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 554 CARE A+; Stable (Single A Plus; Outlook: Stable)
Debt-Subordinate Debt 85
ICRA Debt-Subordinate Debt 32 [ICRA] A+(Stable); upgraded from [ICRA]A (Stable)

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 Financial Inclusion Fund II K/S

Maj Invest is a Danish asset management company with about USD 17 billion under management, pro­viding services in asset management and private eq­uity. With headquar­ters in Copenhagen, Denmark, the company employs about 107 highly skilled professionals worldwide. Maj Invest was founded more than 15 years ago and is fully owned by management and employees. The financial inclusion business area is one of several business areas of Maj Invest and operates on Maj Invest’s regulated institu­tional platform with its own dedicated team supported by the legal, financial and administrative departments. The financial inclusion team of eleven people is based in Copenhagen and in regional offices in Lima, Peru and Mumbai, India.

Maj Invest Financial Inclusion Fund II K/S (Fund II), was established in 2015 and has invested in seven companies around the globe.