Asirvad microfinance is one of India’s top 6 microfinance companies. It has achieved this position thanks to the dedication and commitment of its employees who work tirelessly to further company’s mission. Asirvad microfinance serves over 2 million people through its 940 branches across 22 states and UTs across India. It began its journey in 2007 with a vision to help the economically weaker sections of society in a sustainable model. Promoted by Mr. S.V. Raja Vaidyanathan, Asirvad has grown from strength to strength and acquired a national identity within a decade of its formation. 

Business Growth

Asirvad Microfinance began its operations from Chennai in January 2008 with 8 employees. The company built scale on the back of equity infusion of Rs 7 Crore from Lok Capital in the same year. By 2011, Asirvad had 85 branches in the state across 22 districts and a portfolio of Rs 100 Crore in Tamil Nadu. Between 2011 and 2014, Asirvad worked with communities across the state helping citizens with income generation activities. Asirvad was acquired by Manappuram Finance Limited (MAFIL) in February 2015 and has since then expanded from 5 to 16 states and increased its branch network from 85 to 943 branches across India.

AMPL offers loans as well as other services to women from poor and low-income households. Creation of equal opportunities and inclusive development of both urban and rural poor is what inspires the MFI to strive ahead. These loans help the clients raise their standard of living and consequently help break themselves and their families out of poverty.

Deploying Technology

As it charts the next phase of growth, Asirvad’s is working to integrate its workforce and technology in a manner that can help the greatest number of people, in the shortest span of time. Asirvad was amongst the first microfinance institutions in India to deploy the mobile phone as an operational tool in 2009. The company has already implemented 100% cashless disbursement and is looking to deploy automation to improve employee productivity and enhance customer satisfaction. Last year, the Company partnered with a leading agency to initiate cash deposits through alternative channels in 17 remote locations. This has helped to reduce the risk of carrying cash to the Banks. Asirvad is now actively looking to automate more systems in a manner that is most productive use of our human assets and capital.


Asirvad Microfinance received CARE rating of ‘MFI 1’, the highest grading in the industry. The bank loan rating was also upgraded to A- by ICRA and CARE ratings. In July 2018, we were graded ‘CARE MFI One’ for operational and financial capability to undertake and sustain the targeted level of operation based on various parameters. In October 2018, CRISIL rated us ‘CRISIL A Plus Positive’ for term bank loan facilities and issue of non-convertible debentures and ‘CRISIL A1 PLUS’ for issue of commercial papers.

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