SKS Microfinance completes Rs 80.81 crore securitisation deal

SKS Microfinance Ltd today said it has completed a securitisation deal of Rs 80.81 crore though a nationalised bank.

According to a press release issued by the country's only listed micro lender, the deal involved downloading receivables from micro loans extended to 100,850 rural women entrepreneurs through a Special Purpose Vehicle whose Pass Through Certificates (PTCs) have been purchased by a major private sector bank.

"Notably, the entire pool qualifies for priority sector treatment as per RBI's priority sector lending guidelines. Notably, 30 per cent of the pool is from Scheduled Caste and Scheduled Tribe entrepreneurs, 16 per cent from minorities, 37 per cent from Backward Caste and the remaining 17 per cent from women belonging to other Castes," the release said.

The entire pool comprises receivables from women entrepreneurs from weaker sections, the release said.

The pool is rated 'AA (SO)' signifying 'High Degree of Safety regarding timely servicing of financial obligation' by a leading rating agency.