3 | Annual Report 2023-24 Founder & Group Chairperson’s Address Vineet Chandra Rai Founder and Chairman Aavishkaar Group Dear Shareholders, Welcome to the Annual Report FY 2023-24 for Arohan Financial Services Limited, a Non-Banking Finance Company-Micro Finance Institution, an Aavishkaar Group Company. In 2001, we believed that Entrepreneurship has the potential to contribute toward solving complex social problem of the world. Today everything we do centres around the entrepreneur. We build entrepreneurial ecosystem through Intellecap, provide high growth capital through Aavishkaar capital, collateral free loan to MSME through Ashv Finance and Microfinance loans to millions of clients from Arohan Financial Services. Each year when we reminiscence the year gone by, we try to summarize our understanding from the point of view of our Clients, our regulator, our employees and our shareholders. Along with the reflections from these critical stakeholders, we diligently look at four critical metric, our values, our culture, our financials and our impact. As I look forward to the year gone by, our clients have been resilient. They fought through the upheaval of the pandemic and they are now dealing with the impact of El-Nino. The impact of climate change and related disruption has significantly increased the challenges in front of them in managing their cash flows and livelihood. Despite all the above, the clients have remained steadfast in making on time payment for the EMI and continue to be the most resilient stakeholder of the microfinance story. Reserve Bank of India our regulator has provided a light touch and nurturing regulatory ecosystem to microfinance institutions to thrive and deal with the challenges of the COVID pandemic. Our sector Self-Regulatory Organization - Microfinance Industry Network (MFIN) with the recognition and support of the RBI has been the anchor around which the credibility of Microfinance sector has been built and we are grateful to the leadership of MFIN for their contribution in helping the sector build such a credible track record. Arohan represents the ambition of its close to 10,000 strong workforce and it is them who continue to push the company forward. Our Chief Financial Officer - Milind Nare, Chief Business Officer - Sumit Mukherjee, Chief Compliance Officer - Anirudh Thakur, Chief Information Officer - Arvind Murarka
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