Microfinance

Ujjivan gets debt funding of Rs 100 Crore from SIDBI

Bangalore headquartered Ujjivan Financial Services has announced that it has received debt funding from SIDBI and other public / private sector banks to the tune of Rs 100 Crore over the past few months. Earlier this year in July , Ujjivan had raised Rs 55 Crores through two Non Convertible Debenutre (NCD) issues.

ujjivan

Ujjivan institutes 100% Credit Bureau checks for all loan approvals

To overcome the problems of multiple lending and over-indebtedness of clients , Ujjivan has announced that loan approvals are now being approved only after client background checks  are conducted with credit bureau databases.

Ujjivan signed membership agreements in January 2011 with CIBIL and in February 2011 with Highmark. Ujjivan has also signed up the membership agreement with another Credit Bureau Equifax in the month of July 2011.

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