Manappuram Finance has secured a debt funding of Rs 695 crore from NABARD. The said funding will be used for priority sector lending. The company will deploy the funds for onward lending to micro, small and medium enterprises (MSMEs) and microfinance sector under priority sector lending.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.