Hyderabad-based SKS Microfinance has announced that it has become the first microfinance company in the country to provide loans to more than 5 million women.
The landmark was achieved by recently extending a loan worth Rs 10,000 to Anita Devi in Darbhanga district of Bihar, the company stated in a press release here on Tuesday.
“It’s the hard work and discipline of our members who repay us back on time that has helped us grow along with the confidence our investors have in us and the processes and systems that our staff follow diligently. This is also significant since it proves that microfinance can scale up using a for-profit model.” SKS chief operating officer, MR Rao, stated.
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