Chaitanya India Fin Credit

What Chaitanya India Fin Credit does

Chaitanya India Fin Credit Private Limited (CIFCPL) was a Non-Banking Financial Company – Micro Finance Institution (NBFC-MFI) headquartered in Bangalore, India, founded in 2009. The firm extended microcredit to underbanked and income-generating borrower segments typically underserved by traditional banks, operating within the RBI-regulated NBFC-MFI framework that specifies borrower income eligibility, lending caps, and capital adequacy requirements.

The company was originally part of the Navi Group before being acquired by Svatantra Microfin in November 2023 in a transaction that began a multi-stage integration. This culminated in March 2026 when the National Company Law Tribunal approved a formal three-way merger of Svatantra Microfin, Chaitanya India Fin Credit, and Svatantra Holding. Post-merger, Chaitanya no longer operates as a standalone entity; its operations, branches, and customer book have been absorbed into Svatantra Microfin, which now operates as India's second-largest NBFC-MFI with approximately Rs 22,000 crore in Assets Under Management, 2,200 branches across 20 Indian states, and a customer base of roughly 5 million borrowers.

The revenue model was characteristic of Indian microfinance: interest income on small-ticket, typically group-liability or joint-liability loans to women borrowers in rural and semi-urban geographies, with funding sourced from a mix of bank borrowings, NBFC lines, and capital markets instruments. A 2018 funding round featured Northern Arc, a domestic debt capital provider to the financial inclusion sector. Detailed product pricing, ticket-size structure, yield, and portfolio-at-risk metrics for the standalone entity are not disclosed in the available data.

Name

Chaitanya India Fin Credit

Legal name

Chaitanya India Fin Credit Private Limited

Website

https://chaitanyaindia.in

Company type

Private

Founded year

2009

Operating status

Acquired

Headcount range

5,001–10,000 employees

Short description

Chaitanya India Fin Credit was an Indian NBFC-MFI that extended small-ticket microcredit to underbanked borrowers, primarily in rural and semi-urban areas. Now merged into Svatantra Microfin, it is part of India's second-largest MFI platform serving ~5 million customers across 20 states.

Ownership category

akta.pro rank

Product category

Microfinance Services

NAICS

Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)

akta.pro primary industry

Microenterprise Group Lending (Joint Liability) (FSAKAGAH)

Keywords

• Microfinance services
• NBFC lending
• Rural credit
• Financial inclusion
• Small-ticket loans

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure

Core offering

Chaitanya India Fin Credit Private Limited (CIFCPL) is an Indian Non-Banking Financial Company – Micro Finance Institution (NBFC-MFI) that provides small-ticket credit and microfinance loans to underserved and low-income borrowers, primarily in rural and semi-urban areas. Following acquisition by Svatantra Microfin in November 2023 and NCLT-approved merger in March 2026, it now operates as part of Svatantra Microfin, the combined entity managing approximately Rs 22,000 crore in Assets Under Management across 2,200 branches in 20 states serving around 5 million customers.

Product overview

Chaitanya India Fin Credit was a microfinance NBFC (Non-Banking Financial Company - Micro Finance Institution) operating in India. It was acquired by Svatantra Microfin in November 2023 through a multi-stage integration process, with the merger receiving National Company Law Tribunal approval. Following the acquisition, Chaitanya India Fin Credit ceased to operate as an independent entity and became part of Svatantra Microfin's combined operations, which manage approximately Rs 22,000 crore in Assets Under Management. No standalone product portfolio or service offerings for Chaitanya India Fin Credit are available in the source data.

Differentiator

Problem solved

Functional benefit

Products and services

• Microfinance Loan Products

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Svatantra MicrofincoreOthers · 23 March 2026Svatantra Microfin completed its merger with Chaitanya India Fin Credit and Svatantra Holding after receiving approval from the National Company Law Tribunal. The combined entity became India's second-largest NBFC-MFI. This transaction marked the culmination of a multi-stage integration process that began with Svatantra's acquisition of CIFCPL from the Navi Group in November 2023.

Scale indicators3 records

Recent moves3 records

Expansion highlights3 records

Direct peers

• Asirvad Microfinance: Chennai-based NBFC-MFI offering microfinance loans and allied financial services to underserved segments. A direct peer in product offering and target customer base.
• CreditAccess Grameen: India's largest NBFC-MFI by AUM, providing microfinance loans primarily to women in rural and semi-urban areas. Closely comparable to Chaitanya/Svatantra in business model, customer segment, and geographic focus.
• Fusion Microfinance: NBFC-MFI providing microcredit to women borrowers in rural India. Comparable scale and operating model to the Chaitanya/Svatantra combined entity.
• Spandana Sphoorty Financial: Listed Indian NBFC-MFI offering joint liability group loans to low-income women. Direct competitor in the microfinance segment with similar loan products and customer profiles.
• Svatantra Microfin: Direct parent and merger partner of Chaitanya India Fin Credit. A leading NBFC-MFI with a similar focus on financial inclusion and microenterprise lending, now operating as the combined entity.
• Satin Creditcare Network: Listed Indian microfinance institution providing group and individual loans to underserved women. Direct competitor in the NBFC-MFI space with comparable product offerings.
• Muthoot Microfin: Part of the Muthoot Group, this NBFC-MFI provides microcredit to women entrepreneurs in India. Operates in the same regulatory and product category as Chaitanya.

Broad incumbents

• Jana Small Finance Bank: Small Finance Bank focused on financial inclusion with a strong microfinance heritage. Operates in the same underbanked segment as Chaitanya but with broader banking licenses.
• Bandhan Bank: Universal bank that originated as a microfinance institution and continues to serve the same underbanked segment. Broader product portfolio but overlapping target market with Chaitanya.
• Ujjivan Small Finance Bank: Small Finance Bank with roots in microfinance, serving micro-borrowers and small businesses. Comparable customer segment but with deposit-taking capabilities and broader product range.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chaitanya India Fin Credit