Back in 2007 when Basel II Bank Loan rating was introduced for the first time in India, for assessing the credit worthiness and evaluation for the companies, as there had been a substantial lack in the number of efficient credit raters in the market. Only large corporate companies that used to opt for bonds and debentures had been doing the rating which is barely 1500 in India.
Corporate companies that had taken credit ratings for first time hardly had any idea about how the credit rating agencies and the systems worked. It was been exigent to make the concept and services clear to the clients as credit rating was been still new and unfamiliar a concept to most corporates. Moreover the lack of knowledge about the key parameters for credit rating left them clueless of what amendments were required in their business models to boost the credit ratings.
FinMen makes sure that clients are liberated of all the problems in the credit rating scenario. We see possibility of success than Probability of Default
Manish Jain, with his profound experience in credit rating with CRISIL, grabbed this opportunity to launch FinMen Consultancy in this sector in 2010. It has been renamed as FinMen Advisors Pvt. Ltd. in 2013. While doing rating of companies during his years of service with CRISIL, Manish has realized that those corporate clients they have been serving were also facing risk issues in this sector. With proficiency in his domain, the young entrepreneur has started providing credit rating and risk management solutions.
Manish believes,“With the dedicated team of experts belongs from ex-rating agencies or big financial institutions, proved to be an important asset in the
growth.” Various services offered include asBasel II Bank Loan Credit Rating, Corporate Instruments Ratings such as Bonds, CP, PTCs, Shadow Rating, SME rating, IPO Grading, RESCO Grading and addressing the key risks associated with credit rating.
“We approach and work on each project with due diligence. We will take up an assignment only after confirming that we can add value to the client. We have a specialized team for taking the decisions regarding accepting an assignment. This is to ensure fruitful delivery of the project,” illustrates Deepak Jain, Execution Director, while talking about the quality of services offered by FinMen.
The excellent and highly professional services have helped over 600companies boost their credit ratings to avail fresh loans and reduced interest costs.The track record has been overwhelmingly outstanding, with 97 percent customer satisfaction. The positive feedbacks have earned the organization a good number of referrals to their kitty. FinMen already has a pan India presence with more than 11 branches in the major cities and aims at adding to the number. The organization is looking forward to diversifying into various other services such as advisory services and management consulting.