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 derecognition 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, Odisha, 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.
The past few years has seen Satin Creditcare expand both its regional penetration and the nature of its financial offerings. Beginning with the 2016 acquisition of Taraashna Services Limited (TSL) to provide Business Correspondent services, SCNL has since forayed into the affordable housing segment with its wholly owned subsidiary, Satin Housing Finance Limited, a company incorporated in 2017 to provide property-based loans for small businessmen and the otherwise financially neglected sections of society. More recently, the company launched LoanDost, a global digital lending app geared towards acquiring millennial customers, with their need for faster turnaround and simpler processes. SCNL ushered in the new year with its newest subsidiary – Satin Finserv received its NFBC license at the start of 2019 and has been engaged with providing loans to individual businesses, Micro, Small & Medium Enterprises (MSMEs), corporates and even other MFI companies as well.