The Saral product line, inclusive of Saral Newto-Credit, Saral Use-to-Credit, and Saral Repeat, offers loan amounts ranging from INR 25,000 to INR 1,00,000, underpinning Arohan’s commitment to inclusive financial solutions. With loan terms typically spanning 24 to 30 months, Arohan ensures flexibility and sustainability in its offerings, aligning with the evolving needs of its customers. Over the years, the Company has transformed its existing product range by strengthening the existing product dynamics, with the help of digitalisation, focused on customer experience, thereby increasing the tenure of the customer lifecycle with Arohan. Micro-Enterprise Loan: MSMEs serve as the cornerstone of the Indian economy, representing a staggering 63 million micro-segment enterprises. Acknowledging the immense market potential within this sector, Arohan, in FY 2023, had established a dedicated department: the Micro Enterprise Loan programme. This innovative initiative aims to address the vital working capital needs of micro enterprises by providing loans ranging from INR 50,000 to 5 lakhs, tailored to suit each customer’s specific business requirements. Arohan stands out as the first NBFC-MFI to establish a dedicated credit team, aimed at providing an objective and robust underwriting process by the centralized Credit Department of the Company. Here, the process particularly focuses on underwriting for Higher Ticket Size Loan through videobased Personal Discussions. Presently, the service operates from 22 branches across various regions, with plans for further expansion in the near future. Secondary Loan Products Over the years, Arohan’s Secondary Loan Product vertical has emerged as a robust platform for establishing a deep connection with customers and their families. Central to this endeavor is the strategic implementation of Cross Sell initiatives, which not only expands customers’ access to a wide array of financial inclusion products but also strengthens Arohan’s credit relationships and engagement with its clientele. In FY 2024, the vertical witnessed substantial growth, marked by an expanded network of partnerships tailored to meet the diverse needs of customers. This expansion encompasses both financial products such as life and non-life insurance, as well as non-financial products, reflecting Arohan’s commitment to holistic financial inclusion. Cross Sell Business Model: Arohan’s Cross Sell business model operates on the principle of enhancing customer touchpoints while concurrently elevating their standard of living. By diversifying operational risks and creating new revenue streams, Cross Sell initiatives contribute significantly to the company’s sustainability and growth. Facilitated by the innovative “ApnaBazaar” platform, Arohan seamlessly integrates Cross Sell into its customer interactions. Leveraging scheduled meetings with Customer Service Representatives, innovative products to new and existing customers, adding value to their lives, and empowering them with the power of choice. Over time, Arohan has successfully fostered multiple linkages and engagements with customers and their families, catering to their evolving needs for both financial inclusion and non-financial products. This holistic approach underscores Arohan’s dedication to empowering communities and fostering long-lasting relationships beyond mere financial transactions. 1. Financial Products Arohan’s approach to financial products epitomizes efficiency and customer-centricity. The onboarding process for insurance policies operates seamlessly in a fully paperless manner, complemented by cashless premium collection facilitated through deductions from the primary loan disbursement. Each customer enrolled in a policy receives a Certificate of Insurance (CoI) promptly, delivered via SMS with a compressed URL for easy access. In the unfortunate event of a claim, Arohan stands by its customers’ families, providing unwavering support. While the associated Insurance Company manages the claim process, Arohan ensures a smooth transition by facilitating the necessary information transfer to expedite claim closure. Leveraging an IT-based portal for raising Life Insurance claims not only streamlines the process but also minimizes the risk of information loss, thereby reducing Turnaround Time (TAT) for claim processing. Through these streamlined procedures and proactive assistance, Arohan reaffirms its commitment to safeguarding the financial well-being of its customers and their families, ensuring a hasslefree experience even during challenging times. Arohan’s suite of financial Cross Sell products include: 37 | Annual Report 2023-24
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