Satin Creditcare Network Ltd, one of India’s largest microfinance companies, said it has received an investment of Rs 80 cr from US-based hedgefund Kora Management. Kora’s investment is part of the latest funding of Rs 205 that the company raised from institutional investors that also included the promoters of IndusInd Bank and NMI, an existing […]
Bharat Financial Inclusion, formerly known as SKS Microfinance, said it has entered into exclusive discussion with IndusInd Bank on a potential “strategic combination by way of amalgamation through a scheme of arrangement, or any other suitable structure.” SKS Microfinance is a non-banking finance company (NBFC) was founded in 1997 by Vikram Akula, who served as […]
SKS Microfinance Limited cut its lending rate by 1% to19.75% per year for all future disbursals. “With this, the Company becomes the first micro finance institution to charge a sub-20% interest rate on its core Income Generating Loans (IGL) which are unsecured micro loans. Interest rate of 19.75% is the lowest rate charged by any […]
Bangalore-based Ujjivan Financial Services has become the first microfinance institution in India to raise funds directly from mutual funds, and that too one of the largest mutual funds in India. It raised Rs 50 cr from an unnamed mutual fund by placing ‘commercial paper’ (a kind of debt). “This is the first CP issuance by […]
SKS Microfinance Limited today announced that its gross loan portfolio excluding the states of Andhra Pradesh and Telangana registered a 15% quarter-on-quarter growth to Rs. 4,797 crore in Q1-FY16. Loan disbursements increased by 105% on a year-on-year basis to Rs. 2,377 crore in Q1-FY16 (Rs. 1,160 crore in Q1-FY15). During the quarter, the Company had […]
