Satin Creditcare Network has received the first tranche of Rs 14.77 crore under the category III of the Assam Micro Finance Incentive and Relief Scheme 2021 (AMFIRS). The scheme was introduced in August 2021, wherein the MFIs signed a MoU with the Government of Assam for the joint implementation of AMFIRS with the aim of providing financial relief from the government to the microfinance borrowers in Assam to aid them in continuing to maintain strong credit discipline.
The category III of the said scheme, which is anticipated to have a significant effect, offers support to microfinance borrowers, whose accounts have been classified as Non-Performing Assets (NPAs). Specifically, this category targets NPA borrowers with an outstanding principal amount of up to 25,000 as of March 31, 2021, who were not covered under Categories I and II of the scheme.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
Company Name | CMP |
---|---|
Power Finance Corp | 492.70 |
REC | 537.65 |
Indian Railway Finance | 177.80 |
Satin Creditcare | 220.20 |
MAS Financial Serv | 288.00 |
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