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Arohan Financial Services to be Rolled out in MP and UP
April 27, 2017
Arohan Financial Services, a microfinance company backed by Micheal and Susan Dell, is set to become operational in the second half of the year in Madhya Pradesh and Uttar Pradesh, although both are two of the most economically weak states of the country.
Referring to the concerns over non-repayment of the loans, managing director Manoj Kumar Nambiar said that MP and UP are actually doing better than Maharashtra, and the plan is to start with the eastern UP region which has shown a better performance for the microfinance companies.
Arohan has already reduced the lending rate by 200 BPS, and according to Nambiar it is possible for another 50-100 BPS reduction.
