INSUBCONTINENT EXCLUSIVE:
By-Ashwin ManikandanMumbai: Microfinance company Satin Creditcare Network (SCNL) said its borrowing cost has risen by 75 basis points, or
0.75 percentage points, following the liquidity crisis that plagued non-banking finance companies (NBFCs) over the last couple of
months.
Satin Creditcare chairman HP Singh said there was no major impact on business apart from the rise in fund cost
Our business has been largely unaffected by the ongoing liquidity crunch because banks have not cut our funding
Satin is the second largest NBFC-MFI with Rs 6,000 crore of assets under management
Singh said Satin received 40 per cent of its funding from IndusInd Bank, with whom it had forged a partnership in 2017
The MFI also received funds from NABARD and Bandhan Bank
With 60 per cent of its loan portfolio based on agriculture-related businesses, the MFI is largely looking to capitalise on the growing
Since most of the credit we disburse is being used for economic activities rather than consumption activities, we believe there will be
About 80 per cent of its credit exposure is in the rural economy.
