Arohan Financial Services Limited | Annual Report 2021-22

process, for example: a product that would shun firewood and help our customers move to either clean cook stoves or LPGs. The product design would allow our customers to benefit from the carbon credits being generated, reducing their obligation of interest on their loan, while also potentially generating residual value for her. Products like these, along with several other brilliant ideas, were the outcome of the deliberation, and that gives me the confidence that Arohan is deeply engaged in building a deep moat around its customer’s livelihood, safeguarding them from the impacts of challenging externalities, which additionally and hopefully would be the best risk management strategy any institution can adopt. Our hard work across various segments continue to result in awards and acknowledgement, and Arohan, having been recognized as the ‘Microfinance Company of the Year’ at the 3rd Annual BFSI Technology Excellence Awards Programme was a pleasant conclusion to the year. Our leadership, under Mr. Manoj Nambiar, continue to keep us proud while steering us towards an impactful, technologically forward-looking and responsible institution of the future. We can never close any address without being grateful to our investors, each one of whom have played an important role in shaping Arohan as the tall institution it is. I would conclude by thanking our borrowers, each one of the nearly 19 Lakh of these women who are the foundation of the socio-economic pyramid of the country, who inspire us with their commitment and dedication and whose strong shoulders support over 7,000 of our employees year after year - protecting their interest remains at the centre of our motto. With warm regards, Vineet Rai Founder and Chairman, Aavishkaar Group 13 Annual Report | 2021-2022 Promoter’s Address