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Bharat Financial Inclusion Ltd.

BSE: 533228 Sector: Financials
NSE: BHARATFIN ISIN Code: INE180K01011
BSE LIVE 15:40 | 28 Jul 845.95 26.00
(3.17%)
OPEN

820.00

HIGH

852.90

LOW

817.60

NSE 15:57 | 28 Jul 849.05 30.55
(3.73%)
OPEN

821.45

HIGH

855.80

LOW

816.00

OPEN 820.00
PREVIOUS CLOSE 819.95
VOLUME 321763
52-Week high 938.75
52-Week low 465.40
P/E 699.13
Mkt Cap.(Rs cr) 11,677
Buy Price 848.05
Buy Qty 40.00
Sell Price 0.00
Sell Qty 0.00
OPEN 820.00
CLOSE 819.95
VOLUME 321763
52-Week high 938.75
52-Week low 465.40
P/E 699.13
Mkt Cap.(Rs cr) 11,677
Buy Price 848.05
Buy Qty 40.00
Sell Price 0.00
Sell Qty 0.00

Bharat Financial Inclusion Ltd. (BHARATFIN) - Company History

SKS Microfinance Ltd is the largest MFI in India in terms of total value of loans outstanding, number of borrowers, who we call members, and number of branches. The company is a non-banking finance company, or NBFC, registered with and regulated by the Reserve Bank of India, or RBI. They are engaged in providing microfinance services to women in the lower income segment predominantly located in rural areas in India. The company's core business is providing small loans exclusively to poor women predominantly located in rural areas in India. These loans are provided to such members essentially for use in their small businesses or other income generating activities and not for personal consumption. The company has designed and deployed a web-based Business Intelligence portal using state-of-art technology and a highly flexible and scalable platform to support the business growth and operations. They have also built an integrated and encrypted MPLS communication network encompassing a world class Data Centre delivering mission critical services and enhancing collaboration across the organisation, thus ensuring superior service quality to their customers. SKS Microfinance Ltd was incorporated on September 22, 2003 as a private limited company with the name as SKS Microfinance Pvt Ltd. In January 20, 2005, the company obtained a certificate of registration from the RBI to commence the business of a non-banking financial institution without accepting public deposits. In September 1, 2005, the company transferred all assets and properties, pursuant to a MoU including the existing loans and receivables in relation to micro finance activities from SKS Society. SKS Society was earlier engaged in microfinance. In May 2, 2009, the company was converted into a public limited company and the name was changed to SKS Microfinance Ltd. In January 18, 2010, the company entered into an agreement with HDFC Technology license and service usage for undertaking housing finance activities. In February 3, 2010, the company made a tie up with State Bank of India, State Bank of Hyderabad and State Bank of Mysore for online integration of 585 branch bank accounts of the company through CMS. In February 10, 2010, they entered into an MoU with Future Group for purchase of supplies by kirana stores on a wholesale basis located in and around New Delhi.