This report describes the terms and conditions of a project for consideration for approval by ADB under the Faster Approach to Small Nonsovereign Transactions (FAST) framework. This document dated April 2017 is provided for the ADB project 50209-002 in India.
This equity investment to Satin Creditcare Network Limited will allow increased uptake of financial services to women in lagging states and rural areas. Satin will use the proceeds of the ADB investment to increase its capital base, with the objective of expanding responsible financial services to underserved and unserved households in rural and semi-urban India. ADB funding will underpin Satin’s objective of providing products and services to address the financial needs of India’s poor, which are not being met by mainstream financial institutions, and thereby complement the government’s objective to increase financial inclusion.