Good news for micro finance borrowers in Andhra Pradesh. A consortium of 5 banks along with State and Central government will soon start a exclusive micro finance bank, which will offer loans at 12-14% p.a. much lower than the rate charged by the NBFC -MFIs. The bank may start functioning from the third quarter of this fiscal. The same model can be replicated in other states, which will benefit millions of micro finance borrowers, who are borrowing at very high rate of interest from micro finance companies like SKS Micro. FIRST CHOICE IPO.
A MICRO FINANCE BANK WILL SHORT-CIRCUIT SKS GROWTH STORY(1 post)
Posted 5 years ago #
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