Asirvad Microfinance Ltd Raises securitises loans worth

Asirvad Microfinance Ltd. Raises securitises loans worth Rs. 262 crore

 

Asirvad Microfinance Ltd., India’s 4th largest NBFC MFI and a subsidiary of Manappuram Finance Ltd., has securitised (by direct assignment) microfinance loans worth Rs.262 crore in a deal with a leading public sector bank in India. 

 

The announcement comes at a time when the microfinance sector in India has faced higher stress from lockdowns imposed after the onset of the second wave of the pandemic.  

 

Earlier in May 2021, the company has raised US$ 15 Million Loan from WorldBusiness Capital Inc. based in Hartford, Connecticut (USA).  

 

In a statement Mr. Raja Vaidyanathan, MD of Asirvad Microfinance Ltd., said, “This deal, following closely on the heels of an ECB transaction with the US based WorldBusiness Capital, reaffirms the confidence that leading lending institutions have in India’s microfinance sector and its prospects for growth.”

 

Proceeds from the loan availed will enable Asirvad to expand its business of providing small loans to low-income women business owners in rural areas to start and expand their income-generating business.  

Universal Sompo General

 Universal Sompo General Insurance Company Limited Onboards 

Dr. (Ms.) Puneet Kaur Kohli as Chief Technology Officer

 

 Dr. (MS.) Puneet Kaur Kohli has been appointed as Chief Technology Officer of Universal Sompo General Insurance Company Limited w.e.f. 5^th October 2020. She brings over 23 years of extensive experience in Information Technology across esteemed organisations.

 

 Prior to joining Universal Sompo, Dr. (Ms.) Puneet Kaur Kohli had worked with Manappuram Finance Limited as Group Chief Information and Technology Officer. In her career of 24 years, Dr. Kaur has worked in various leadership roles and was associated with Bajaj Cap, Motricity, Bharti Airtel. She has worked internationally in countries including USA, UK, Canada, Dubai and across APAC.

 

Dr. Kaur is a qualified Research Doctorate-Excellence Management. She has done her MBA in Information Systems from FMS Delhi & B.Tech from Delhi College of Engineering.

 

Dr. Kaur won the business transformation leaders award from TechCircle for 2020, NBFC Tech 100 award for disruptive technologies in 2019 and 2020. Also for consecutive five years from 2011 to 2015 received top 100 CISO award, was also honoured with the Hall of Fame CIO award for 2017 (for bagging CIO 100 award for 4 years in a row). In the year 2014, she received Infosec Maestros award and Business World award for its acceleration for innovation in storage. She has been also conferred with ‘Jewels of Punjab’ award from Dr. Manmohan Singh (former Prime Minister).