The Hindu Business Line : SKS Microfinance plans expansion

The Hyderabad-based SKS Microfinance is planning to launch microfinance services in urban colonies of Nagpur and Pune this fiscal. "We have extended collateral-free loans to two lakh women in rural and semi-urban Maharashtra. Our urban pilot has been a success and we are ready to roll it out across urban colonies in Nagpur and Pune," Mr K.V. Rao, Vice- President (Member Services), SKS Microfinance, said in a release.

The pilot was conducted Nandanvan branch in Nagpur where 3,695 members had opted for loans worth Rs.4.5 crore since November, 2007. `SKS would open nine new urban microfinance branches in Nagpur and 12 in Pune by next financial year. On an average, 5,000-8,000 members would be covered by every urban microfinance branch, he added. - Our Bureau

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