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Jaipur head quartered Housing finance firm (NBFC – HFC), Aavas Financiers Limited (“Aavas”) has been awarded the Best Non-Banking Financial Company (NBFC) for the 12 months 2020-21 in Financial Express India’s Best Banks Awards 2022. The glittering ceremony came about at ITC Grand Central, Mumbai, on 26 August 2022 with the hon’ble Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman as the Chief Guest.
This time, the committee acknowledged winners from NBFC and Fintech house as properly. The analysis course of was rigorous and the winners had been chosen by an eminent jury Chaired by Mr. S Ramadorai, Former Vice-Chairman, TATA Consultancy Services. The different members had been Mr. Amit Chandra, Chairman, Bain Capital, Mr. B Mahapatra, Former Executive Director, Reserve Bank of India and Chairman, NPCI, Mr. R Shankar Raman, Director & Group CFO, Larsen & Toubro, Mr. Amit Tandon, Managing Director, IIAS India and Mr. Sharad Sharma, Founder, iSPIRT.
Aavas is primarily engaged in providing dwelling loans with a median ticket dimension of Rs.10 Lakhs.
This time, the committee acknowledged winners from NBFC and Fintech house as properly. The analysis course of was rigorous and the winners had been chosen by an eminent jury Chaired by Mr. S Ramadorai, Former Vice-Chairman, TATA Consultancy Services. The different members had been Mr. Amit Chandra, Chairman, Bain Capital, Mr. B Mahapatra, Former Executive Director, Reserve Bank of India and Chairman, NPCI, Mr. R Shankar Raman, Director & Group CFO, Larsen & Toubro, Mr. Amit Tandon, Managing Director, IIAS India and Mr. Sharad Sharma, Founder, iSPIRT.
Aavas is primarily engaged in providing dwelling loans with a median ticket dimension of Rs.10 Lakhs.
Mr. Sushil Kumar Aggarwal, Founder, Managing Director & Chief Executive Officer of Aavas mentioned, “When we started our journey in the year 2011, we had chosen unserved and unreached markets. At that time, around 70% of our customers were new to credit and without a bureau score. So, we built domain expertise in customer profiling. This stood us in a good stead during the pandemic. Creating the right product mix and right assessment criteria, going relatively slow but sure, not choosing risky assets, and understanding customer behaviour through different cycles helped us navigate the time well, even though self-employed non professional customers account for 60% of our portfolio.”
