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Save Solutions acquires New Habitat Housing Finance

Save Solutions caters to customers through a dedicated network of Customer Service Points across rural and semi-urban areas. (Photo: Mint)Premium
Save Solutions caters to customers through a dedicated network of Customer Service Points across rural and semi-urban areas. (Photo: Mint)

  • Save Solutions was founded in 2010 by Ajeet Kumar Singh, Pankaj Kumar, and Ajay Kumar Sinha. The company caters to customers through a dedicated network of Customer Service Points across rural and semi-urban areas. The group is backed by impact investors Incofin and MAJ invest

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MUMBAI: Making rapid advances within the industry, one of India’s largest business correspondent networks, Save Solutions, on Friday said it has acquired New Habitat Housing Finance And Development Ltd for 74 crore.

The Bihar-headquartered company is working to offer its customers all-around financial products by also adding housing loans to the equation. Besides Bihar, the company will extend its reach to other states including Delhi-NCR and UP.

Ajeet Kumar Singh, founder director, MD & CEO, Save Solutions, said, “The acquisition brings our company to a full-circle. Save Solutions excels in offering all banking and financial products under one roof to rural and semi-urban people. Through the acquisition of housing finance company New Habitat, we are on the fast track to becoming a full-spectrum Financial Inclusion group. It will go a long way in expanding our offering to underserved clients."

Save Solutions was founded in 2010 by Ajeet Kumar Singh, Pankaj Kumar, and Ajay Kumar Sinha. The company caters to customers through a dedicated network of Customer Service Points (CSPs) across rural and semi-urban areas. The group is backed by impact investors Incofin and MAJ invest.

Save Solutions works with banks such as State Bank of India, Bank of India, Bank of Baroda, Jharkhand Rajya Gramin Bank, Baroda UP Bank and Punjab National Bank. It is also a co-lending partner with State Bank of India.

Save Solutions currently has products in MSME, LAP (loan against property) and micro finance.

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