Manappuram Finance’s subsidiary Asirvad Microfinance has achieved a significant milestone as it offered microfinance to over 450,000 women members and achieved Rs 1000 crore AUM in Tamil Nadu. The company had started its operations in the state in 2008. V.P. Nandakumar, MD & CEO, Manappuram Finance, said the microfinance company’s foundation was laid in Tamil Nadu and today it has achieved an AUM of Rs 4444 crore by rapidly expanding its business operations across 20 states and 3 union territories. Raja Vaidyanathan, MD of the company, said the company has also achieved another milestone in August 2019 when it opened its 1000th branch in Bihariganj in Bihar. Asirvad Microfinance, promoted by Raja Vaidyanathan and his family members in 2007, was acquired by Manappuram Finance in February 2015 and it now a subsidiary company of the Gold Loan Company Manappuram Finance.
