Spandana Sphoorty Financial informed that it has completed direct assignment of micro-finance loans of Rs 490.23 crore on 30 March 2020.
With this, a total amount of Rs 1,261.96 crore has been raised during the quarter (Q4 FY2019-20) in the form of direct assignment, the company said in an exchange filing made after market hours yesterday.
The entire direct assignment pool qualifies for priority sector treatment as per the guidelines prescribed by the Reserve Bank of India.
Spandana Sphoorty is a fourth largest non-banking financial company - micro finance institution (NBFC-MFI) and the sixth largest amongst NBFC-MFIs and SFBs (small finance banks) in India in terms of AUM with a geographically diversified presence in India. It offers income generation loans under the joint liability group model, predominantly to women from low-income households in rural Areas.
Shares of the microfinance lender ended 5.31% higher to settle at Rs 587.15 on Tuesday, 31 March 2020.
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