New Delhi, 09 October, 2019: Satya MicroCapital Ltd., India’s fastest growing MFI, has recently announced the addition of Mr. Navin Surya as an Independent Director to the company board. This development underlines its mission of unlocking access to advanced digital financial services for the economically underprivileged women entrepreneurs in rural and semi-urban regions in the country.

In a distinguished career spanning more than a decade, Navin has held numerous leadership positions and has pioneered the development of the fintech as well as the digital and retail payment systems space in India. In addition to being the Chairman of Fintech Convergence Council (FCC) – an industry association for innovative fintech entities – he is also the Chairman Emeritus of Payments Council of India (PCI), the only non-bank payment industry association in the country. He received this honorary position in recognition of his ten years of service as PCI’s Chairman. Under the aegis of Internet and Mobile Association of India (IAMAI), both FCC and PCI represent over 700 new-age digital business across sectors including the internet, e-commerce, and digital payments.

Speaking on the association, Mr. Navin Surya commented, “It will be a matter of great pleasure for me to be able to work with Mr. Vivek Tiwari and other eminent board members at Satya MicroCapital. Mr. Tiwari is known in the Indian microfinance industry for his outstanding vision and deft execution. His modest personality is surpassed only by his technological proficiency which reflects in the way he has led Satya MicroCapital to achieve so much in such a short span. Satya MicroCapital's core values of 'Satya' (Truth) and 'Simplicity' are also key factors behind its success. I look forward to contributing towards accelerating the growth trajectory of Satya MicroCapital.”

Mr. Vivek Tiwari, MD & CEO, Satya MicroCapital added, “We are delighted to have the added support and guidance of Mr. Navin Surya. His is a distinguished name in the Indian fintech and digital payments landscape. We are confident that his outstanding industry expertise will help unlock the next levels of growth for Satya MicroCapital. His presence on the company board as an Independent Director will add weight to the momentum we have gained towards achieving our vision of becoming the preferred microfinance institution for the unbanked and underserved rural population in India. We look forward to working with him.”

This development follows close on heels of a string of milestones achieved by Satya MicroCapital this year in the space of digital payments. Most recently, it became the 1^st MFI to cross INR 100 crore worth of digital collections on a pan-India level since its inception. The involvement of Mr. Navin will lend a boost to Satya MicroCapital’s vision of providing convenient, affordable, and collateral-free credit to unbanked and underserved women entrepreneurs in India through digital means.