Shares of SKS Microfinance jumped 6 percent intraday on Friday as Reserve Bank of India has raised borrower limit for short duration loan less than 24 months. In a booster for the industry, the RBI has raised cap on short-term loans (less than 24 months) by NBFC-MFIs to Rs 30000 from Rs 15000. As a result, SKS Microfinance has slashed interest rate by 1 percent charged to borrowers to 19.75 percent from 20.75 percent with effect from December 7, 2015, for all future disbursals.
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Micro finance is a booming sector in India and is most likely to perform well in the future. This post shares good facts about it. For more market updates and services follow epic research.
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