Taraashna Services Limited

Taraashna Services Limited (TSL), was incorporated on May 22, 2012 under the Companies Act, 1956 with the Registrar of Companies, National Capital Territory of Delhi and Haryana. TSL is enabled under its objects to carry on the business of, among other things, the promotion and nurturing of SHG and JLG and linking them to banks and other financial institutions for availing different financial services and to provide capacity building support to SHG and JLG.

SCNL has recently acquired TSL as our subsidiary, pursuant to a special resolution passed by our shareholders on Jul 30, 2016. TSL acts as a business correspondent for banks and provides similar services to other financial institutions in rural and semi-urban areas. TSL has partnered with four private sector banks (RBL Bank, IndusInd Bank, Yes Bank and DCB Bank) and two NBFCs (Reliance Capital and IFMR Capital) to provide such services and seeks to expand its association with other banks and financial institutions.

As on Sep 30, 2016, TSL had 137 branches across Madhya Pradesh, Gujarat, Bihar, Rajasthan, Chhattisgarh, Maharashtra and Punjab, and had provided services in respect of gross loans aggregating to ₹4,292.59 million. The total income of TSL for fiscal 2014, 2015 and 2016 was ₹51.88, million, ₹215.60 million and ₹322.65 million, respectively.

TSL’s business allows us to leverage on our expertise and knowledge in the financial sector, gained over a period of over 25 years. It also enables us to be involved in higher ticket size transactions, and we expect this experience to be a significant advantage as our overall business grows in scale, diverse products are introduced and ticket sizes increase. The acquisition of TSL has also further diversified our revenue streams to include fee income, which we believe will add value, further our growth and also act as a hedge against any risks that our microfinance business may face.

To know more, please visit: www.taraashna.in

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