Skill Loan Worth INR 1000 Crore Announced by SATYA MicroCapital Ltd. in collaboration with NSDC

ANI |
Updated: May 30, 2022 7:38 p.m IS

New Delhi [India]May 30 (ANI/NewsVoir): SATYA MicroCapital Ltd., one of the country’s leading RBI-registered NBFC MFIs, announced its collaboration with the National Skill Development Corporation (NSDC) in providing financial assistance to students enrolled in the NSDC network known training partner.
The collaboration aims to offer student loans at attractive interest rates, in addition to improving productivity and creating sustainability in rural areas.
With a vision to help aspiring students earn certifications, diplomas, degrees and other skills development training courses, this initiative will enable them to explore higher employment opportunities on a merit-based basis.
Disadvantaged students who do not have access to such educational institutions can avail this loan for qualification and further education through NSDC-approved institutions. This initiative will also make an effective contribution to the Skill India Mission of the Government of India as the Skill Loans aim at the skill and upskilling of the country’s youth. Aspiring students can contact the nearest SATYA branch for details on skill loans and offerings.
India has the world’s largest young population under the age of 25, most of whom live in the country’s small towns and villages. With this association, SATYA plans to expand its microfinance reach to those at the bottom of the pyramid in the rural and semi-rural hinterland. Over the next three years, SATYA intends to offer INR 1000 crore worth of accessible lending services for skill loans, in parallel with the development of a qualified India. This partnership will clearly empower people, secure their future and endure the overall growth of an individual.
SATYA MicroCapital Ltd. and NSDC will also encourage trainees to take on entrepreneurial roles, which will lead to the creation of more jobs in their communities.

The National Skill Development Corporation (NSDC) is a not for profit public limited company incorporated on 31 July 2008 under Section 25 of the Companies Act 1956 (corresponding to Section 8 of the Companies Act 2013). NSDC was set up by the Treasury as a Public Private Partnership (PPP) model. NSDC aims to foster skills development by catalysing the creation of large, quality and for-profit VET institutions. In addition, the organization provides funds to build scalable and profitable vocational training initiatives. Their mission is also to enable a support system focused on quality assurance and information systems, training the coaching academies either directly or through partnerships.
Ved Mani Tiwari, COO and Acting CEO of NSDC, shared his views on the association, stating, “NSDC has partnered with SATYA MicroCapital to provide skill loans to students enrolled with NSDC-accredited training partners and so to promote the qualification and further training of the youth and increase their employability. Skills loans will help close the funding gaps and make skill development programs convenient for students to access. This is a great partnership that builds on SATYA’s recent milestone and the presence of NSDC training facilities across the country to provide financial support to the prospective students.”
“By effectively providing microcredit and enabling myriad growth opportunities, SATYA has played a catalytic role in promoting financial inclusion and poverty alleviation. However, we also cannot deny that gaining an education beyond secondary education is still a dream for many in rural India. There is a noticeable gap in the rural education system due to which rural children face many difficulties. We recognize that the lack of financial support is one of the biggest barriers to participation in Technical and Vocational Education (TVET) courses. Investing in quality education pays the best return, we have developed these products to offer a solution to the challenge . I firmly believe that it is time for SATYA to break into the education segment. Fostering the development of skills for the youth will surely fuel the nation’s economic growth. I would also like to express my gratitude to NSDC for putting their trust in our company and offering us this opportunity tunity to SATYA. The program will not only train youth/women to build the skills, but also equip them with networking, time management and communication skills,” said Vivek Tiwari, MD, CIO and CEO, SATYA MicroCapital Ltd.
SATYA has nurtured an ecosystem for the growth of microfinance industry in India. By providing comprehensive loan disbursements worth approx.
INR 5600 crore, thereby serving as an impetus for inclusive growth and the development of the marginalized population sector at grassroots level. Looking ahead to its future course of action, SATYA aims to act as a catalyst for the socio-economic improvement of 5 million households by 2025.
In addition to educating its customers about financial inclusion, digital banking, savings options and government programs, the company is seriously opening up a new dimension in Indian microcredit.
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