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SKS Microfinance gets nod to raise FII limit to 74%

21 Dec 2011 Evaluate

SKS Microfinance, India's only-listed micro lender has received an approval from shareholders for raising the investment limit of foreign institutional investors in the company to 74 percent from 24 percent.

Recently, the company was facing collection-related problems in parts of West Bengal and Gujarat due to local and process-related issues. The company had been already hit by the Andhra Pradesh microfinance crisis.

SKS Microfinance is a non-banking finance company (NBFC), registered and regulated by Reserve Bank of India, whose mission is to eradicate poverty by providing financial services to the poor.

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