Mumbai, February 28, 2012:
Online PR News – 02-March-2012 – – Religare Finvest Ltd. (RFL), one of India’s largest capitalized NBFCs and a subsidiary of Religare Enterprises Limited, has been awarded with ISO 9001:2008 certification by BSI, a leading global independent business services organization, for its customer-focused Central Processing Unit, Customer Service and Information Technology Functions.
This development is a great milestonefor RFL as it continues to build out a best of breedSmall and Medium Enterprises(SME)- focused lending business model. RFL provides debt capital to SMEs in the form of loans against property, working capital loans, loans against plant &machinery, vehicles and construction equipment and loan against marketable securities among others. Religare Finvest currently hasover20000 SME customers and close to 34000 liveSME accounts and its loan book stands at more than INR 12,147.07crores (as on December 31, 2011).The company had completed a successful NCD issue and has raised capital from two private equity players in the recent past- Avigo Capital in November 2011 and Jacob Ballas in January 2012.
Commenting on this development, Mr. Kavi Arora, Managing Director &CEO, Religare Finvest Ltd said: “It is indeed a proud moment for us to receive this prestigious and coveted certification from BSI for three of our processes in one go. This will no doubt encourage us to set our standards even higher in line with international best practices and benchmarks”
Adding to this, Mr. Venkataram Arabolu, Managing Director, BSI Group- India, said “ISO 9001 is by far the world’s most established quality framework and sets the standard not only for quality management systems, but management systems in general. We are pleased to see that the processes implemented by Religare Finvest Ltd. are in sync with the criteria and we are delighted to award the ISO 9001:2008 Certification to them for the excellent implementation, that goes beyond the basic standards.”
About Religare Finvest Ltd –www.religarefinvest.com
Religare Finvest Ltd. (“RFL”) is a Systemically Important Non-Deposit Accepting NBFC, focusing on small and medium enterprises (“SME”) financing and capital market financing. Through its reach and focus on the SME segment and the broad product offering, RFL provides the debt capital to power the growth of the small and medium enterprise. RFL’s lending products aimed at providing financing to the SME segment include:
· Loans against property
· Working capital loans
· Loans against plant & machinery
· Loans for Commercial vehicles & construction equipment
· Loan against Marketable Securities
About BSI Group - www.bsigroup.co.in
Since its foundation in 1901, BSI Group has grown into a leading global independent business services organization that inspires confidence and delivers assurance to customers with standards-based solutions. Originating as the world’s first national standards body, the Group has over 2,250 staff operating in over 100 countries through more than 50 global offices. The Group’s key offerings include:
· The development and sale of private, national and international standards and supporting information, having created 8 of the top 10 Management Systems standards of the world.
· Second and third-party management systems assessment and certification
· Testing and certification of products and services
· Performance management software solutions
· Training services in support of standards implementation and business best practice.
For further information, please contact:
Director- Brand & Corporate Communications
Religare Enterprises Limited
T: +91 11 39126165
M: +91 9910993925
Brand & Corporate Communications
Religare Enterprises Limited
T: + 91 11 39126189
M: +91 9958620707
M: +91 9820006943
B N Kumar