Bharat Financial Inclusion has assigned two pools of receivables of an aggregative value of Rs 1,391 crore, on 23 March 2018 with a leading public sector bank and a leading private sector bank on direct assignment basis as per the guidelines of the Reserve Bank of India.
With these transactions, the company has completed six direct assignment transactions worth Rs 3,328.32 crore in FY18.
Bharat Financial Inclusion (formerly known as SKS Microfinance) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. The company's mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.
