SKS Microfinance has completed the second securitization transaction in FY15 of Rs 75.00 crore. The first transaction of Rs 316.25 crore was announced by the company on October 21, 2014. With this, the total sum of securitizations completed during FY15 (YTD) is Rs 391.25 crore.
The entire pool qualifies for Priority Sector treatment as per the Reserve Bank of India’s Priority Sector lending guidelines. The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
SKS Microfinance is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates across 16 states of India.