Tag: Mr. Joby C O

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Dvara Kgfs Receives The Long-Term Rating Of ‘Acuite A-’ By Acuité Ratings & Research Limited! ~This rating reinforces the strength of Dvara in meeting all

Jun 21, 2021 by Rekha Nair 0 Comments #Chief Executive Officer, #Chief Financial Officer, #DVARA KGFS, #Mr Vijayakumar G, #Mr. Joby C O

Dvara Kgfs Receives The Long-Term Rating Of ‘Acuite A-’ By Acuité Ratings & Research Limited! ~This rating reinforces the strength of Dvara in meeting allMumbai: Acuité Ratings & Research Limited, a SEBI registered and RBI accredited credit rating agency, assigns the long-term rating of ‘ACUITE A-’ (read as ACUITE A minus) on the facilities of Dvara Kshetriya Gramin Financial Services Private Limited (Dvara KGFS) with the outlook on the long-term rating set at stable.

The rating factors in all the continuous support of founder-promoter Dvara Trust (erstwhile IFMR Trust) and also takes into consideration Dvara KGFS’s established presence in its areas of operations and demonstrated growth of its AUM which stood at Rs. 1,107.79 Cr. as on March 31, 2021. The company has maintained a conservative leverage of 3 times as on March 31, 2021.

Commenting on the rating, Mr. Joby C O, Chief Executive Officer, Dvara KGFS, said “‘Acuite A-‘ rating by Acuité Ratings & Research Limited reinforces the trust reposed on Dvara KGFS by various lenders both domestic and foreign. It is truly a proud moment for Dvara KGFS to upgrade the ratings to A- and hopes it help us to broad base our fund raising to more lenders with more competitive rates.“

Highlighting the importance of the upgrade, Mr. Vijayakumar G, Chief Financial Officer, Dvara KGFS, said, “We see Liquidity flow for the NBFC’s should be continuous and this rating upgrade to A- during these difficult times would give the company more access into capital markets resulting in reduction of cost of funds during FY22.”

Business World

Post budget reaction quote on NBFCs from Mr. Joby. C. O., CEO, Dvara KGFS

Feb 3, 2021 by Neel Achary 0 Comments #CEO, #DVARA KGFS, #Mr. Joby C O

Mr. Joby. C. O., CEO, Dvara KGFS:

“The Union Budget 2021 has acknowledged the NBFC and cooperatives that are operating in the agricultural credit space. The government’s initiative to bring in mechanisms to monitor the health of financial institutions, to set up Asset Reconstruction Company Limited and Asset Management Company and to safeguard the interest of depositors are welcome steps towards a robust banking mechanism. In addition to this, the increase in agriculture credit target, increased allocation towards MSME sector & increased focus on Migrant Workers & Labourers in the Budget is expected to be highly beneficial for NBFCs and MFIs. Better capital access, improved governance and enhanced lending mechanisms are some of the key focus areas in the budget and this will enable financial institutions to bring in transparency and accountability in the sector. Banking reforms will go a long way in addressing bad loans, capital infusion, development of FinTechs and support for NBFCs. Promotion of digital transactions & continued focus on financial inclusion are two key pillars in the Budget that will outline the financial landscape for the underserved sections in the society.”

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DVARA KGFS LAUNCHED E-SIGNATURES FOR ITS CUSTOMERS

Jan 20, 2021 by Rekha Nair 0 Comments #CEO, #Deputy CEO, #DVARA KGFS, #Mr. Joby C O, #Mr. Murty LVLN

Mumbai/Hyderabad: Dvara KGFS, a leading technology backed NBFC in India, with a mission to maximize the financial well-being of every individual and every enterprise in rural India has recently launched a new innovative feature – e-signature which enables hassle free documentation to access loans while ensuring pandemic related safety protocols.

Bringing about a paradigm shift the way customers apply for loans, KGFS Assist (Front end app built by KGFS in-house technology team) has introduced E-signatures enabling complete ease in applying and processing of loans from the convenience of their homes and from their own hand-held device thereby eliminating the cumbersome process of fixing signatures, uploading documents on ERP, etc. which required extensive manual interventions.

 Speaking about JLG and MEL Turn Around Time (TAT), Mr. Murty LVLN, Deputy CEO, Dvara KGFS, “With deep understanding of the market, we have been able to reduce the TAT substantially to 4 days and to 2 days respectively. This has resulted in easing of the loan disbursement and enrollment process and resulting in more people benefitting as well as setting new benchmarks in our internal process.”

KGFS Assist is an internally built customer centric app with huge integration capability with various vendors that supports Dvara KGFS with innovative solutions to ensure the end customers is benefitted in the best possible way.

Speaking on the introduction of the new feature, Mr. Joby C O, CEO, Dvara KGFS said, “We, at Dvara KGFS, have associated with Legality to integrate e-sign feature to KGFS Assist, the in-house enrollment app, to ease the loan approval process. A simple, seamless and time-saving innovative feature – e-signature was introduced recently to ensure continuity of services for our customers through our seamless adoption of technology. This new e-signature feature has helped in maintaining records of all loan documents in soft format, eliminating the need to store the physical documents thereby ensuring safety and security thus delivering superior customer experience.”

Once the loan documents are approved and uploaded, the branch staff approaches the customer for signatures which is done on a mobile phone / tablet after a 2-step authentication – Mobile OTP and Mobile Signatures. The same signatures are then automatically affixed on the document at respective places. The documents now get stored in the ERP system. However, some legal documents require actual signatures.

This innovation of the e-signature feature has helped our customers to access our products without being exposed to the pandemic and has also resulted in significant savings in time taken for operations as the need for downloading, scanning and uploading documents has been erased.