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Microlenders see sharp rise in funding

'Earlier, Bandhan used to absorb a significant amount of priority sector lending by banks. Now that it is no longer an MFI, a lot more of bank funding is available for MFIs'

Namrata Acharya  |  Kolkata 

With Bandhan now a bank, and a number of microfinance institutions (MFIs) set to become small finance banks, smaller microfinance institutions are witnessing a sharp rise in bank funding.   For example, Kolkata-based Village Financial Services has got bank funding of around Rs 180 crore so far this financial year, against Rs 80 crore in the previous one. Arohan, another Kolkata-based MFI, expects its bank funding to go up from around Rs 350 crore last year to about Rs 600 crore this year, a rise of 71 per cent. Between the first and second quarter of the current financial year, ...

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First Published: Sat, February 06 2016. 21:56 IST
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