Cebuana Lhuillier Bank (CLB), one of the country’s fastest growing rural banks, has set its sights for further expansion in the Visayas region starting with the opening of its first branch in Cebu City to reach out to more micro, small and medium enterprises (MSMEs) in the countryside.
Cebuana Lh
Shares of Bandhan Bank rose up to 9% today in an otherwise weak market after brokerage CLSA upgraded the stock to 'buy' with a target price of Rs 320. The banking stock touched an intraday high of Rs 288.5, rising 8.95% on BSE. Market cap of the firm rose to Rs 45,511 crore.
Microfinance lenders cannot charge usurious rate of interest from borrowers, the Reserve Bank said on Monday, and also asked them to put in place a ceiling on pricing of loans and related fees. A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 3 lakh.