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Satin Creditcare forays into Telangana and Andhra Pradesh

Posted On : 2024-02-21 11:23:10( TIMEZONE : IST )

Satin Creditcare forays into Telangana and Andhra Pradesh

Leading microfinance provider Satin Creditcare Network Limited (SCNL) (NSE: SATIN, BSE: 539404) has announced its debut in two new states, namely Telangana and Andhra Pradesh. This move increases the total count of states and union territories to 26, as the company endeavours to reach more geographies. In a significant stride towards fostering financial inclusion nationwide, SCNL has inaugurated two branches in Telangana, situated in Warangal and Huzurabad and one branch in Kadiri in Andhra Pradesh.

With operations spanning across 1,386 branches, SCNL remains steadfast in its commitment to serving rural and semi-urban regions, ensuring that its services penetrate deep into areas where credit access is typically limited or moderate. The Company has been playing an eminent role in rural growth, clearly exhibited through 76% of its operations focused on rural India and its presence across 97,000 villages. This latest venture in Telangana and Andhra Pradesh market will help cater to the growing demand from the underserved poor communities in these states.

Commenting on this development, Mr. HP Singh, Chairman cum Managing Director of Satin Creditcare Network Limited, said, "At SCNL, we view expansion as more than just geographic growth. It is about reaching out to economically-marginalized households across the nation and empowering them with financial solutions. By entering Telangana and Andhra Pradesh, we aim to extend our inclusive charter to more individuals from low-income groups. This move reinforces our commitment to making a meaningful impact and strengthens our position as a truly pan-Indian company. We remain dedicated to driving economic growth and development in every region that we serve."

Shares of Satin Creditcare Network Limited was last trading in BSE at Rs. 257.85 as compared to the previous close of Rs. 258.00. The total number of shares traded during the day was 57486 in over 1350 trades.

The stock hit an intraday high of Rs. 261.60 and intraday low of 256.00. The net turnover during the day was Rs. 14869302.00.

Source : Equity Bulls


SatinCreditcareNetwork INE836B01017 TwoNewStates Telangana AndhraPradesh