Utkarsh Micro Finance, which received license to set up small finance bank, has raised Rs 30 crore in commercial paper, the company said. Ratnakar Bank has invested in the CP issue which will mature in 180 days. The coupon was 10.15 per cent.
Tag: Utkarsh Micro Finance
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Utkarsh may get funding from existing investors
Utkarsh Micro Finance may receive capital infusion from its existing investors in order to support its business expansion plan in the low-income states of Uttar Pradesh and Bihar. International Finance Corporation (IFC), Aavishkaar Fund II and Norwegian Microfinance Initiative are the existing investors in the microfinance