Arohan Financial Services (P) Limited announces a lower lending rate of 21.20% for its flagship loan products, Saral and Bazaar with effect from January 16, 2017. This is a 102 bps cut from the present lending rate of 22.22% for Saral and 215 bps cut from the present lending rate of 23.35% for Bazaar, which were effective from November 20, 2017.
In line with the RBI in respect of Margin and Qualifying Assets Ratios, the back-to-back rate cuts have been made possible due to retained lender confidence and lower borrowing costs on the back of an A- credit rating by CARE with a stable outlook, and sufficient capitalization by existing and new investors in the entity.
The rate revision will benefit lakhs of new customers of Arohan, over 96% of which are women from socio-economically disadvantaged backgrounds across the Low Income States of Eastern, Central and North Eastern India. The revised pricing is second-best for any NBFC-MFI in the nine states that the company operates in viz Assam, Bihar, Chattisgarh, Jharkhand, Meghalaya, Odisha, Tripura, Uttar Pradesh and West Bengal.
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