India: SKS Microfinance Sells 6.1 billion Rupees Securitised Loans

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Mar 2011
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Mumbai, India, March, 29 2011 - SKS Microfinance, India's largest and only publicly listed microfinance institution, said on Tuesday it sold securitised loans worth 5.5 billion rupees in two tranches to banks.

The company also said it sold securitised loans worth 600 million rupees to a non-banking financial company earlier this month.

"The transactions will further augment the liquidity position of SKS Microfinance, " said Chief Financial Officer S Dilli Raj said, adding such loan markets "had virtually ceased post the AP (Andhra Pradesh) MFI Act."



Source : Reuters
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