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SKS Microfinance Ltd has completed securitisation of Rs 81 crore in receivables. The company had “downloaded the receivables from micro loans extended to 100,850 rural women entrepreneurs to a Special Purpose Vehicle, and Pass Through Certificates have been purchased by a major private sector bank,” said a release.
The entire pool qualified for priority sector treatment according to Reserve Bank of India’s priority sector lending guidelines. About 30 per cent of the pool was from Scheduled Caste and Scheduled Tribe entrepreneurs, 16 per cent from minorities, 37 per cent from Backward Castes and the remaining 17 per cent from women belonging to other castes, it added.
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