Credit Ratings

Rating agency Instrument Amount(Crs) Rating
CRISIL Long term Bank loan Ratings 2200 CRISIL AA-/Stable (Upgraded from 'CRISIL A+/Positive')
Non-Convertible Debenture 500
CARE Non-Convertible Debenture 600 CARE A+; Stable (Single A Plus; Outlook: Stable)
Debt-Subordinate Debt 100
ICRA Debt-Subordinate Debt 32 ICRA A Stable; Outlook: Reaffirmed

Credit Grading

Rating agency Instrument Rating
CART MFI Grading MFI 1
CART Code of Conduct Assessment of Micro Financing Institution (COCA) M1C1


CARE Advisory Research and Training Ltd.


ICRA Limited (Formerly Investment Information and Credit Rating Agency of India Limited)- An Associate of Moody's Investors Service


CRISIL stands for Credit Rating Information Services of India Limited.


CARE Advisory Research and Training Ltd



Muthoot Finance Limited (MFL)

MFL the flagship company of THE MUTHOOT GROUP having over 129 years of business legacy, is India's largest gold loan Company. MFL has Loan Asset of Rs.29138 Cr, PAT of Rs.1720 Cr and 4325nos branch network as on 31-03-2018. The group's presence is also in other sectors like Hospitality, Travel & Tourism, Plantation, Home & Vehicle finance, Life/Health/General Insurance, Forex, Money transfer etc. making it a diversified business brand. MFL was ranked as India's Most Trusted Finance Diversified Brand by the Brand Trust Report India study 2018, 2017 & 2016 consecutively. The Muthoot Group has won the coveted Enterprise Uptime Champion Award 2017 at the Technology Senate.

Hand in Hand Consulting Services Private Limited

Hand in Hand Consulting Services Private Ltd. is the consulting arm of Hand in Hand India. It undertakes consultancy and partnership projects in the field of social development, specifically microfinance, financial inclusion, and livelihoods. It has successfully implemented projects in South Africa, Afghanistan, Brazil, Sri Lanka, Kenya, Cambodia, and Myanmar.

Sarvam Financial Inclusion Trust

Sarvam Financial Inclusion Trust is a private trust which is working in the area of financial inclusion and literacy training for the SHG women and improvement in the overall financial well beingof the SHGs members and is managed by the Board of Trustees.

Maj Invest

Maj Invest is a Danish asset management company with USD 11.0 billion under management, of which USD 1.0 billion are private equity assets (private equity commitments of a total of USD 2 billion). Maj Invest is a spin-off from a Danish pension fund, and was founded in 2005 as an independent asset manager. Maj Invest has been managing international private equity funds since 2009. HQ in Copenhagen with representation in Lima, London, Ho Chi Minh City, Jakarta and Mumbai. More than 100 large institutional clients and 38,000 private investors. Maj Invest Mutual Fund was launched in 2005 and is one of the highest rated in Europe by Morningstar TM ratings. Approximately 100 highly skilled specialists in four areas(a). International Private Equity (b)Asset Management (c)Danish private Equity and (d) Private saving bank

Maj Invest Financial Inclusion strategy focuses on investing directly in the top tier financial inclusion institutions providing financial products and services to client group below the middle class in Latin America, Asia and Africa. Currently there are two funds in operational stage:

  • Danish Microfinance Partners K/S
  • Maj Invest Financial Inclusion Fund II K/S

    The third fund under the same strategy has been established and has entered fund raising stage with expected first closing at March 2019

  • Maj Invest Financial Inclusion Fund III K/S

    In June 2015 Maj Invest established the Maj Invest Financial Inclusion Fund II K/S and has since 2010 managed the fund Danish Microfinance Partners K/S in cooperation with the Danish pension funds PKA and PBU. The Investment Fund for Developing Countries (IFU) functions as lead consultant besides being an investor.