NEWS & ADVICE : PERSONAL LOAN
Raised Rs 200 cr by selling loans: SKS Microfinance
By Vaibhav Aggarwal
Nov 7, 2012
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SKS Microfinance has raised around Rs 200 crore by giving loans to a state-run bank through securitization deal.

After the Reserve Bank of India issued revised securitization guidelines for non-banking finance companies, this is the first major deal in the troubled microfinance sector.

Chief Financial officer Mr. S Dilli Raj in the statement said, "The present transaction generates liquidity of Rs 200 crore for SKS Microfinance and also brings in concomitant capital relief".

The company also said that 26 per cent of the raise amount is from the Scheduled Caste and Scheduled tribe entrepreneurs, 58 per cent from women belonging to the Other Backward Castes and the remaining 16 per cent from minorities.


 


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