Comments
Odisha-based Annapurna Finance on Thursday announced equity infusion of $20 million (about ₹150 crore) from DEG, a Germany-based development finance institution.
The investment by DEG would be used to further boost financial inclusion objectives, thereby increasing the number of women borrowers in rural India, the microlender said in a statement.
In March 2021, Annapurna Finance had raised $30 million (capital investment) from Nuveen Global Impact Fund, per the statement.
Also see: RBI tweak will lead to more NPAs for non-banking lenders: ICRA
Gobinda Chandra Pattanaik, Managing Director, Annapurna Finance, said, “DEG’s investment would only help us further, to meet our goal to provide easy credit access to unserved rural population in the country.”
Annapurna Finance had a gross loan portfolio of ₹5,128 crores as on September-end 2021, and its microfinance operations are widespread in 336 districts across 19 States, the NBFC-MFI (non-banking finance company–microfinance institution) said in a statement.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.