Namra Finance Ltd's grading upgraded to 'MFI 1'

Based on the rating assessment undertaken by CARE Edge Advisory, CARE has assigned a 'MFI 1' (MFI One) grade to Namra Finance Limited, a wholly owned subsidiary of Arman Financial Limited.

MFI 1 (MFI One) grade is the highest capacity to manage their microfinance operations in a sustainable manner.

Commenting on this development, Mr. Jayendra Patel - Managing Director said: "It gives me immense pleasure to share that Namra Finance Limited, our wholly owned subsidiary has been awarded the highest available grading of MFI 1 (MFI One) for its Micro Finance operations. This will help us lend further credibility in our capacity to manage operations at scale and improve the confidence of our lenders, investors, customers, and regulators.

This demonstrates the Company's capacity for prudent capital management and lends credence to its strong financial and operational health. At Arman, we are committed to providing our clients with opportunity to improve their standard of living and break the cycle of poverty by delivering customized collateral-free, income-generating group loans at their doorstep."

Source : Equity Bulls

Keywords

ArmanFinancial NamraFinance MFI1 Grade Upgrade