CreditAccess Grameen has completed a Direct Assignment of Rs 132.46 crore on September 30, 2019. This is the second Direct Assignment transaction initiated during the FY 2019-20. With this transaction, the company has completed one securitization and two Direct Assignment transactions totaling to Rs 381.70 crore in FY 2019-20.
The entire Direct Assignment pool qualifies for Priority Sector treatment as per the guidelines prescribed by the Reserve Bank of India.
CreditAccess Grameen is a leading Indian micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India. Its wide range of lending products addresses the critical needs of its customers throughout their life cycle and includes income generation, family welfare, home improvement and emergency loans.
