ABOUT SATYA MICRO CAPITAL
SATYA, established in October 2016 and headquartered in New Delhi, embarked on its operational journey in January 2017, with a distinctive focus on providing micro-loans to low-income and under-served entrepreneurs in rural and semi-urban areas of India. Since its inception, SATYA has exhibited remarkable growth, amassing an Assets Under Management (AUM) that surpasses Rs. 5100 crore in less than seven years. This achievement positions SATYA as one of the fastest-growing microfinance institutions in India, propelled by the strategic integration of advanced technology. The organization’s commitment to leveraging modern technology for increased efficiency, risk reduction, and improved client experiences is apparent through its adoption of cutting-edge innovations in its operations.
SATYA has established a widespread presence with a network of over 600 branches spanning 51,000+ villages across 25 states. The company boasts an extensive workforce of more than 7000 employees. Currently, SATYA caters to the financial needs of over 16 lakh women entrepreneurs in rural and semi-urban areas, individuals who often face exclusion from traditional banking channels due to their low, irregular, and unpredictable incomes. This holistic and technologically driven approach exemplifies SATYA’s dedication to fostering financial inclusion and empowerment in communities across India
Vivek Tiwari, with a Post Graduate Degree in Rural Development and management, has over two decades of experience in Microfinance and Development. As the MD, CEO, and CIO of SATYA MicroCapital Limited, he provides leadership and strategic direction. Mr. Tiwari focuses on technological innovation for responsible lending and financial inclusion. He oversees day-to-day operations, manages various departments, identifies growth opportunities, and implements microfinance investment plans. Beyond business, he pioneers initiatives like Emergency Loans, #MealForMigrants, and SATYA Shakti Foundation. Technologically, he initiated SATYA client Connect, SATYA Pay, Digital NACH, e-Sign, e-KYC, and QR Code-based UPI Payment. He established SATYA Samvad for team interaction and conducts workshops on digital financial literacy and inclusion.
ROLE OF THE LEADER
The individual takes a strategic approach to decision-making, focusing on pivotal aspects that significantly influence the organization’s success. This includes shaping a clear mission and values that prioritize affordable financial services for low-income individuals and small businesses, fostering their growth and development. Additionally, the emphasis on drafting a comprehensive business plan highlights a commitment to increasing profitability and expanding SATYA’s reach through innovative loan products, robust partnerships, and the strategic leverage of technology. Effective communication, responsible financial management, and the continual incorporation of emerging technologies underscore a holistic approach aimed at achieving organizational resilience and delivering enhanced value to clients.
In parallel, the individual’s dedication to maintaining open and transparent communication with clients and stakeholders is recognized as a crucial element for building trust and goodwill within the organization. Furthermore, the strategic tracking of revenue and expenses, securing funding sources, and prudent debt management demonstrate a commitment to managing finances responsibly. Simultaneously, the ongoing exploration and strategic deployment of emerging technologies reflect an adaptive stance, ensuring that SATYA stays at the forefront of industry advancements, ultimately contributing to improved services, heightened efficiency, and enhanced client value.
WHO ARE THEIR CLIENTS?
SATYA is a dedicated organization addressing the financial needs of the unbanked, particularly focusing on rural women at the bottom of the socioeconomic pyramid. The organization provides accessible micro-credit services to over 16 lakh women entrepreneurs in rural and semi-urban areas. These individuals, often excluded from traditional banking due to low and unpredictable incomes, receive support for income-generating activities in sectors such as business, trade, production, services, agriculture, animal husbandry, and water & sanitation. By promoting entrepreneurship and facilitating livelihood generation, SATYA aims to bridge the gap between different segments of society, emphasizing financial inclusion and societal upliftment, particularly in domestic and rural markets.
SATYA MICRO CAPITAL USP
SATYA is at the forefront of technological evolution in various sectors, employing data analytics and ongoing market research to launch innovative products. As a “New Age Digital MFI,” the organization has implemented end-to-end technology-driven processes, promoting operational efficiency and cashless transactions. Recognized as a “Great Place to Work” for the third time, SATYA emphasizes responsible leadership and employee well-being. Unique practices like the “SATYA Song” and “SATYA Pledge” foster financial discipline, equality, and loyalty. The “SATYA Shakti Foundation” showcases the company’s commitment to CSR, supporting initiatives in sanitation, health, education, and empowerment, and contributing to community well-being
Aligned with our Vision Statement, SATYA’s goal is to catalyze the socio-economic upliftment of 5 million households by 2025. Our growth and business strategies center on fostering entrepreneurship and livelihood creation to realize this vision. The focus is on the holistic development of the marginalized and often overlooked segments of society. As SATYA progresses, we aspire to make a positive impact on more lives and households.
The ongoing integration of processes under the digitization umbrella enhances our efficiency, pushing accuracy levels to new heights to meet the diverse needs of our clients. As one of the fastest-growing microfinance companies, SATYA prioritizes innovation, constantly developing technological solutions for client interaction and needs assessment. In the midst of the microfinance industry’s digital transformation, SATYA is actively moving towards becoming a ‘Figitech company,’ reflecting our commitment to embracing technology for a more impactful and efficient financial inclusion journey.
NEW TRENDS IN THE MARKET AND HOW DID THEY OVERCOME?
- Digitizing Financial Services: Many microfinance institutions (MFIs) are leveraging digital technologies to enhance accessibility and reduce operational costs. E-KYC, E-sign, NACH, client-specific QR Code-based UPI Payments, and online loan applications are becoming standard practices, simplifying clients’ access to financial services.
- Prioritizing Client Well-being: The microfinance industry is undergoing a notable shift from a singular focus on loan repayment to prioritizing the overall well-being of clients. Adopting a client-centered approach, MFIs now offer comprehensive services, including financial literacy training, savings, insurance, and other financial products to support clients holistically.
- Innovation in Financial Products: MFIs are actively exploring inventive products to cater to the unique needs of their clients. Examples include initiatives by SATYA, which pioneers creative solutions to address specific challenges faced by its clientele. This highlights the industry’s commitment to adaptability and a focus on the unique requirements of clients.
HOW DO THEY ENCOURAGE PEOPLE AT THEIR ORGANISATION?
Prioritizing Key Organizational Elements:
- Crafting a Clear Vision and Values: Emphasis is placed on defining a compelling vision and values, aligning the organization’s direction with a commitment to providing accessible financial services to low-income individuals and small businesses, fostering their growt
- Strategic Business Planning: The individual is dedicated to developing an all-encompassing business plan. The objective is to enhance profitability and broaden SATYA’s influence through the introduction of inventive loan products, the cultivation of robust
- Open and Transparent Stakeholder Communication: Recognizing the paramount importance of clear communication, the focus is on consistently engaging with clients and stakeholders. This proactive approach is integral to building trust and cultivating
- Sound Financial Governance: The individual prioritizes prudent financial management, closely monitoring revenue and expenses. Ensuring secure funding sources and maintaining responsible debt control are central to fostering the overall financial stability of the organization.
- Technological Advancement Strategies: Emphasizing a commitment to innovation, the individual actively explores emerging technologies. Strategic integration of technology is a continuous effort aimed at improving services, optimizing operational efficiency, an
NEW STRATEGIES FOR BUSINESS
SATYA’s vision is to uplift 5 million households by 2025 through a focus on entrepreneurship and livelihood creation. Learning from past crises, the company has adapted their Business Continuity Plans with a strong emphasis on technology. With an impressive track record since 2017, their services are becoming more efficient through digitization. Positioned as one of the fastest-growing microfinance companies, SATYA is innovating and moving towards becoming a ‘Figitech company.’ Leveraging CSPs and BC networks, they’ve introduced applications like SATYA client Connect, SATYA Pay, and QR Code-based UPI Payment, transforming our microlending operations with a tech-driven approach. This reflects our commitment to innovation and staying ahead in the evolving microfinance industry.
ADVICE TO THE READERS
Dear readers, the writer urges you to view challenges as opportunities for growth and to strive for success guided by a clear sense of purpose. Through collaboration, there is a collective potential to mold a more promising future for individuals and enterprises. For those drawing inspiration from the writer’s experiences, the importance of upholding integrity, strategic thinking, and active community participation is emphasized. The encouragement is to break free from constraints and preconceived notions, pursuing aspirations with the embrace of a distinctive viewpoint. The call is to question conventional wisdom and persist in efforts, as your unique journey holds the power to ignite positive transformations and redefine the true essence of success.