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.
Microfinance institutions (MFIs) in the country have reportedly started scrutinising the investment of their large borrowers following the Saradha chit-fund scam. While so far MFIs were verifying the client profile mostly through word-of-mouth from group members, now they are seeking data on investments from borrowers who invested in multi-level-marketing (MLM) companies. Som
Reports suggest that some microfinance institutions (MFIs) like Cashpor and Utkarsh are successfully meeting the financial service needs of rural areas in north India, especially Bihar and Uttar Pradesh. Some reports suggest that in the next few years, people in Eastern Uttar Pradesh and Northern Bihar will have