SKS Microfinance announced that the company has completed the first securitization transaction in the current financial year of Rs 3.16 billion. The entire pool qualifies for priority sector treatment as per the RBI's Priority Sector lending guidelines.
The pool has been rated 'AA (SO)' by a leading rating agency, signifying a 'high degree of safety regarding timely servicing of financial obligations'. Such instruments carry very low credit risk.
SKS Microfinance is a non-deposit accepting non-banking financial company (NBFC-ND). The company is engaged primarily in providing microfinance services to women in the rural areas of India who are enrolled as members and organized as Joint Liability Groups (JLG). The company has its operation spread across 15 states.
Shares of the company gained Rs 0.05, or 0.02%, to trade at Rs 316.50. The total volume of shares traded was 148,985 at the BSE (12.22 p.m., Wednesday).