MoneyWorks4Me

Manappuram Finance’s arm achieves dual milestones

26 Aug 2019 Evaluate

Asirvad Microfinance, a subsidiary of Manappuram Finance, has achieved a significant milestone with its AUM (assets under management) in the state Tamil Nadu alone crossing Rs 1,000 crore. This was accomplished by disbursing microfinance loans to over 450,000 women members. Asirvad Microfinance commenced operations in Tamil Nadu in 2008 and completed a decade of operations last year.

Asirvad Microfinance achieved another milestone in August 2019 when it opened its 1,000th branch in Bihariganj in the state of Bihar.

Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.

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