The FY 2023-2024 can undoubtedly be said a better year for Sarala as the AUM of the Company has shown an upward trend and has increased by 24.02% to INR 1835 Milln by March 31, 2024. The Company continued diversifying its lender base in FY 2024 and to borrow from various lenders including Banks, NBFCs, etc. Some prominent lender relationships were that with IDBI Bank, ESAF Small Finance Bank, Federal Bank etc. During the current financial year, adhering to the regulatory guidelines, the Company has moved ahead towards Dematerialization of its shares held by private investors.

The Company during the Financial Year 2022-2023 has progressed in its digitalization initiative. The Company has entered new business relationship with Innfoin Solution Pvt. Ltd. (LenDen Club) a Peer to peer Lending Organization and a RBI regulated NBFC. Further, the Company has revised its major policies and processes to comply and follow in true letter and spirit the RBI’s Master Direction – Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022.

Sarala continued to steadfastly tread on its roadmap to digitalisation. While being cashless in its disbursement process, Sarala is also steadily tuning its customers onto a cashless repayment structure providing various online transaction platforms. Also, Sarala entered into agreement with FINO Payment Bank and Spice Money as Cash Collection Agents for easy and safe collection and deposit of money. Penny Drop arrangement has been done for authenticating every borrower’s Bank Accounts before disbursement.

Your Company mapped customers’ needs for financial inclusion and built a technology stack that allows our customers to experience a digital journey that seamlessly generate electronic loan applications, digital KYC (Know Your Customer) verification, digital loan approval process and credit of the loan amount into the customer’s bank account.

Sarala has earned the reputation of one of the most trusted MFI in Eastern India with track record of almost 15 years. Its strong presence in 5 States (Bihar, West Bengal, Jharkhand, Sikkim and Assam) serving 167,490 families with Gross Loan Portfolio of INR 2593 Million

Right Issue Allotment and promotion of ‘Clean Energy Products’ among 100,000 plus poor families in rural India’;

Name Change approved by the Reserve Bank of India reaching 100,000 women clients with above INR 1,000 Million loan book in three states; Demonetization year;

Name Change completion from Unnati Trade & Fincon Private Limited to Sarala Development & Microfinance Private Limited with Registrar of Companies;

Unnati got the license and was reclassified as “NBFC-MFI by the RBI. AWARDED 'SKOCCH Order of Merit' for 'India's Best Financial Inclusion Project'

Unnati applied for NBFC-MFI license to Reserve Bank of India. RECEIVED 'India Microfinance Equity Fund' (IMEF) from SIDBI

Acquired a Non-Banking Finance Company (NBFC) named Unnati Trade & Fincon Private Limited and started transforming the Loan Book to NBFC-MFI;

Partners like State Bank of India & SIDBI joined us

Started Microfinance Operation through a Not-For-Profit Organization known as Sarala Women Welfare Society in West Bengal.