9th floor,
No 9, Club House Road, Anna Salai,
Chennai-600002,
Tamil Nadu.
Tel: 044-35298100
1 800-309-3055
May 21, 2021 : Asirvad
Microfinance Ltd. Raises US$ 15
Million Loan from WorldBusiness
Capital
December 31, 2019 : Asirvad Micro
Finance crosses Rs.5,000 crore in
AUM
August 28, 2019 : Asirvad achieves
Rs 1,000-cr AUM in Tamil Nadu
April 3, 2019 : Manappuram
infuses ₹264 cr in Asirvad
January 9, 2019 : Asirvad Micro
Finance securitises MF portfolio
December 13, 2018 : Asirvad
Microfin AUM touches ₹3,000 crore
Joshy KG is the Chief Technology Officer of Asirvad Micro Finance Ltd and is responsible for leading the function of Information Technology at the company. He has 12 years of extensive work experience in the IT industry. Prior to joining Asirvad MFI, Joshy has worked as CTO & CIO of Manappuram Finance Limited, Parent Company of Asirvad Micro Finance Ltd. Joshy KG is a qualified Chartered Accountant and he has obtained various certifications in IT and other Domains from various prominent institutions
Satheesh Kumar is the Chief Operating Officer at Asirvad Micro Finance Limited. (AMFL), a subsidiary of Manappuram Finance Limited. With over 18 years of experience, Satheesh brings with him a rich and diverse experience that helps in driving the growth of the company. His expertise ranges from scaling-up businesses at AMFL, strategic planning, data
analysis, and cross-functional team leadership.
He is instrumental in starting the Non-Microfinance Loans vertical in AMFL, which includes offering lending to small retailers.
Prior to AMFL, he was associated with Share Microfinance Ltd and He was a Graduate from Andhra University.
Having worked at varying functional layers of operations across the country, Mr Shyju K comes with more than a decade of experience in NBFC operations. He started his career in 2011 and holds right perspective on limitless possibilities of manpower management.
With First Class Postgraduate from University College, Thiruvananthapuram, he also has MBA (Finance) and Diploma in Computer Operations and programming to his credit. Currently he is pursuing LLB from Karnataka State law University.
Mr. Muthu Bhaskar holds a Bachelor of Commerce from Mahatma Gandhi University Kottayam, Master of Business Administration from Sikkim Manipal University-Gangtok. Leadership and Management Certificate Program from University Pennsylvania, Leadership and Change Management from IIM Trichy, Operations Management with Six Sigma from IIM Kashipur. Since he joined the company in jun-2020, he has been contributing immensely in establishment of gold loan business across India.
He has around 18 years of work experience in Non-Banking Financial Company. Prior to joining Asirvad Micro Finance limited he was associated with Manappuram Finance Limited as Head Operations, where he was responsible for managing entire facets of operation activities and processes. He has worked closely with the senior management team and designed strategies aligned with business goals. He is currently the Business Head-Gold Loan of the Company.
Ms. Anita Belani holds a bachelor’s degree in Economics from the Delhi University and Master’s in Business Management from Xavier School of Management (XLRI), Jamshedpur. She has significant experience of over 3 decades in Human Resource and Strategy orientation. Her experience includes consultation across sectors at Board / CEO levels in areas such as Org Transformation, Market Entry Strategy, Leadership, Strategy Clarification, CEO Succession & Culture Building. Ms. Anita has served as the Managing Director and India Head for Russel & Reynolds, an operating partner at Gaja Capital Partners, and has held senior roles at KPMG, Jardine Fleming, Sun Microsystems.
He retired as Chief Financial Officer- Citi Bank, India Subcontinent in 2015 and Chairman – Citicorp Services India Limited after serving the organization for almost 20 years. Post Retirement, he is associated with a big four firm as an External Advisor, to provide broad strategic support for their activities in the Banking and Financial Services Sector. He serves on the board of several reputed companies and chairs the Audit Committees and Risk Committees of many of these organisations. He recently joined the Risk & Investment Committees of the National Stock Exchange. In the past, he was on the Board of National Securities Depository Limited (NSDL)., IDFC First Bank and has been an advisor to General Atlantic. He has a B.Tech (Hons) degree from the IIT, Kharagpur and a PGDM from the IIM, Kolkata with majors in Finance & Information Systems.
She is a Law graduate from Madras Law College and holds a Bachelor’s degree in Arts from Stella Maris College. She is a designated Senior Advocate of the Madras High Court and has been practising as an advocate for over 35 years, specializing in the field of taxation and corporate laws.
Experienced Financial Services professional, with over 40 years of experience in banking & Financial services in India and abroad. Has been with diverse institutions (Union Bank of India, ICICI bank (as EVP and Head of International banking), Union bank of California (as Vice president and Regional Head of South Asia Region) and Federal bank (as its Executive Director). Good project management experience in setting up institutions. Has been Non-Executive Director, Experian credit information co of India p ltd, has approved person status with UK regulator FCA. Extensive experience in foreign exchange, cross border trade Finance, payment business, consumer credit, Core banking application system implementation, and compliance including AML, CTF & financial crime prevention practices. Experience in global standards and best practices in Governance. Harshan is an alumnus of Mumbai University.
He is a qualified Chartered Accountant and a postgraduate in Commerce from the Calcutta University. Mr Gautam Saigal is the founding partner of Pachira Financial Services LLP. He has over 24 years of experience in financial services covering private equity investment, investment banking and advisory services.
Till mid-2013, Gautam was the Managing Director of AA Indian Development Capital Advisors Ltd., advisors to the India dedicated mid-market focussed private equity fund launched by the Ashmore Group and Alchemy Partners, UK. Prior to this, he was Vice President, AIG Global Investment Group (Asia) and Co-Head of its India private equity advisory practice. Gautam has been a member of the Board of team and Board Committees in several companies including in Financial services, Telecom, Energy distribution, Healthcare, IT services, Consumer products, logistics, Infrastructure etc.
A former member of Indian Administrative Service Mr Balakrishnan retired as Additional Chief Secretary, Industries and IT Departments Kerala. He has rich experience in various fields including Public Administration, Regulations, Industry, Tourism,Infrastructure, IT and Local Self Government. He has worked in TN, Kerala, Delhi and New York in his long career. He has served in more than 40 Boards including State PSUs, Central PSUs, Statutory Boards and reputed Private Sector Companies, as Director. He has attended several National and International Conferences, Training Programs and Seminars.
In the year 1977, Mr. S.K Mitra started his career with Bank of India and played a vital role in setting up the Merchant Banking Division of the Bank. During the period from 1978 to 1984, he worked for Standard Chartered Bank in investment banking and was advisor for several domestic and international business houses for new projects and acquisitions.
Later, in year 1985, Mr. Mitra joined American Express Bank and was the head of Corporate Banking and Investment Banking in India. He also worked for the GIC Mutual Fund, Aditya Birla Group. He joined Aditya Birla Group in 1994 as Director, Financial Services and set up a wide range of successful ventures.
Served as Independent Director on the Board and Committees of several reputed organization. Currently, he is India Correspondent for Asia Asset Management , Hong Kong. Continues to be an Advisor to a large international bank..Has been advisor to a few PE firms and Start Up firms. Have also been a nominee director on Board of companies on behalf of PE firms. Continues to be associated with several international and domestic NGOs and business chambers in India. He is a founding Governing Council Member of the newly registered Association of Corporate Independent Directors (ACIND).
Former Managing Director & CEO of CARE Ratings. Have around 39 years of experience in the financial sector in the areas of banking and credit rating. He has expertise in product conception and development across all sectors including Manufacturing, Infrastructure, Finance, and SME among others. Have maintained a high growth trajectory after taking over as acting Managing Director and made CARE the second largest rating agency.
B.Tech (IIT Madras), MBA (IIM Calcutta), AICWAI, ACS and has more than 40 years of experience in the field of Financial Services, Infrastructure, Media, Telecom & Retail sectors. He is the founder of the Company and has been actively involved in building Asirvad for the last decade and a half initially as Chairman and then as MD till June 2021. Currently, he is non-executive director of the company.
Master’s Degree in Commerce from the Calicut University and completed his intern from the Institute of Certified Management Accountants. He held senior positions in Finance and Accounts in various organizations in the Middle East. Further, he was on the Board of Manappuram Finance Limited from 1992 to 2022. He is currently the Managing Director of the Company.
Ph.D. (Karpagam Academy of Higher Education), MBA Finance (Bharathiar University) and brings ten or more lengthy, richly varied engagements with financial technology. He has more than a decade of experience, with a focus on Credit Risk Management Solutions, Strategic Planning for Financial IT Solutions at Manappuram Comptech and Consultant Limited, and experience in educational training as an Assistant Professor at SNM Institute of Management and Technology in Kochi (EKM), Kerala.
Neena K P is the CHRO of Asirvad Micro Finance Limited. She holds Post Graduate Diploma in Labour Law and employee relations & Human Resource Management and is an MBA graduate also.
Before joining AMFL, she has been associated with Manappuram Finance Limited as HR Head since 2018 and was responsible for entire HR function of the Company with over 27,000 employees spread across the country and she has 23 years of experience in different verticals including operations and administration.
KS Sugesh Ram is an Advocate and Company Secretary. He also holds a post graduate diploma in Mass Communication in Journalism from Symbiosis.
Before joining AMFL as CCO, he has been associated with Private Companies, Public companies, NBFC and a leading business conglomerate based in Kerala as Legal Head and Company Secretary.
Also an air veteran, he served Indian Air Force for 20 years as Ground Training Instructor till 2013.
Chintha Prasad holds Master’s Degree in Commerce (Finance) from Andhra University and MBA ( Finance and Marketing) from Bharatiar University. He also holds Leadership Change Management certificate from IIT Trichy. He has been associated with Manappuram Group for more than 17 years and in 2019 transferred to Asirvad Microfinance Ltd to lead MFI operations. He started his career with Manappuram Finance Ltd and is presently CEO of MFI segment of the company with a positive career trajectory.
Nandagopalan G is a Post Graduate Diploma in Personnel Management and also had qualifications in CAIIB and a bachelor’s Degree in Commerce. He had more than 42 years of successful service in leading private sector Bank with wide experience in major verticals (Branch Banking, Audit, HR, Credit Underwriting (SME as well as Large Corporate) in all geographies. i.e. Rural(Kerala), Semi-Urban/Urban (Kerala, Tamilnadu, Andhra Pradesh), and Metros (Delhi, Chennai, and Mumbai).
2.The Borrower confirms that the stones fixed in the pledged gold ornaments/items, if any, do not have any market value and that the said gold ornaments /items is/ are the absolute and unencumbered property of the Borrower and no other person has any right, title, interest or claim thereon.
3.The Borrower confirms that all particulars/details given in the applications are true and correct and no information has been suppressed/ withheld. The Borrower acknowledges that the Company shall have no liability for any consequence arising out of any erroneous/misleading details provided by the Borrower for which the Borrower shall be solely liable. The Company may sanction, at its sole discretion, loans of such amount, as the Company may deem fit, for such purpose(s), as set out in the application form.
4.The Borrower shall pay interest at the rate specified in the Pawn ticket and incidental charges as applicable to the loan. When interest is not paid at monthly intervals, the interest shall be compounded on a monthly basis. Interest will be calculated on the basis of 365 days a year on the amount outstanding. If the loan is not repaid on demand within the loan tenure, as specified in the pawn ticket, the Company shall have the right to levy overdue interest @3% P.A after expiry of the loan tenure, as specified in the pawn ticket on the amount of loan plus interest in default. Interest will be payable from the date of the loan till the account is closed, both dates inclusive.
5.The loan is based on the weight, purity, and existing market value of the Gold.
6.The Company will make only a preliminary verification of the Gold and the Company has the right to further check the purity / weight of the Gold internally or by experts at any point of time if required, at the Company’s sole discretion, at the cost and expense of the Borrower. The Company shall, at its discretion, have the right to open the packets, melt all or any portion of the Gold, at any time during the currency of the Loan.
7.Notwithstanding anything mentioned herein, the Borrower shall repay the entire dues/outstanding under the Loan including principal, interest, and other charges, immediately on demand, if the Company observes, after verification internally or by experts, that the whole or part of the Gold is not of the prescribed weight / purity or if the title of the Borrower to the Gold is found defective or if the same is disputed by any other person. The certificate issued by the Company stating the exact grams of the gold after translating the same to 22 carats is based on the preliminary verification made at the time of granting the loan and may be treated as provisional and not final.
8.The period of Loan is as mentioned in the pawn ticket and the Borrower is required to repay the loan along with interest on or before the completion of loan tenure, as specified in the pawn ticket from the date of disbursement. However, the Borrower shall have the option to foreclose the loan at any time during the currency of the loan by paying the principal loan amount along with interest and other Incidental charges as applicable to the loan. Similarly, the Company may, at its sole and absolute discretion, have the right to further extend the tenure of the loan for such periods, but not exceeding one year from the date of disbursement of the loan. Borrower can also make part payments of principal or interest at any time during the currency of the loan. Pre-payment charges, if any, will be mentioned in the pawn ticket. Notwithstanding anything mentioned herein, the Company shall be entitled to recall / cancel the Loan at any time at its discretion without assigning any reasons and thereafter the Dues shall immediately become payable to the Company.
9.The postage charges, as revised from time to time at the discretion on the Company, shall be recovered from the respective account.
10.If full repayment of the loan, along with interest and charges, is not made within the period of the loan (as specified in the pawn ticket) or within such period as demanded by the Company, the Company shall have the right to sell or otherwise dispose of the Gold through public auction at the risk and cost of the Borrower. The Borrower, out of his/her free will, authorizes the Company to dispose of the Gold by public auction at any time after 2 weeks from the date of notice to the Borrower at the given address and adjust from the net proceeds of such sale, all amounts, including interest and other charges, due to the Company in respect of the loan. If there is any surplus on such sale, the Company shall have the right to appropriate such surplus towards any other liability of the Borrower, solely or jointly with others, on any account whatsoever, to the Company at any of its offices. The net surplus, if any, after such appropriation, shall be refunded to the Borrower within 30 days of auction. In case of any shortfall after disposal of the Gold, the Company shall have the right to resort to legal proceedings against the Borrower to recover the shortfall.
11.Notwithstanding anything referred above, if the Company is convinced, at its sole discretion, that the estimated realizable value of the gold at any time is less than the total amount due by way of principal, interest and other charges on this loan or on any other loans availed by the Borrower at any of the branches of the Company or there exists any other circumstance, which in the sole opinion of the Company, is prejudicial to the interest of the Company, the Company reserves the right to sell the gold by public auction at any time during the currency of the loan after serving a registered notice to the Borrower.
12.Further, the Borrower understands and acknowledges that the Company shall subject to auction, all accounts remaining fully or partially unsettled after expiry of the loan tenure, as specified in the pawn ticket or otherwise. The Company shall intimate the Borrower by registered letter or courier service or SMS or telephone or personal intimation or e-mail or any other mode of communication its intent to subject the Gold to public auction well before the proposed auction date. The auction shall be conducted as per the guidelines issued by the concerned Regulatory Authorities from time to time. The list of accounts subject to auction along with the date and venue for auction shall be displayed at the concerned branch of the Company and on the Company Website and shall also be published as per the guidelines issued by the concerned Regulatory Authorities from time to time.
13.In the event of loss of pledged Gold due to theft, burglary or for any other reasons from the custody of the Company, the liability of the Company shall be limited to replacing the lost Gold with equal net weight as mentioned in the loan application form / pawn ticket.
14The Company shall have the right to exercise lien on the Gold offered as security for this loan to secure the repayment of any other liability of the Borrower to the Company, which is due and payable, until such other liability is also fully settled. Exercise of such lien will be duly intimated to the Borrower by letter, courier service, email, SMS, telephone or any other mode of communication.
15.The Company may effect changes prospectively in the interest rate, charges etc. after due intimation to the Borrower. The Borrower undertakes to settle the loan within 7 days of the date of such intimation in case the revised rate of interest, charges etc., as intimated by the Company are not acceptable to the Borrower.
16.The Company shall have the right to assign or transfer or securitize the rights to obtain necessary advance or financial facility from any Bank or Financial Institution or other organizations or for any other lawful purpose, at any time during the currency of the loan.
17.The address for all communications to the Borrower shall be the one furnished in the loan application form by the Borrower. Unless any change of address is duly intimated by the Borrower to the Company in writing and duly acknowledged, any communication sent to the Borrower in the address furnished in the loan application shall be tantamount to valid receipt / acceptance of the communication sent by the Company. The Borrower shall also keep the Company duly intimated about any changes in the recorded landline phone or mobile phone number to facilitate communications. The Borrower understands and agrees that the Company may contact the Borrower over phone to pass on transactional as well as promotional communication and the Borrower consents for the same. It is also understood and agreed by the Borrower that such conversation may also be recorded by the Company for future use.
18.In the event the Borrower fails to produce the pawn ticket at the time of settlement, the Company may, at its sole discretion, deliver the pledged Gold of the Borrower after completion of the prescribed formalities and subject to payment of processing charges, as may be applicable from time to time.
19.The Borrower shall bear, pay and reimburse all present and future charges relating to administration, interest tax, service tax, duties (including stamp duty), sales tax/VAT and taxes (of any description as may be levied by the Government or any other authority from time to time) and all other costs and expenses whatsoever in connection with (a) application for and the grant and repayment of the Loan; (b) recovery and realization of the loan together with interest; (c) enforcement of Security ; (d) clearance of arrears of all taxes and any other charges and levies of the Government in respect of Security and (e) insuring the Security.
20.The rate of interest and the approach for gradation of risk and rationale for charging different rates of interest to different category of customers is based on the details/attributes of the loan scheme vis-a-vis Loan to Value (LTV), tenure of the loan and the amount of the loan extended.
21.The locker facility, if any, provided by the company at any of its branches is not regulated by the Reserve Bank of India.
22.The Company shall have the right to make disclosure to Credit Information Bureau of India Ltd. (CIBIL) or such other similar agencies.
23.All disputes, differences and/or claims arising out of or touching upon this loan, whether during its subsistence or thereafter, shall be settled by arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996, or any statutory amendments thereof and shall be referred to the Arbitration of a Sole Arbitrator to be appointed by the Company. The award given by such Sole Arbitrator shall be final and binding on the Borrower and the Company. The venue of arbitration shall be in Kerala.
B N RaveendrababuMaster’s Degree in Commerce from the Calicut University and completed his intern from the Institute of Certified Management Accountants. He held senior positions in Finance and Accounts in various organizations in the Middle East. Further, he has been on the Board of Manappuram Finance Limited since 1992. He is currently the Managing Director of the Company.
Aparna Menonis a qualified Company Secretary with 6+ years of experience. She joined Asirvad in December 2020 and prior to joining us, she has worked with Manappuram Finance Limited, Prestige Mysore Retail Ventures Private Limited and Prestige Estates Projects Limited.
Rajesh Krn Namboodiripad is a qualified Chartered Accountant with 22 + years of experience. He joined in Asirvad Microfinance Ltd in December 2021 at prior to joining us he has worked with Manappuram Finance Ltd, ManIndustries, Al-Nasser Investments LLC, Batliboi Ltd.
He is a retired officer of Indian Forest Service (IFS). He was Principal Chief Conservator of Forests and Head of Forest Forces, Kerala, and Chairman of Kerala State Electricity Board as well as Kerala State Electricity Regulatory Commission. He holds a Masters Degree in Chemistry and Sociology and is also a law graduate.
He retired as a Chief General Manager from NABARD in Micro Credit innovations Department. He is an expert in Institutional Development, Organisational Development, Organisational Behaviour, Small Business Development, Training need assessment, Training techniques, etc. He has more than 35 yrs of rich experience in the banking industry.
He is the MD & CEO of Manappuram Finance Ltd., one of India’s leading non-banking financial companies (NBFC) and the pioneer of the institutionalised model of the gold loans business. Mr. Nandakumar took over the reins of a single branch family business in 1986, and over the next three decades presided over its growth and transformation into a financial sector powerhouse. His vision, values and leadership were instrumental in scripting this story that today touches millions of lives in India. Manappuram’s origins go back to 1949 when it was founded by the late V.C. Padmanabhan, father of Mr. Nandakumar. In those days, the firm was into money lending, and pawnbroking carried out on a modest scale at Valapad, a backward coastal village in Thrissur district of Kerala. After taking over in 1986 (the year his father expired), Mr. Nandakumar soon set about expanding the business in line with his ambitions and vision. In 1992, he incorporated Manappuram Finance Ltd., and within three years (in 1995) managed to get the company listed on the Bombay Stock Exchange. Since then, he has led from the front to transform Manappuram Finance Ltd. into a leading NBFC present across India with 4,637 branches in 28 states and UTs, with Assets under management (AUM) of about ₹27,224 crore, (nearly US$ 4 billion) and a workforce of over 30,000. In recent years, Mr. Nandakumar has resolutely steered the company’s diversification into microfinance, home loans, vehicle finance, SME and personal lending to reshape the company into a full-spectrum NBFC. Today, about 30 per cent of the company’s total business comes from the non-gold side. Mr. Nandakumar’s achievements in business have earned him national recognition. On May 26, 2018, a special issue of the Business World magazine profiled him as one among 40 of India’s most valuable CEOs. Besides, Manappuram Finance Ltd. has emerged as one of the leading wealth creators in the Indian stock market. In December 2019, the Economic Times newspaper published the ET500 list of Top Wealth Creators of 2019 with Manappuram Finance Ltd. as the chart topper. Other than the focus on business, the cause of the wider community is central to his vision. He established the Manappuram Foundation at Valapad in 2009 to drive the corporate social responsibility (CSR) programme of the Manappuram group, even before the Companies Act made it mandatory. Today, the Manappuram Foundation oversees a wide range of projects in education, health care, and overall development of the rural communities. Mr. V.P. Nandakumar was born in 1954, holds a post-graduate degree in science and additional qualifications in Banking and Foreign Trade. He is a managing committee member of leading trade and industry associations such as FICCI, Assocham and FIDC. In January 2019, he was appointed to the Board of Governors of the Indian Institute of Management, Kozhikode. In July 2019, he was elected as an International Director of the Association of Lions Clubs International at its Milan (Italy) convention.
