and greatly improving the back-office efficiencies at financial institutions, thus playing one of the most significant roles in the objective of financial inclusion,” quotes the article.


Arohan participates in a Seminar on Risk Management and Consumer Protection

In the month of June 2018, Mr. Manoj Kumar Nambiar, MD, represented Arohan at a Seminar on Risk Management and Consumer Protection organised by Asian Development Bank and Northern Arc Capital in Mumbai.


Talk on Social Innovation and Financial Inclusion, at IIMC

On August 31, 2018, Ms. Shraddha Srimal, AVP, New Products and Alliance Business, delivered a talk at the CEMS Block Seminar at IIM, Calcutta.
Conducted for a group of exchange students from across the globe, the session was based on social innovation and financial inclusion.


Arohan partners with ‘GOING TO SCHOOL FUND’


Arohan, through its CSR department, announced its association with Going to School Fund (GTS), a creative not-for-profit organisation which empowers children with entrepreneurial skills at school.
Over the last month almost 1200 kids from Bihar sent in their application with projects which would benefit their schools and their communities. These projects address issues of water and sanitation, lack of educational tools, environment and promotion of education which plagues the communities we operate in. Arohan and Aavishkaar together will fund almost 100 of the most sustainable projects which would then be implemented by the children.


Flood relief provided to customers

July 2018 saw devastating floods across parts of Tripura and Assam affecting the lives of hundreds of people. Committed to extend support to its customers, Arohan’s Regional team from RO Agartala identified the worst affected branches in the region where more than 1000 customers spread across Lala, Ambassa, Patharkandi, Hailakandi, Kumarghat and Katlicherra branches received assistance in the form of emergency food rations.
Under the leadership of ZBH Mr. Anirban Sinha and RH Mr. Abul Faruki, the regional team worked hard to ensure the customers received the assistance in timely and organised manner. The initiative was executed by the respective Area Managers, Branch Heads and CSRs.


Sunita and Subhash Jaiswal - Sunita began her journey with Arohan with a loan amount of INR 20,000 to help her husband Subhash set up a small medicine shop next to her home in Unchahar, Lucknow. Together, they gradually developed the shop and grew with a helping hand from Arohan. Availing the easy EMI facility of its cross-sell services, Subhash bought a refrigerator from Arohan’s e-Bazaar platform. This would help him in capacitating his shop with more medicines that requires storage in refrigerators. “I am thankful to Arohan for their services that has helped us in establishing our shop. It feels comforting to know that we have their support” says Subhash.

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