Money & Banking

Asirvad Microfinance securitises MF portfolio

PTI | | Updated on: Dec 06, 2021

A woman holds the loan she has received, a stack of rupee bills, during a meeting organized by SKS Microfinance Ltd. in Sadasivpet, India, on Friday, Aug. 6, 2010. SKS provides loans from $22 to $260 each for women raising cows or opening a village tea stall in a nation where 828 million people live on less than $2 a day. Photographer: Adeel Halim/Bloomberg

Currently, it serves to 1.6 million women members through its 930 branches across India

Asirvad Microfinance Ltd, the microfinance subsidiary of Kerala-based Manappuram Finance Ltd, on Wednesday said it has securitised its microfinance portfolio amounting to ₹250 crore with a public sector bank.

This securitisation held last month, is the eighth tranche for the current financial year and the total pool securitised with different bank amounts to ₹611 crore, a press release said.

The company has raised funds through term loans from banks and leading non-banking finance companies and also signed securitisation deals with banks, it said.

Asirvad Microfinance currently serves to 1.6 million women members through its 930 branches across the country.

Published on January 09, 2019
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