New Opportunity Consultancy Pvt. Ltd. (NOCPL) Market Research Report

Background

Company Overview

New Opportunity Consultancy Pvt. Ltd. (NOCPL) is a private limited company incorporated under the Indian Companies Act, 2013. Established in 2014, NOCPL operates as a Business Correspondent, partnering with multiple banks and Non-Banking Financial Companies (NBFCs) in India to provide a range of financial services. These services include micro-loans under the Self-Help Group (SHG) and Joint Liability Group (JLG) models, credit-linked insurance, and individual and group-based savings accounts. The company is committed to delivering financial products and services in a reliable, cost-effective, and transparent manner.

Mission and Vision

• Mission: To serve 5 million customers by 2025.

• Vision: Empowerment of women through financial inclusion and services in a reliable, cost-effective, and transparent manner.

Industry Significance

NOCPL plays a pivotal role in advancing financial inclusion in India, particularly among underserved communities. By acting as a Business Correspondent, the company extends the reach of traditional banking services to remote areas, thereby fostering economic growth and stability.

Key Strategic Focus

Core Objectives

• Financial Inclusion: Expand access to financial services for underserved populations.

• Empowerment: Enhance the economic status of women through tailored financial products.

• Sustainable Livelihoods: Provide access to livelihood skills and technical training to improve income-generating opportunities.

Areas of Specialization

• Microfinance: Offering micro-loans to SHGs and JLGs.

• Insurance: Providing credit-linked insurance products.

• Savings Accounts: Facilitating individual and group-based savings accounts.

Key Technologies Utilized

• Digital Onboarding: Utilizing mobile platforms for KYC and loan processing.

• Financial Literacy Tools: Employing audio-visual content to educate borrowers.

• Digital Payments: Implementing mobile-linked auto receipts and digital payment options.

Primary Markets Targeted

• Geographical Focus: Rural and semi-urban regions across India.

• Demographics: Predominantly women and small-scale entrepreneurs.

Financials and Funding

Funding History

As of the latest available data, NOCPL has secured significant funding to support its operations and expansion plans. The company has a promoter holding of 93.33% and a public holding of 6.67%. The authorized share capital is ₹6.60 crore, with a paid-up capital of ₹5.36 crore. The company has active open charges totaling ₹31.75 crore and has closed loans amounting to ₹141.11 crore.

Utilization of Capital

The raised capital is primarily allocated towards:

• Operational Expansion: Establishing new branches and enhancing service delivery.

• Technological Advancements: Developing and implementing digital platforms for efficient service provision.

• Financial Product Development: Creating and offering new financial products tailored to customer needs.

Pipeline Development

Key Initiatives

• Digital Onboarding Process: Streamlining the loan application process through mobile platforms, enabling instant loan sanctioning.

• Financial Literacy Programs: Developing educational content to enhance borrower understanding of financial products and services.

• Savings Account Integration: Facilitating easy access to savings accounts with features like M-ATM for convenient withdrawals.

Anticipated Milestones

• 2025 Goal: Achieve a customer base of 5 million.

• Ongoing: Continuous expansion of service coverage across additional states and districts.

Technological Platform and Innovation

Proprietary Technologies

• Digital Loan Processing System: A mobile-based platform for KYC, credit assessment, and loan disbursement.

• Financial Literacy Modules: Interactive audio-visual content designed to educate borrowers on financial management.

Significant Scientific Methods

• Data Analytics: Utilizing data-driven insights to assess creditworthiness and tailor financial products.

• Mobile Banking Solutions: Implementing mobile banking features to enhance accessibility and convenience for customers.

Leadership Team

Executive Profiles

• Ganesh Rao: Managing Director & CEO

• Background: Over two decades in the banking and financial sector, including roles at Cholamandalam, GE Capital, and DCB Bank. Co-founded Suryoday Microfinance in 2009.

• Role at NOCPL: Leads strategic direction and overall operations.

• Sivakumar J. R.: Chief Operating Officer - South

• Background: Post-graduate in Economics with over 15 years in the financial sector. Previously Business Head at Indian Association for Savings and Credit (IASC).

• Role at NOCPL: Oversees operations in southern regions, ensuring effective service delivery.

• Pradeepta Kishore Dash: Chief-Audit and Compliance

• Background: 20 years in banking and finance, with leadership roles at TATA Finance Ltd., ICICI Bank, and HDFC Bank.

• Role at NOCPL: Ensures adherence to regulatory standards and internal audits.

• R. Loganathan: Chief Financial Officer

• Background: Post-graduate in IT with over 15 years in the financial sector. Former CFO at IASC.

• Role at NOCPL: Manages financial operations and strategic financial planning.

• Ravi K. Tuli: Chief Operating Officer – West

• Background: Management graduate with 22 years in the automobile, insurance, and financial sectors. Experience at Cholamandalam, DCB Bank, and Bharti Axa.

• Role at NOCPL: Leads operations in western regions, focusing on business growth and customer engagement.

• Badrinath Jyoti: Chief Operating Officer – East

• Background: 18 years in banking and microfinance, with leadership roles at HDFC Bank, L&T, and SAVE Microfinance.

• Role at NOCPL: Oversees eastern operations, ensuring service excellence and regional expansion.

• Payodhi Mishra: Chief Technology Officer

• Background: MBA in IT & Systems with over 15 years in project management and technology implementation. Experience at Larsen & Toubro and FINO Paytech.

• Role at NOCPL: Drives technological innovation and digital transformation initiatives.

• Meenakshi Rao: Head - HR

• Background: Management graduate and certified yoga coach with a focus on human development and inclusive society.

• Role at NOCPL: Manages human resources, fostering a positive and productive work environment.

• Chandra Mohan V.: Head: Quality & Operations

• Background: Science graduate with 15 years in NBFCs, including roles at Bajaj Auto Finance and Fullerton India.

• Role at NOCPL: Ensures operational efficiency and quality standards across services.

• Pradip Kundu: Head – Risk & Policy

• Background: Honors graduate in Economics with 36 years at IDBI and IDBI Bank, specializing in customer service and bond issuances.

• Role at NOCPL: Manages risk assessment and policy development to mitigate operational risks.

• Sunil S. Chavan: Head - Liability Products

• Background: Bachelor of Commerce with certifications in banking and MSME financing. 37 years in banking, including roles at Central Bank of India.

• Role at NOCPL: Oversees liability products, focusing on savings and insurance offerings.

• Suvarnalata Gurav: