Corrigendum – Bandhan Article

Please refer to the article Bandhan Microfinance to begin lending to smaller MFI’s. Bandhan Microfinance has informed IMBN that the above article which inferred that Bandhan Microfinance is planning to re-lend a part of Rs.350 Crore term loan received from SIDBI to smaller MFI’s in the region is incorrect.

Bandhan Microfinance has clarified that it  shall not on-lend SIDBI’s money to other MFIs. The INR 350 Crore amount which it has received from SIDBI will be used solely for providing microcredit assistance to women borrowers.

We sincerely apologize for the error and the article has been suitably edited to reflect the correct information.
India Microfinance Business News
Bandhan Microfinance
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