Taraashna Services Limited (TSL) was incorporated in May 2012 under the Companies Act (1956) with the aim of promoting financial inclusion; by acting as an intermediary between financial partners and unbanked clients and paving access to much needed financial services like credit, micro insurance and saving facilities. The company follows a customer centric approach and is a firm believer in enrichment of human capital through continued training. Technology and innovation at every level, are also key demands across all aspects of TSL operations.
When it comes to its clientele, TSL lends grassroots support from start to end; identifying, nurturing and promoting JLGs (Joint Liability Group) across villages, providing capacity building support and helping link them with banks and other financial institutions to avail different financial services. This is done after an assessment of the credit requirements of the group and its members, in addition to evaluating their credit history, current and historical cash flow and the sustainability of their ongoing economic activities. At the same time, TSL acts as a business correspondent for banks and NBFCs, offering similar services to other financial institutions in rural and semi-urban areas. The company also provides secured loans to small businesses through its seven Principal Partners – five Scheduled Commercial Banks (Yes Bank, DCB Bank, RBL Bank, IndusInd Bank and State Bank of India) and two NBFCs (Reliance Commercial Finance and IFMR Capital). Since its inception, TSL has constantly striven to enhance their service delivery and expand its association with other banks and financial institutions. As a result, TSL has rapidly emerged as one of the most trusted partners for banks offering access to finance.
TSL was acquired by Satin Creditcare Network Ltd. on Sep 01, 2016 following a special resolution passed by its shareholders on July 30, 2016. TSL became Wholly Owned Subsidiary of Satin Creditcare Network Ltd. with effect from July 27, 2018. The company operates across Eight Indian states, with 184 branches spread across Madhya Pradesh, Gujarat, Bihar, Rajasthan, Chhattisgarh, Maharashtra, Punjab and Uttar Pradesh. As of March 31, 2018, TSL had disbursed an aggregate of gross loans amounting to Rs.6699.24 million, marking yet another successful fiscal year – the company’s income has grown from Rs.215.60 million in 2015, to Rs.322.65 million in 2016, to Rs.404.83 million in 2017, finally clocking in at Rs.538.29 million in 2018.