Asirvad Microfinance aims for strong business growth; reaches Rs 3,000 crore AUM

Asirvad Microfinance Ltd, a subsidiary of Manappuram Finance, Thursday announced that it has reached a milestone of managing Rs 3,000 crore microfinance assets.

"Asirvad has been achieving an incremental Rs 100 crore assets under management for past five months and is poised to reach Rs 3,500 crore AUM by this financial year-end", managing director of the company Raja Vaidyanathan said in a statement here.

Also, the company received a capital of Rs 150 crore from Manappuram Finance, the release said. Asirvad Microfinance Ltd currently has 1.6 million women members through a 930 branch network across the country, the release added.