About Us

Company Profile

Taraashna Financial Services Limited (“TFSL”) (Erstwhile Taraashna Services Limited), was incorporated on May 22, 2012 under the Companies Act, 1956 with the Registrar of Companies, National Capital Territory of Delhi and Haryana. TFSL is enabled under its objects to carry on the business of, among other things, the promotion and nurturing of JLG and MSME/ SBL and linking them to banks and other financial institutions for availing different financial services and to provide capacity-building support. TFSL has also commenced providing business correspondence services for secured loans to small businesses, through its Principal Partners.

SCNL has acquired TFSL as its subsidiary, pursuant to a special resolution passed by its shareholders on July 30, 2016. TFSL acts as a business correspondent for banks & NBFCs and provides similar services to other financial institutions in rural and semi-urban areas. TFSL has collaborated with eight Principal Partners, including six Scheduled Commercial Banks ( including Yes Bank,  JANA Small Finance Bank, CSB Bank, FEDERAL Bank & IDFC First Bank.) and two NBFCs (Reliance Commercial Finance and Northern Arc Capital (erstwhile IFMR Capital)) to provide such services and seeks to expand its association with other banks and financial institutions. TFSL assesses the credit requirement of the members of the groups and evaluates their credit history, their historical and current cash flow and the sustainability of their ongoing economic activities.

As on March 31, 2019, TFSL had 180 branches across Madhya Pradesh, Gujarat, Bihar, Rajasthan, Maharashtra, Punjab and Uttar Pradesh and had provided services in respect of gross loans aggregating to ₹6042.10 million. The total income of TFSL for fiscal 2016, 2017, 2018 and 2019 was ₹322.65 million, ₹404.83 million, ₹538.58 million and ₹682.84 million respectively.


Satin Creditcare launched its operations as a provider of individual and small business loans and savings services to urban lenders in 1990, going on to be registered as an NBFC with the RBI in 1998 and converting into an NBFC-MFI in November 2013. The company completed its IPO in the fiscal year of 1997 and was duly listed on the Delhi Stock Exchange (DSE), Ludhiana Stock Exchange (LSE) and the Jaipur Stock Exchange (JSE). Following the subsequent de-recognition of these exchanges by SEBI, Satin Creditcare listed its Equity Shares on the Calcutta Stock Exchange (CSE) on May 19, 2015, on the NSE on August 26 and the BSE on October 20 in the same year, adhering to the guidelines and policies issued by SEBI regarding the exit option to regional stock exchanges (issued December 29, 2008) and the exit policy for derecognized/non-operational stock exchanges (issued May 30, 2012).

The SCNL business is primarily based on the Joint Liability Group model, which allows the company to provide collateral-free, microcredit facilities to economically active women in both rural and semi-urban areas, who otherwise have limited access to mainstream financial service providers. SCNL also offers loans to individual businesses and Micro, Small & Medium Enterprises (MSMEs); product financing for the purchase of solar lamps, as well as loans for the development of water connections and sanitation facilities. With operations spanning 23 states and union territories across India, including Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, Haryana, Rajasthan, Uttarakhand, Maharashtra, West Bengal, Gujarat, Jharkhand, Delhi & NCR, Chhattisgarh, Assam, Orissa, Himachal Pradesh, Tamil Nadu, Karnataka and Chandigarh, SCNL maintains a focus on rural and semi-urban areas, ensuring delivery of their services deep within regions which face low or at best, moderate rates of penetration by other microfinance institutions.

Acquiring Taraashna Services Limited (TFSL) as its subsidiary, pursuant to a special resolution passed by its shareholders on July 30, 2016, has allowed SCNL to leverage on its expertise and knowledge in the financial sector, gained over a period of over 28 years. It also enables the company to be involved in higher ticket size transactions, this experience is expected to have a significant advantage as the company’s overall business grows in scale, diverse products are introduced and ticket sizes increase. What’s more, the acquisition of TFSL has further diversified the company’s revenue streams to include fee income, which SCNL believes will add value, further its growth and also act as a hedge against any risks that its microfinance business may face. TFSL seeks to enter into arrangements with various other banks and financial institutions to scale the business correspondent and allied services business and in new product and geographies. SCNL believes there is significant business opportunity and regulatory push in this area, with the RBI actively supporting the business correspondent model as a means to achieve the objective of financial inclusion for all.

Website:- www.satincreditcare.com

Board of Directors

      • Mr. Harvinder Pal Singh

        Promoter Director

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Management Team

  • Mr Rahul Garg

    Chief Financial Officer

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  • Mr. Manish Dwivedi

    Head HR & Admin s

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Our Mission

MISSION: To facilitate financial inclusion by connecting economically excluded families with mainstream banking institutions, in order to empower women and weaker sections of society by driving inclusive growth, boosting competitiveness and fostering sustainability.


VISION: To become the preferred financial intermediary and services solutions provider for the economically excluded population and the partner of choice for mainstream banking institutions.

Banking On The Pillars Of Growth

Seeking Excellence

We strive for perfection and excellence in all that we do and it is this motto that has led to the sustained growth of SCNL, regardless of upheavals in the economic environment. The sincerest efforts of every member of the Satin family to uphold these values shows in the treatment of customers and employees, while dealing with investors and clients and above all, in the supportive and inspiring environment we work in.

Accountability & Ownership

Accountability is all about answerability; the willingness to accept a task and be responsible for completing it to the best of one’s abilities. Ownership, on the other hand, requires not only taking onus of the task at hand, but responsibility for the outcome of it, whatever that may be. While workloads and responsibilities are often shared at SCNL, each person feels completely accountable for the job they do. Employee diligence and dedication form the very foundation on which happy, successful companies are built.

Teamwork & collaboration

The SCNL way is to ‘do it better together!’ We believe in the collaborative approach; each person finds their niche in the company and the best manner in which to serve its needs, rather than chasing individual gains. Teamwork brings out the best in people and at SCNL, we feel that positive, constructive and efficient collaboration can ensure success.


Strength and stability, both moral and financial, are the backbone of SCNL. Integrity is at the apex of our business and we hold ourselves to the highest financial, intellectual and ethical standards no matter what.

Nurturing Lives

As a company, SCNL aims to create value for all the people associated with it, through its various endeavours and actions. Be our customer, vendor or people we work with, SCNL endeavours to make an impact and difference to all those we interact with.