 "Ananya Birla, founder and chairman of Svatantra Microfinance, in Mumbai on Thursday. Photo: Kamlesh Pednekar")
Svatantra Microfinance, promoted by Ananya Birla — daughter of industrialist Kumar Mangalam Birla, plans to build up a balance sheet of Rs 500 crore by the next financial year. The microfinance institution (MFI), having a loan book of Rs 260 crore, focuses on lending to rural women.
“Svatantra’s loan book has grown at a compounded annual growth rate (CAGR) of 220 per cent since inception and has achieved break-even in FY17,” said chairperson and director Ananya Birla.
Founded in 2012, the MFI lends at 22-22.75 per cent and has disbursed loans aggregating Rs 450 crore till date.
Senior Vice-President Vrushali Mahajan said the
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