Through the acquisition of housing finance company New Habitat, we are on the fast track to becoming a full-spectrum Financial Inclusion group. It will go a long way in expanding our offering to underserved clients.
Making rapid advances within the industry, one of India’s largest Business Correspondent Networks, Save Solutions has acquired New Habitat Housing Finance And Development Limited (NHHFDL), The Bihar-head quartered company is working to offer its customers all-around financial products by also adding housing loans to the equation. Besides Bihar, the company will simultaneously extend its reach to other states including Delhi-NCR and UP. The move will further strengthen Save Solutions’ financial inclusion portfolio.
Speaking on the same, Ajeet Kumar Singh, Founder Director, MD & CEO, Save Solutions, said, “The acquisition brings our company to a full-circle. Save Solutions excels in offering all Banking and Financial Products under one roof to rural and semi-urban people. Through the acquisition of housing finance company New Habitat, we are on the fast track to becoming a full-spectrum Financial Inclusion group. It will go a long way in expanding our offering to underserved clients.”
The brainchild of Ajeet Kumar Singh, Pankaj Kumar, and Ajay Kumar Sinha, Save Solutions was incepted in 2010. Since its inception, the brand has been committed to delivering high-quality financial services through a dedicated network of Customer Service Points (CSPs) across rural and semi-urban areas. The group is backed by renowned impact investors, Incofin and MAJ invest.
Apart from being a trusted partner of various PSU banks & RRB like The State Bank of India, Bank of India, Bank of Baroda, Jharkhand Rajya Gramin Bank, Baroda UP Bank and Punjab National Bank, it is also a co-lending partner with State Bank of India. Save Solutions is a pioneer in many aspects. For instance, it is the first BC that introduced its customized Mobile Application for CSP Visits. It is also the first company to tie up with a VSAT company for internet connectivity. In addition, 90% CSP are in Rural and Semi-Urban Area.
Save Solutions currently has products in MSME, LAP and Micro Finance. Moving forward, Save Solutions has its targets set on associating with new banks and introducing innovative Financial Products across pan India.
Source: Business World