Satin Creditcare plans to demerge small and medium finance unit into NBFC

Satin Creditcare, the third-largest microfinance company in India, plans to demerge its small and medium finance vertical into a separate non-banking finance company (NBFC). Recently, it had demerged its housing finance business into a separate NBFC. 

The microfinance institution (MFI) has already applied for a licence for SME lending to the Reserve Bank of India. So far, the firm has raised debt of about Rs 30 billion in FY19. It also entered into an assignment transaction of about Rs 2 billion with the State Bank of India. 

SBI had earlier announced to buy assets worth Rs 450 billion from NBFCs to support