Microfinance

SKS Microfinance and ICICI bank conclude securitisation deal

SKS Microfinance, India`s largest and world`s fastest growing microfinance company and ICICI Bank, have completed a securitisation deal worth Rs. 2 billion which allows the bank to purchase loans extended to weaker sections.

SKS Microfinance through its program will deliver income-generating loans of averaging Rs.9,500 to over 200,000 unbanked families belonging to SC, ST and minorities identified by the RBI as “weaker section“ and hence a priority.

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The partnership will be able to combine SKS robust customer acquisition and management model with ICICI`s extensive experience in financial structuring for microfinance institutions, networks and investors in emerging markets to fulfill a shared objective of greater financial inclusion and poverty alleviation through commercially viable and sustainable lending programs.

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