Satin Creditcare Network has assigned three pools of receivables of an aggregate value of Rs 755 crore to banks on a Direct Assignment basis as per the guidelines prescribed by the Reserve Bank of India.
With these transactions, the company has completed Direct Assignment transactions worth Rs 975 crore in FY 19. The fund raised will be used for further growth in Asset under Management (AUM) of the company.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.