Arohan Financial Services Limited | Annual Report 2022-23

drives. Through these efforts, the Company has recovered INR 1 Cr+ through legal interventions alone in FY 2023. Other Key Recovery Initiatives: • Sandhi Settlement Scheme: To maximize recoveries from written-off accounts, Arohan launched the Sandhi Scheme in February 2021, offering such customers a one-time settlement (OTS) opportunity on the basis of a pre-defined settlement matrix. Recovery through Sandhi stood at INR 6 Cr as on March 31, 2023, compared to INR 1.30 Cr as on March 31, 2022, and INR 22 lakh, as of FY 2020-21. • OTS Scheme for Special Pool: To maximize recoveries from a certain re-structured pool basis their repayment behaviour and DPD days, Arohan launched the Samunnati OTS Scheme in October 2022, offering such customers a one- time settlement opportunity on the basis of a pre- defined settlement matrix. Recovery through this OTS Scheme stood at INR 2 Cr as on March 31, 2023. • Customer Connect: Regular connect through calling initiatives were also established for dormant customers and Sandhi-eligible customers through the in-house Customer Care team to understand their perspective and gauge their willingness to repay. • IVR-based Messaging: IVR-based Voice Blasts for a select pool of customers had been initiated in November 2022, through an external service provider. This was undertaken to address any probable bucket flow from the lower vintage pools of customers through important reminders and information sharing, and also, to capture the intention of NPA customers to repay. • Use of SpotWays, Route Tracking Software: Arohan partnered with Infologitech Systems in December 2021, to implement their route-tracking software, SpotWays which has been instrumental in helping the REsmaintain trails and reach thedifficult customers conveniently, thus aiding recovery efforts in a big way. The software supported the field team in expanding its coverage of the allotted customer pool. • Use of Collection Agency: January 2023 onwards, Arohan has been exploring the services of Collection Agencies to take care of a certain part of its portfolio for the internal team to be able to focus more effectively on the less delinquent and contactable customer pool. UNWAVERING CUSTOMER CENTRICITY Determining the changing customer behaviour and trends, and realigning processes and services to address their needs is pertinent to Arohan’s core value of Customer Centricity. For Arohan, safeguarding and protecting the interest of the customer is paramount and one of the key strategies for sustainable growth. Connecting with customers through financial awareness J i n g l e , Bhuban Badyakar s t y l e - It is a constant focus for Arohan to educate customers and make them financially informed and independent. To this effect, in FY 2023, Arohan roped in social media sensation Bhuban Badyakar of “Kaccha Badaam” fame for a new jingle aimed at creating financial awareness in rural belts. Mr. Badyakar engaged with Arohan to generate and enhance financial awareness in rural areas through a simple and relatable narrative, in his innovative style of singing. The engagement was in view of encouraging the customers to be aware of the importance of timely repayment of EMIs to help maintain a good credit bureau record for their future. Championing Awareness Campaign on RBI Ombudsman Scheme in West Bengal - In FY 2023, Arohan was selected as a torchbearer in West Bengal for the Reserve Bank of India’s nationwide awareness programme on the Ombudsman Scheme. The campaign was held across the month of November 2022 and was run in digital mode with an informative 41 | Annual Report 2022-23