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While the last five years has seen the government take several steps towards accelerating financial inclusion in India, the country continues to house the second largest unbanked population in the world despite some positive on-ground impact. Keeping in alignment with the nation’s mission, the SATIN Group incorporated a new NBFC to handle its MSME business – Satin Finserv. SFL, which started disbursement at the end of March 2019, wants to become a significant contributor to the MSME space with a diverse range of financial services products and play its role in strengthening the Indian Economy. SFL is engaged in the business of providing various financial services to entrepreneurs, MSMEs and individual businesses, as well as lending to other MFI companies.
Satin Finserv has been specifically established to fill a much needed gap in the market, targeting small business owners in manufacturing, trading and services – all customer segments that are usually denied mainstream access to organized finance.