Microfinance institutions to raise Rs 20,000 cr in 18 months
Updated: Jul 10, 2015 04:23:07pm
Mumbai, Jul 10 (KNN) India’s microfinance institutions planned to raise incremental capital of around Rs 20,000 crore over the next 18 months, according to Microfinance Institutions Network.
Vice president of MFIN R Bhaskar Babu on the sidelines of an MFI event on Thursday said that these institutions will be raising around Rs 15,000 through banks in the current fiscal. About Rs 2,000 crore will come from private equity and other multilateral institutions like International Finance Corporation (IFC).
He said that micro-lenders will also raise Rs 2,000 crore to Rs 3,000 crore by way of issuing non-convertible debentures (NCDs) over the next 18 months.
According to a report by MFIN, the gross loan portfolio grew 61 per cent to Rs 40,000 crore in FY15. MFIs attracted 84 per cent more debt funding in FY15 compared with previous fiscal year.
Total disbursement in the previous fiscal year grew 55 per cent. (KNN Bureau)
Vice president of MFIN R Bhaskar Babu on the sidelines of an MFI event on Thursday said that these institutions will be raising around Rs 15,000 through banks in the current fiscal. About Rs 2,000 crore will come from private equity and other multilateral institutions like International Finance Corporation (IFC).
He said that micro-lenders will also raise Rs 2,000 crore to Rs 3,000 crore by way of issuing non-convertible debentures (NCDs) over the next 18 months.
According to a report by MFIN, the gross loan portfolio grew 61 per cent to Rs 40,000 crore in FY15. MFIs attracted 84 per cent more debt funding in FY15 compared with previous fiscal year.
Total disbursement in the previous fiscal year grew 55 per cent. (KNN Bureau)
Loading...
