Every impactful journey begins with an idea—one that takes root and grows into something transformative. Such is the story of Dr. HP Singh, the founder of Satin Creditcare Network Limited (SCNL), one of India’s leading microfinance institutions.

In 1998, while working as a Chartered Accountant in Delhi, Dr. Singh observed a ‘rent-to-own’ scheme that allowed individuals to acquire household items like television sets through daily rental payments, eventually leading to ownership. This concept inspired him to design a similar financial model for small business owners and grassroots entrepreneurs who lacked access to lump-sum capital. At the time, traditional financial institutions offered limited support to these underserved segments.

Recognizing this gap, Dr. Singh developed a system of daily loan repayments, making it more manageable for low-income borrowers to access credit. This innovative approach laid the foundation of SCNL’s business model, enabling borrowers to enhance their income potential, stabilize cash flows, and improve their overall quality of life. This model continues to guide SCNL’s operations and impact today.

Satin Creditcare was incorporated in October 1990, commencing operations in East Delhi—a region historically considered challenging for financial services. Successfully establishing a presence in this market, the company expanded its reach across Delhi and ventured into rural areas in May 2008, adopting the Grameen Model to better serve the needs of the underserved.

SCNL was registered as a Non-Banking Financial Company – Microfinance Institution (NBFC-MFI) with the Reserve Bank of India in 2013. The company went public in June 1994, with IPO shares initially listed on the Delhi, Jaipur, and Ludhiana stock exchanges. After these were de-recognized by SEBI, SCNL secured listing on the Calcutta Stock Exchange (CSE) and later listed its shares on the National Stock Exchange (NSE) in August 2015 and the Bombay Stock Exchange (BSE) in October 2015, expanding its reach and investor base.

SCNL operates primarily on the Joint Liability Lending model, targeting rural and semi-urban areas with fortnightly and monthly repayment options for borrowers. The company is committed to providing affordable microcredit for productive activities through both group and individual lending structures. These borrowers often lack access to funds from formal financial institutions, and SCNL’s loans help enhance their income-generating capacity. Consequently, this contributes to employment generation, improved social welfare, and the promotion of a healthy working environment. SCNL also boasts a robust pan-India presence.

Through its subsidiaries, the company extends a comprehensive range of financial services, addressing the financial needs of the ‘Missing Middle.’ By leveraging its microfinance outreach, SCNL offers affordable housing and retail MSME loans to clients who have successfully completed more than two loan cycles and require higher credit. By leveraging the strength of our microfinance outreach, we endeavor to offer affordable housing and retail MSME loans to clients who have completed more than two loan cycles with the company and have higher credit requirements. This approach aligns with our broader strategy of customer life cycle management. By serving microfinance graduated individuals, we deepen our relationships with existing clients while addressing their evolving financial needs and capabilities.