★ Navachetana Microfin Services Private Limited (NMSPL) is a non-deposit taking NBFC-MFI, based in Karnataka, India. It is engaged in extending micro-credit primarily to women borrowers through (JLG) model since 2009.
Mr. Nagendra Mali is the founder and Managing Director of the Navachetana Mircofin Services Pvt Ltd. He possesses more than 27 years of experience in financial services, not-for-profit socio-economic development sector, education and co-operatives. He has been honored with numerous awards & accolades towards extra-ordinary contribution in MFI field and a proud recipient of “Outstanding Entrepreneurs in 2019” by Council of State Industrial Development & Investment Corporation of India.
★ NMSPL caters to customers in rural and semi-urban areas of Karnataka, Maharashtra and extended to Tamil Nadu State with branch network of 146 branches. NMSPL is presently operating with an AUM of Rs.847.80 Cr (On Balance sheet exposure of Rs.282 Cr) as on Dec 2022. The prudent underwriting policies adopted by the management has enabled the company to maintain a sound asset quality with on-time portfolio at 96.79%, Gross Non Performing assets (GNPA) at 0.95%, average collection efficiency of 97.43% for 12 months ended Nov 30, 2022
★ The Company’s capital adequacy ratio is extremely strong at 22.05% vis-à-vis regulatory requirement of 15%, PAT of Rs. 1.05 Crs for the half year ended on 30.09.2022. The regular rounds of equity infusion by the Promoters reflects the strong commitment towards its business.
★ NMSPL lenders in its growth journey include esteemed PSU Banks, Pvt. Banks and various NBFC’s. The lenders pie includes borrowings from PSU Banks (76%), Pvt. Banks (7%), NBFCs/FIs (15%) and others (2%) in form of NCD.
★NMSPL has partnered with various banks viz ESAF Small Finance Bank, CSB Bank, for business correspondence since FY2019
★ NMSPL has started new business model i.e Co Lending with one of the India’s Leading Bank SBI and has been actively involved in sourcing loans under co-lending tie up arrangement from FY 22-23