31 | Annual Report | 2024-2025 The microfinance industry in India has long stood as a beacon of inclusive growth, working tirelessly to extend formal financial services to millions across underserved and unbanked regions. FY 2025 was marked by a challenging macroeconomic environment - characterised by regional disruptions, rising operational costs, and evolving borrower needs. Despite these trials, the industry demonstrated remarkable resilience. This strength was not forged in isolation, but through the unwavering commitment and coordination of a robust ecosystem of stakeholders. Self-regulatory organisations (SROs), and the Reserve Bank of India provided clear and consistent guidance, helping institutions navigate regulatory expectations while maintaining the principles of responsible lending. At the same time, investors - both domestic and international - reaffirmed their confidence in the sector by continuing to channel capital toward impactful financial inclusion efforts. Arohan, aligned with this broader ecosystem, has remained steadfast in its purpose: to provide ethical, sustainable, and borrower-centric financial services. Guided by the principle of “responsibility with scale,” Arohan continues to ensure that each loan disbursed contributes meaningfully to the borrower’s progress and financial well-being. OF THE PEOPLE Shaping a Safe and Inclusive Microfinance Ecosystem in India
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