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Wednesday, October 28, 2015

MUDRA sanctions Rs. 100 cr refinance to SKS Microfin; scrip zooms 5.52%

Micro Units Development and Refinance Agency Ltd (MUDRA) has sanctioned a refinance line of Rs. 100 crore for SKS Microfinance at 10 per cent interest per annum.

"This is the first refinance line availed by us,'' S Dilli Raj, President of SKS Microfinance said in a release issued here on Wednesday.

At a rate of 10 per cent, this was lower than the regular term loans from conventional lenders. ``We are already the lowest cost lender in MFI segment,'' he added.

The development is expected to bring down the cost of interest bearing liabilities for SKS, the only listed MFI in the country.

SKS scrip gained 5.52 per cent on the Bombay Stock Exchange after opening of the trade and was trading at Rs. 422.25.

Source : Thehindubusinessline


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