A new dawn for microfinance

There are many contributing factors to the growth and new-found enthusiasm for microfinance

In July, Ananya Birla’s Svatantra Microfin Pvt Ltd announced the acquisition of Sachin Bansal-led Chaitanya India Fin Credit Ltd in a deal valued at Rs 1,479 crore. The transaction, one of the largest in the sector, is expected to make Svatantra the second largest player among non-banking financial company-microfinance institutions (NBFC-MFIs) in India with Rs 12,409 crore worth of assets under management (AUM). CreditAccess Grameen Ltd, the largest player, had an AUM of Rs 21,031 crore in March 2023.

Svatantra has entered into a definitive agreement to acquire Chaitanya, a wholly-owned subsidiary of the Navi Group.