Reserve Bank of India (RBI) has notified that Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) can now invest up to 49% of the paid up capital of Satin Creditcare Network under the Portfolio Investment Scheme (PIS). The company has passed necessary resolution at Board of Directors` level and in its Annual General Meeting for increasing the FII/FPI investment limit under Portfolio Investment Scheme from 24% to 49% of the paid up capital of the company.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the third largest MFI in the country.
