Governance at Equitas:
We have the highest levels of corporate governance and we religiously follow Clause-49 and the board of directors conducts a peer evaluation of each other.
Right at the time of its inception, we recognized the need to incorporate the highest level of corporate governance for two reasons:
Vulnerable customer profile – Our customer profile is low-income households who do not have access to banks. With limited access to formal finance, these customers could be exploited by players that charge extremely high interest rates or adopt coercive and unlawful practices.
Handling public money – Although we do not accept deposits, we would be availing loans from banks and hence we need to demonstrate additional responsibility in handling public money.
With this perspective in mind, we have made Governance a high priority issue.
Governance Rating for Equitas
We have been recognized and appreciated for our voluntary compliance to the highest levels of corporate governance. CRISIL has provided a Governance & Value Creation (GVC) Rating of GVC Level 2 to Equitas, with only 6 other corporates in India at a higher level. We are the highest Corporate Governance rated among companies based in Tamil Nadu.