Belstar Microfinance Limited (Belstar) is a Non-Banking Finance Company (NBFC) and a subsidiary of Muthoot Finance Limited. Our leadership core is made up of accomplished Board members and an experienced team. Guided by expert hands, we have successfully transitioned into a profitable and high-potential Microfinance Institution (MFI) with low credit risk.
Our business model is unique because it strives for a double bottom line, targeting both financial performance as well as social transformation. Alongside Hand in Hand India, Belstar aims to alleviate poverty and enhance community development.
Brand growth was accelerated after strategic equity investment by Muthoot Finance Limited, which helped us secure an ‘AA - Stable‘ rating and attain public limited company status. This made it easier for us to focus on diversification of funding profiles, scale-up services in operational states and expand to newer geographies.
Here’s a visual walkthrough of the growth, experiences and transformation that have taken place over the last decade and more.
Acquisition of the company by Dr Kalpana Sankar to provide affordable credit to the economically weak.
We commenced lending operations to SHGs
Equity investments were made by foreign investors - IFC, NMI, SwedFund, Avaishkar
We were reclassified as NBFC-MFI by RBI
We began JLG lending operations in northern parts of India.
Team strength crosses 1000
Operations expand to Chhattisgarh, Odisha & Kerala.
We won the best MFI award in the Medium Size category from Access NCDs listed on Bombay Stock Exchange.
Strategic investment by Muthoot Finance Ltd India as leading Gold House. Our strong client relationships ensured NPA levels were lower during demonetisation times.
We crossed Rs. 500 crores in the loan books and became a systemically important MFI.
Completed Series C Equity Raise. On-boarded one more PE fund as equity investor Muthoot increased their stake to 67%. Achieved another milestone when we crossed Rs. 1000 crores in the loan book.
Renamed JLG as Pragati Loans under the aegis of Chennai Super Kings (CSK). Adopted Ind AS with effect from April 2018.
Company class was changed to Public Limited followed by a name change to Belstar Microfinance Ltd. AUM crossed Rs. 2500 crores.
Shows great resilience from Covid-19 as AUM is at circa Rs. 3300 crores, as it gets covered in 19 States and UTs.
Our duty is to our customers. We guarantee need-specific quality services to clients and ensure timely delivery.
Here you’ll meet a group committed to creating a financially inclusive world, with a pioneering legacy in microfinance for the socially disadvantaged.Know More
We’ve partnered with some giants in the financial industry, many are well-known like-minded organisations that have added value to our business and helped us help others.Know More