| SATRA MF to SDFPL : At a Glance |
About Us:
SATRA Development & Finance Private Limited formerly known as M/s Multiple Finance Private Limited (hereinafter mentioned as “The Company”) is a NBFC-MFI registered with Reserve Bank of India, Guwahati. , and has been working as an NBFC Microfinance Institution, which was originally registered with RBI, New Delhi regional office. The Company is based in Sipajhar, Darrang District of Assam and currently operating with 3 branches in Assam.
SATRA a non profit entity working for socio economic development of rural masses continue its MF activities since 2004.However, being a non-profit entity, SATRA (i.e. NGO) is not an ideal way for continuing microfinance activity in long run. At the same time, RBI has created new category of NBFC called NBFC-MFI to regulate the Microfinance sector. As a result, banks are reluctant to provide loans to NGO-MFIs, which affect the NGO’s planning to cover more beneficiaries & area and attain growth. Therefore, need has arisen to transform its Microfinance programme into an NBFC.
Thus, to transform into an NBFC, a Haryana based NBFC called M/s Multiple Finance Pvt. Ltd. was acquired and completed the transformations.
The chronology of the process is as follows:
» Regional Director (NR)-MCA passed its order to transfer the ROC from N.C.T of New Delhi & Haryana to Shillong vide order dated 06-02-2013.
» ROC, Shillong issued new COR on .13-08-2013
» RBI, Guwahati issued new COR on 14-11-2014.
» Name has been changed into M/s SATRA Development Finance Pvt. Ltd. ROC; Shillong issued fresh COR under new name on 10-09-2014.
» RBI, Guwahati has also issued fresh COR under new name on 14-11-2014.
» Receipt of NBFC-MFI classification on 23-05-2016
| Mission | Vision |
|---|---|
| To establish a progressive, peaceful and developed society based on the values of Equity, Justice, trust, love, honesty, dignity and mutual help. | To organize and empower the rural poor women, youth to promote development as a liberating force for achieving Social Justice, Economic growth and self reliance. |