SKS Microfinance up 6% on hopes of easing micro-lending norms
The norms related to net worth, capital adequacy and provisioning needs of MFI may be relaxed in phases
SKS Microfinance is trading higher by 6% at Rs 72.80 on reports that the Reserve Bank of India (RBI) may relax some of the norms pertaining to microfinance institutions.
“The norms related to net worth, capital adequacy and provisioning needs of microfinance institutions (MFI) will be relaxed in phases to help troubled micro-lenders,” the report suggests quoting Dr D. Subbarao, Governor, RBI.
The stock opened at Rs 69 and hit a high of Rs 73 on the National Stock Exchange. A combined 673,055 shares have already changed hands on the counter in morning deals, as against an average around 800,000 shares that were traded daily in past two weeks.