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ஆசிர்வாத் மைக்ரோபைனான்ஸ் லிமிடெட்          Asirvad Micro Finance Limited          आशीर्वाद माइक्रोफिनॅन्स लिमिटेड         ആശിർവാദ് മൈക്രോഫിനാൻസ് ലിമിറ്റഡ്          ಆಶೀರ್ವಾದ್ ಮೈಕ್ರೋಫೈನಾನ್ಸ್ ಲಿಮಿಟೆಡ್          ਅਸਿਰਵਾਦ ਮਿਕਰੋਫਈਨਂਸੇ ਲਿਮਿਟੇਡ          ଆଶୀର୍ବାଦ ମଇକ୍ରୋଫାଇନାନ୍ସ ଲିଃ          আশির্বাদ মাইক্রো ফাইনান্স লিমিটেড

Message from MD

Dear Shareholders,

It gives me immense pleasure to share the 15th Annual Report. I feel privileged to have led your Company as Managing Director during the most crucial year FY 2021-22.

The year began with the second wave of the pandemic which had a serious impact on lives and livelihoods, especially on the people at the bottom of the pyramid. Communities and businesses across the world adapted to the new normal. This year was a concoction of learning, unlearning, and relearning.

Staying true to its vision, your Company stood by its customers during this challenging year. It is our commitment to continue to empower the members at the bottom of the pyramid.

During FY 2021-22, we disbursed ` 8,557 Crores loans and served 26 Lakh customers across MFI, MSME, and Gold Loan segments and witnessed a 17% growth in AUM with enhancement of 461 branches taking the total branch network to 1,526 during the year.

I am also privileged to announce that your Company has developed an inclusive and sustainable digital ecosystem through substantial investment, skilled resources, adequate and scalable cloud infrastructure, agile processes, secure and a conducive regulatory environment, making it clear that Asirvad Information Technology has become the key driver for current and future advancement of business.

 The Reserve Bank of India’s (RBI) new regulatory framework for microfinance loans issued on March 14, 2022 is a welcome move. The RBI has completely redefined the microfinance business, which will provide more flexibility and create a level playing field for all. With the deregulation of margin cap, the opportunity for risk-based pricing sets the backdrop of a promising future for MFI’s.

The process of adaptation has been very challenging, starting from change in strategies, processes, approaches, and systems. This year has witnessed a high degree of resilience demonstrated by our beloved employees. Their remarkable contributions are the reason that your Company has grown in these unprecedented times.

I take the opportunity to express my sincere gratitude to the regulators for their continuous guidance and support in helping us build a sustainable business. The commitment and co-operation of the employees is the backbone of your Company and I thank them for being true asset. I have no doubt that everyone from the bottom to the top of the pyramid will strive to take Asirvad to the next level and make your Company the epitome of success.

I also appreciate the efforts and guidance of our esteemed Board members and the parent Company. I express my gratitude to all our shareholders and customers for their continued support.

I am optimistic that, together, we can take Asirvad to newer heights in creating value for the community.