Backed by a solid financial bedrock and a resilient operational structure, Arohan is positioned for substantial growth in the forthcoming year. With aspirations to reach beyond 3 mn customers and extend its reach to underserved regions, Arohan is laser-focused on refining its product suite, finetuning pricing strategies, and spearheading digital financial inclusion initiatives. The company sets its sights on exceeding INR 10,000 Cr in Assets Under Management, aligning every endeavor with its overarching strategic vision of impacting 28 million lives by the year 2028. As Arohan sets sail into the future, its foremost objectives revolve around streamlining processes, enriching its product spectrum, and broadening its outreach endeavors - all integral components of Arohan’s holistic strategy to actualize its goals and foster meaningful progress for the communities it serves. grading, and COCA C1 rating. Moreover, the launch of KnowledgeTank Arohan, a thought leadership blog series, reinforced Arohan’s commitment to sharing insights and expertise within the industry. Additionally, “Arohi,” the first AI bot employee deployed in Recovery efforts, contributed to operational efficiency. Successes in legal and compliance fronts included the success of Lok Adalat efforts and the establishment of an active Vigilance team ensuring investigation & action on fraudsters. The detailed rollout of the ERM initiative with the in-house system “Sandesh” further bolstered the Company’s risk management practices. Arohan’s remarkable achievements in FY 2024 garnered widespread recognition and acclaim, exemplified by a string of prestigious awards and accolades. Notably, the AMFI WB award for best IT platform, along with three esteemed SKOCK Order of Merit Awards, 2023 for Innovation in Lending (ArohanPrivilege), Solution in Lending (Nirnay) and Solution in Financial Inclusion Programme (Apna Arohan Customer App), underscored Arohan’s excellence and innovation in financial technology and service delivery. Furthermore, Arohan’s receipt of the Asset Triple A, 2023 for the “Best Payment and Collections Solution, India” in association with IDFC First Bank for their digital payments solution reaffirmed its leadership in leveraging technology to optimize operational efficiency and enhance customer experience. The ISO 9001 re-certification of the Internal Audit unit demonstrated Arohan’s unwavering commitment to quality management practices and continuous improvement. In addition to these accolades, Arohan’s reinstatement on the governing board of Micro Finance Industry Network (MFIN), our Self Regulatory Organisation, as the Vice Chair reaffirmed its dedication to shaping industry standards and best practices. These recognitions not only validate Arohan’s outstanding performance but also serve as a testament to its relentless pursuit of excellence in responsible lending and impact in the microfinance sector. WAY FORWARD FOR FY 2024 Arohan is unwavering in its commitment to empower individuals at the grassroots of the socio-economic spectrum by fostering financial inclusion. Through the provision of accessible credit and essential services, Arohan tirelessly strives to bridge the gap and uplift communities. Grounded in its dedication to delivering value to all stakeholders, Arohan is poised for an expansive journey, both within its current territories and into uncharted territories, leveraging organic growth, strategic partnerships, and digital advancements. Management Discussion & Analysis Annual Report 2023-24 | 34
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