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Satin Creditcare Network secures 15 million Euros debt funding from OeEB

10 Jul 2024 Evaluate

Satin Creditcare Network (SCNL) has successfully raised 15 million Euros in External Commercial Borrowing (ECB). The funding was secured from OeEB - Oesterreichische Entwicklungsbank AG - the Development Bank of Austria.

The ECB has a tenure of five years, during which the funds raised will be strategically utilized to expand SCNL’s business operations and enhance micro-credit access for its customers. These efforts will be facilitated through the company's Income Generating Loan (IGL) and WASH Loan programs, both tailored to support and empower rural women entrepreneurs. Furthermore, this initiative aims to foster economic growth and elevate living standards in underserved communities. This marks the company's third transaction with OeEB, following the successful collaboration in 2019 and 2021, which raised a total of $20 million.

Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country. 

Satin Creditcare Share Price

194.05 6.15 (3.27%)
06-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 463.55
REC 359.10
Indian Railway Fin. 106.75
NHIT 160.00
Satin Creditcare 194.05
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